VicOne Awarded Cyber Risk Analysis Project by the General Insurance Rating Organization of Japan

VicOne Awarded Cyber Risk Analysis Project for the Autonomous Driving Era by the General Insurance Rating Organization of Japan

Supporting the identification of potential cyberattacks, scenario analysis, damage assessment, and occurrence rate analysis

VicOne Corporation (VicOne, headquartered in Shinjuku, Tokyo; CEO: Max Cheng), a subsidiary of Trend Micro Incorporated (headquartered in Shinjuku, Tokyo; CEO: Eva Chen) and a leading company in automotive cybersecurity, has been awarded a project by the General Insurance Rating Organization of Japan (GIROJ, headquartered in Shinjuku, Tokyo; President: Shinichiro Hayakawa) to analyze cyber risks in the autonomous driving era.

Overview of the initiative

This initiative is part of foundational research on cyber risks, which could become new factors in automotive accidents, in order to address challenges in future automobile insurance rate structures and systems in an era of widespread autonomous vehicles. The research began in July 2024 and is expected to be completed by July 2025. VicOne is supporting the project by identifying risk scenarios and estimating damage levels and financial losses based on those scenarios.

Background

With the advancement of autonomous driving technology, concerns about "accumulation risks" have increased. These refer to large-scale incidents where a single cyberattack could impact multiple vehicles, leading to significant insurance payouts. To address these emerging risks, VicOne has been commissioned by GIROJ to conduct a scenario-based quantitative evaluation of potential damages as part of a foundational study on cyber risks.

VicOne’s role

VicOne leverages Trend Micro’s extensive expertise in IT-related cybersecurity research and investigation to specialize in cybersecurity for vehicles. As a leading provider of automotive cybersecurity solutions, VicOne supports numerous autonomous driving service providers in ensuring the security of their operations.

In this initiative, VicOne is responsible for analyzing cyber risks in the autonomous driving era and assisting in the consideration of insurance rate calculations based on these risks. By utilizing its specialized knowledge and technologies, VicOne enables the construction of highly accurate risk scenarios and detailed assessments of potential damage levels and financial impacts.

Key research activities

VicOne will conduct risk assessments, identify potential cyberattack scenarios, and analyze the likelihood of high-impact incidents.

Specifically, the company will collect relevant information using its own research, industry literature, and data sources, considering a future where autonomous driving is widespread. Using a cybersecurity framework, the collected information will be quantitatively analyzed, leading to risk scoring and estimation of potential damage and incident likelihood.

About the General Insurance Rating Organization of Japan (GIROJ)

GIROJ is a non-profit organization consisting of member insurance companies, established under the Act on General Insurance Rating Organizations to ensure the sound development of the insurance industry and protect policyholders' interests. It calculates reference rates and standard premiums, conducts loss investigations for compulsory automobile liability insurance (CALI), and operates as a data repository. By compiling large-scale data and applying scientific and actuarial methodologies, GIROJ ensures fair and stable insurance premium calculations.
For more information, visit: https://www.giroj.or.jp/.

About VicOne

With a vision to secure the vehicles of tomorrow, VicOne delivers a broad portfolio of cybersecurity software and services for the automotive industry. Purpose-built to address the rigorous needs of automotive manufacturers, VicOne solutions are designed to secure and scale with the specialized demands of the modern vehicle. As a Trend Micro subsidiary, VicOne is powered by a solid foundation in cybersecurity drawn from Trend Micro's 30+ years in the industry, delivering unparalleled automotive protection and deep security insights that enable our customers to build secure as well as smart vehicles. For more information, visit: https://vicone.com/.