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.
This project was jointly sponsored by the CAS and the SoA. Members from both societies reviewed preliminary drafts of the paper and offered feedback thereon. The views expressed are solely those of the authors.