Modeling and management of cyber risk: a cross-disciplinary review

Rong He, Zhuo Jin, Johnny Siu-Hang Li*

*Corresponding author for this work

Research output: Contribution to journalReview articlepeer-review

3 Citations (Scopus)
38 Downloads (Pure)

Abstract

This paper provides a review of cyber risk research accomplished in different disciplines, with a primary goal to aid researchers in the field of insurance and actuarial science in identifying potential research gaps as well as leveraging useful models and techniques that have been considered in the literature. We highlight the recent advancements in cyber risk prediction, modeling, management, and insurance achieved in different domains including computer engineering, actuarial science, and business studies. The surveyed works are classified according to their respective modeling approaches, allowing readers to more easily compare the technical aspects of the surveyed works and spot out research gaps based on the research tools of their liking. We conclude this paper with a summary of possible research directions that are identified from the review.

Original languageEnglish
Pages (from-to)270-309
Number of pages40
JournalAnnals of Actuarial Science
Volume18
Issue number2
Early online date4 Jan 2024
DOIs
Publication statusPublished - Jul 2024

Bibliographical note

C The Author(s), 2024. Published by Cambridge University Press on behalf of Institute and Faculty of Actuaries. Version archived for private and non-commercial use with the permission of the author/s and according to publisher conditions. For further rights please contact the publisher.

Keywords

  • cyber insurance
  • Cyber risk management
  • cyber risk prediction
  • dependence modeling
  • machine learning

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