Cyber Risks in the Smart Home Ecosystem: Identification, Modeling, and Pricing

Authors

Maochao Xu, PhD
Shouhuai Xu, PhD

Description

This project enhances the current understanding of cyber risks in the smart home ecosystem from the insurance industry's perspective. In particular, the quantitative framework and pricing strategies developed in this project can be immediately adopted/adapted by actuaries to price the cyber risks for smart homes, a fast-growing insurance market.

Materials

Cyber Risks in the Smart Home Ecosystem: Identification, Modeling, and Pricing

Acknowledgments

The authors’ deepest gratitude goes to those without whose efforts this project could not have come to fruition: the volunteers who generously shared their wisdom, insights, advice, guidance, and arm’s-length review of this study prior to publication. Any opinions expressed may not reflect their opinions nor those of their employers. Any errors belong to the authors alone.

Project Oversight Group members:
Laura Bass
Ron Harasym
Jill Harper
Shariq Sikander
Jianxi Su
Xinping Yuan

At the Society of Actuaries Research Institute:
Scott Lennox, FSA, FCAS, FCIA
Rob Montgomery, ASA, MAAA, FLMI

The Society of Actuaries Research Institute would like to acknowledge the generous contribution of the Casualty Actuarial Society and the Joint Risk Management Section to the funding of this research.

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