CatX, the digital marketplace that connects (re)insurers and brokers with alternative capital, has announced it will enhance its capabilities through a new collaboration with CyberCube.
The partnership will reportedly enable the integration of CyberCube’s Portfolio Manager, a scenario-based catastrophe model that empowers portfolio-level insights for senior leadership decision-making, into CatX’s marketplace.
CatX’s customers will additionally benefit from CyberCube’s Industry Exposure Databases, which allow (re)insurers and brokers to perform an array of benchmarking, sensitivity, and analyses for cyber risks as they consider participating in Industry Loss Warranties (ILW).
Benedict Altier, Chief Executive Officer of CatX, commented on the collaboration, “We are seeing strong demand from investors for cyber insurance-linked security (ILS) products and expect to see this segment expand significantly over the next few years.
“Alternative capital will play a critical role in improving the stability of the broader cyber market insurance market. Partnering with CyberCube will give brokers, insurers, and investors access to leading cyber risk analytics directly on the CatX platform.”
Ross Wirth, Head of Partnership & Ecosystem at CyberCube, said, “This strategic partnership will help provide greater confidence to investors seeking additional access to investments such as industry loss warranties.
“We are thrilled to enable investor access to CyberCube’s leading models on the CatX platform, providing another source of capital in this quickly expanding market.”
Lucas Schneider, Chief Technology Officer at CatX, added, “Working with CyberCube will help us further our ambition to become the leading venue for cyber index-based and parametric reinsurance and retrocession transactions.
“CyberCube’s datasets will help to augment our ILS-analytics suite supporting risk-adjusted pricing, scenario analysis and benchmarking.”
If you recall, back in November of 2023, CatX successfully raised $2.7 million in seed funding. In February of this year, the digital marketplace partnered with risk modeller Moody’s RMS to support brokers and cedents in accessing a broader capacity base and model and price risk more effectively.
