PERILS unveils new developments

Switzerland-based data aggregator PERILS has announced a quartet of changes and developments to its offering. 

Speaking to Monte Carlo Today, Christoph Oehy, chief executive, and Darryl Pidcock, head of Asia-Pacific & cyber at PERILS, explained how the company is building a new platform to offer clients enhanced data visualisation.  

“CRESTA CLIX incorporates almost 25 years of data going back to 2000.”

“People want to have easier access to data, and it’s very important to the next step in the evolution of PERILS, which is providing insights based on the data,” said Oehy. “That’s something we’d like to do more going forward.” 

PERILS is also integrating CRESTA CLIX, the industry loss index, which was developed by its subsidiary CRESTA, into PERILS. They said that adding this extended product will provide loss estimates for global coverage except US and for all natural perils. CRESTA CLIX incorporates almost 25 years of data going back to 2000 that will become available in one place. 

The third development is on the perils side. The company is currently in the process of collecting the feedback from its data providers to include hail in Europe in the perils it covers. 

Following the CrowdStrike outage in July, there has been a lot of interest in whether PERILS would look to include unintentional attritional cyber events, because the US Cyber index covers only intentional malicious attacks. PERILS is now collecting feedback on whether that component should be added as well.  

“The focus by the industry has largely been on the malicious attacks,” said Pidcock. “CrowdStrike occurred in July, and now the industry is focusing on what is covered and the implications for cyber modelling. Of course, part of that is the data.”  

For more news from the Rendez-Vous de Septembre (RVS) click here.

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