Innovation intelligence brief
Innovation intelligence brief
Added by the 2026 Swiss InsurTech research (issue #41) from public sources, not by the original academic study (Stoeckli, Dremel & Uebernickel). Its 2016 and 2017 classifications apply the original taxonomy definitions but were not validated by that study. All innovations in this cohort · Methodology ↗
Independent industry loss index for systemic US cyber events above USD 500m industry loss, built from US cyber insurers' loss data collected and aggregated by CyberAcuView with industry-level calculations jointly signed off with PERILS, licensed as a trigger for cyber ILS and industry loss warranties and delivered via the PERILS Cyber Portal, with PERILS acting as reporting agent.
Research profile · Swiss Innovation · 2021–2026
Classification notes · The 2016/2017 taxonomies have no risk-capital/ILS leaf; closest leaves chosen (cyber risk, external data, cooperation). Roles: PERILS (founded 2009, independent Zurich-based industry loss data provider) is not a start-up; 'service-provider' + 'collaboration' used. Underlying exposure is US; the Swiss connection is the Zurich operator. Strategic evolution 'expanded' with 'line-expansion' for the extension from malicious to also unintentional cyber events (new risk type covered).
What became of it
Completed · High confidence · Last verified 2026-10-18
At launch
First independent cyber industry loss index usable as a parametric-style industry-loss trigger, enabling cyber risk to be transferred to capital markets without indemnity exposure.
2026 reality
The index remains in use: after the first Swiss Re-sponsored 144A cyber cat bond (Matterhorn Re 2023-1, risk period to end-2026) and an ILW in early 2024, Lockton Re used it in August 2026 for the cyber trigger of what it described as the first dual-trigger property-cat and cyber ILW. Coverage was extended to unintentional (non-malicious) systemic events from 1 October 2024.
Scope expanded from malicious to also unintentional systemic cyber events (Oct 2024).
a market-infrastructure innovation that underpins the emerging cyber ILS market; extends PERILS' established nat-cat industry loss role (used for European windstorm and other cat bonds) to cyber.
Third taxonomy
REVIEW · Read both PERILS press releases (PDF) and confirmed launch, scope, data process and first transactions; fetched Artemis and Insurance Business (published 23 Sep 2024). Added Insurance Business (Aug 2026) evidencing continued use in 2026 and the Artemis Matterhorn Re article; folded the separately proposed Matterhorn Re 2023-1 cat bond into this record as a milestone. Added 'line-expansion' to business-model-shift.
Research interpretation
Classified by the Swiss Innovation · 2021–2026 research, applying the original models' definitions. Not a classification by the original study.