Cyber risk analytics firm CyberCube has announced that CNA, one of the largest U.S commercial property and casualty (P&C) insurance companies, has signed an agreement to use its cyber insurance risk modelling and analytics platform.
CyberCube’s platform combines single risk underwriting and aggregation modelling to help insurers measure the financial impact of emerging cyber risks.
The firms said that the partnership would enhance CNA’s underwriting workflows, provide it with better cyber aggregation capabilities, and enable it to develop a customised view of its cyber exposure.
CyberCube added that these supplemental capabilities will become increasingly vital as the global cyber insurance market continues to grow exponentially, alongside the rapid pace of digitalisation.
“Our customers face emerging cyber challenges daily,” said Andrew Lea, Vice President, Underwriting for Errors & Omissions, Cyber & Media Liability, CNA. “We are thrilled to leverage CyberCube’s expertise and risk-modeling capabilities, as they empower our underwriting and risk-modeling teams to better address these challenges.”
“CyberCube is excited to partner with CNA to help with underwriting analytics and portfolio management,” added Pascal Millaire, Chief Executive Officer (CEO) of CyberCube.
“Our industry-leading cyber risk-modeling platform is powered by several best-in-class data sources and Symantec’s world-leading threat intelligence,” Millaire continued. “We are pleased to support CNA, one of the nation’s leading insurance providers, in navigating one of the most complex risks facing their customers in the 21st century.”