New York-based MGA Elpha Secure has partnered with CyberCube to utilise two of its cyber risk analytics tools as the business grows to create a compelling case to attract capacity from providers operating within the ILS space.
Elpha has licensed CyberCube’s Portfolio Manager platform and its Single Point of Failure (SPoF) Intelligence module.
The Portfolio Manager is a scenario-based data-driven model that enables risk professionals to develop insights for their senior leadership and teams, explains CyberCube. The platform stress tests portfolios of re/insurance risks against systemic cyber-related scenarios including data breaches, cloud outages, global ransomware attacks and financial fraud.
Meanwhile, the SPoF Intelligence module will provide Elpha Secure’s team with detailed information on their clients’ exposures to SPoFs and therefore, the potential for disruption to supply chains.
Andrew Lukas, CyberCube’s Senior Client Account Manager, commented, “We are excited to partner with Elpha Secure as they bring both cyber risk transfer and cyber protection technology solutions to their insured base.
“Portfolio Manager and SPoF give Elpha a holistic view of their concentrated exposures and loss potential.”
Preetam Dutta, Elpha Secure’s CEO, added, “The cyber insurance industry is facing systemic risks, which continue to grow every day as more users aggregate around possible attack vectors.
“We are excited to build on work in the ILS space through our partnership with Fermat Capital and CyberCube.”