Author Archives: Christos Mitas

Christos Mitas

About Christos Mitas

Vice President of Model Development, RMS

Based in London, Christos leads the RMS Cyber Risk Modeling team researching and developing modeling frameworks and solutions for the (re)insurance industry, including the RMS Cyber Accumulation Management System (2016, 2017), and RMS Cyber Solutions (2018).

He has worked at RMS since 2006 developing catastrophe models for climate risks, including typhoon models for South Korea and Taiwan (2016), probabilistic flood maps for Taiwan (2015) and South Korea (2014), European windstorm model (2011), and the North America winter storm model (2008). He has also researched and developed efficient and scalable computational modeling frameworks.

Before joining RMS, Christos worked as a post-doctoral Associate and an Assistant Scientist at the University of Miami’s Rosenstiel School of Marine and Atmospheric Science (RSMAS) from 2003 to 2006.

Christos holds a bachelor’s degree in Mathematics from the Aristotle University of Thessaloniki, Greece, and a master's degree from the Dept. of Atmospheric Sciences of the University of Wyoming. He holds a PhD in Atmospheric Sciences from the Dept. of Atmospheric Sciences of the University of Illinois at Urbana-Champaign.

Cyber Risk Models: Time for a Bench Test

RMS recently participated in a cyber model comparison exercise at the Cat Risk Management and Modelling conference in London. These types of comparison for natural catastrophe models have been performed at several conferences during the last decade, but this was the first time that losses from multiple cyber models had been compared in this way. The assessment included established cyber model firms such as RMS and Guidewire, as well start-ups including Corax, Kovrr and CyberCube.

This comparison exercise clearly demonstrated that the cyber modeling industry has not reached a consensus on the likelihood and impact of extreme cyber catastrophes. The comparison was run against a small number of accounts – looking at a total of 46 U.S. companies across a range of industry sectors.

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