Cybersafety incremental insurance policy utilizing blockchain underwriting process
A cybersafety incremental insurance policy utilizing blockchain underwriting process. A cyber risk event relating to transfer of data to a first party is identified using a first smart contract module. Cyber risk control of the cyber risk event is enabled using a second smart contract module. Cyber risk associated with the cyber risk control is transferred using a third smart contract module. The first smart contract, the second smart contract and the third smart contract are integrated into a multi-tier decentralized interaction that is recorded in a blockchain token utilizing a decentralized append only distributed ledger and a consensus algorithm for agreement to change requests on the distributed ledger. A premium associated cyber risk transfer is paid. Once the first party confirms receipt of the data, proof of premium is released into an insuring entities account.
1. An IT event display system comprising:
an on-premise event uploader that is capable of reading local events in real-time and netflow events;
an off-site data processing facility that receives data from the on-premise event uploader;
a processing module to extract and restructure the data into a time series clustered structure;
a correlation module using a computational complex time-aligning time-window based matching algorithm to correlate the local events and the netflow events by associating “in-bytes” and “out-bytes” with each event to prepare enriched event data; and
a display module that is capable of displaying the enriched event data.
2. The IT event display system of claim 1 , and further comprising a storage module that is capable of storing the enriched event data.
3. The IT event display system of claim 1 , and further comprising a transfer module that is capable of storing the enriched event data into a blockchain.
4. The IT event display system of claim 1 , and further comprising a smart contract generation module that is capable of generating a smart contract based upon the enriched event data.
5. The IT event display system of claim 4 , wherein the smart contract is an insurance policy and wherein the IT event display system further comprises a transfer module that is capable of syncing the insurance policy into a blockchain.
6. A method of displaying IT events comprising:
reading local events and netflow events using an on-premise event uploader;
transferring data relating to the local events and the netflow events from the on-premise event uploader to an off-site data processing facility;
extracting and restructuring the data into a time series clustered structure;
correlating the time series clustered structure data of the local events and the netflow events by associating “in-bytes” and “out-bytes” with each event to prepare enriched event data; and
displaying the enriched event data.
7. The method of claim 6 , and further comprising storing the enriched event data.
8. The method of claim 6 , and further comprising storing the enriched event data into a blockchain.
9. The method of claim 6 , and further comprising generating a smart contract based upon the enriched event data.
10. The method of claim 9 , wherein the smart contract is an insurance policy and wherein the method further comprises syncing the insurance policy into a blockchain.
11. A method of generating an insurance policy comprising:
reading local events and netflow events using an on-premise event uploader;
transferring data relating to the local events and the netflow events from the on-premise event uploader to an off-site data processing facility;
extracting and restructuring the data into a time series clustered structure;
correlating the time series clustered structure data of the local events and the netflow events by associating “in-bytes” and “out-bytes” with each event to prepare enriched event data;
generating a smart contract based upon the enriched event data, wherein the smart contract is an insurance policy.
12. The method of claim 6 , and further comprising storing the enriched event data.
13. The method of claim 6 , and further comprising storing the enriched event data into a blockchain.
14. The method of claim 9 , and further comprising syncing the insurance policy into a blockchain.