Global re/insurance broker Aon has selected CyberCube’s analytics platform to help improve its cyber aggregation risk modelling capabilities and deliver better solutions to its insurance carrier clients.
CyberCube’s cyber risk-modeling platform will enable Aon to support its clients on accumulation risk management and exposure management at a time when carriers are increasingly looking for guidance on cyber perils.
Armed with a better understanding of potential exposures, insurers will in turn have the confidence to price cover more accurately and offer more relevant products to their customers, Aon claims.
CyberCube has now been integrated on Aon’s CyberMetrica platform for aggregation management which offers insurers a suite of internal and external tools and expertise as part of its multi-model approach.
“Technology is a critical part of an insurer’s armoury,” said Catherine Mulligan, Global Head of Cyber for Aon’s Reinsurance Solutions business.
“Our collaboration with CyberCube enhances our multi-model approach, which enables insurers to more accurately quantify aggregation in their portfolio for more informed underwriting, while helping customers to understand their own cyber exposures and develop appropriate controls,” she explained.
Pascal Millaire, Chief Executive Officer (CEO) of CyberCube, also commented: “CyberCube is delighted to support Aon in building the market for one of the largest opportunities – and threats – to the global P&C (re)insurance sector in our generation.”
“Our industry-leading cyber risk-modeling platform is powered by best-in-class data sources and Symantec’s leading threat intelligence,” Millaire added. “We are pleased to use these capabilities to support Aon and its insurance carrier clients in this important emerging risk.”