Reinsurance broker JLT Re has partnered with cyber risk analytics firm CyberCube in a move it says will “provide new and unique insights to help clients face the challenges of cyber risk.”
The combination of JLT Re’s existing cyber and enterprise modelling tools with CyberCube is expected to enhance the reinsurance broker’s offerings to its clients, providing them with crucial information required to manage their cyber risk strategy.
“With the cyber market growing at more than 20% per year, the need to understand and manage cyber risk challenges is more important than ever,” explained David Flandro, Global Head of Analytics for JLT Re.
“JLT Re’s continued investment in developing market leading analytical tools will help clients solve some of the most complex cyber issues, particularly in regard to aggregation concerns.”
CyberCube offers robust analytics to its clients, including fully probabilistic capabilities and a wide range of possible loss scenarios. With access to unique data sources including Symantec’s security telemetry, CyberCube is able to support JLT Re in delivering sophisticated modelling capabilities for their clients.
“Cyber aggregation is one of the most important and difficult issues facing the insurance industry. We are excited to be working with JLT Re to bring our distinctive data and industry-leading models to help more insurers better understand this dynamic new risk,” remarked CyberCube’s Chief Executive Officer (CEO), Pascal Millaire.
Global CEO of JLT Re, Michael Reynolds, said that “This partnership will allow us to provide meaningful insights to clients by combining our proprietary modelling tools with that of CyberCube’s unique resources. As a result, we will offer sustainable and material benefits tailored to fit our clients’ needs.”