CyberCube is collaborating with data analytics firm EXL to develop cyber insurance solutions for the P&C insurance industry.
The firms said in a joint statement that they would help deliver the framework insurers need to develop comprehensive cyber risk policies through a wide range of risk measures, including industry specific threat risk scores, signals, and financial-loss models, alongside non-traditional data and real-time threat assessment.
This is not the only partnership that CyberCube has announced in recent days. Earlier this week, the firm said it was partnering with electronic marketplace AkinovA, under which its products will be made available on the latter’s platform. That announcement came a few weeks after another partnership, this time with Baldwin Risk Partners, was announced.
Under this latest partnership, CyberCube and EXL said that the combined offering will help standardise cyber risk underwriting by creating a single view of risk that can be applied consistently and tracked across the organisation, creating a common framework across pricing, actuarial, reinsurance partners, and the chief underwriting officer. The partnership launch offering will centre on underwriting optimisation leveraging CyberCube’s single-risk product Account Manager.
Ross Wirth, head of client account management and technology services at CyberCube, said: “The best insurtech analytics in the world are meaningless if they can’t be integrated seamlessly into the enterprise-wide workflows of the major P&C carriers.
“Our partnership with EXL is an exciting opportunity for CyberCube to expand support to our clients by developing a customised operating model to best incorporate Account Manager and its scores and signals into their daily workflow in a customisable and repeatable fashion.”
