Israel-headquartered cyber risk modeller Kovrr has announced the addition of John Butler, Head of the US Insurance Management Platform and the Global ILS Program at Cohen & Company, to its advisory board.
Prior to joining Cohen & Company, Butler served as Managing Partner at re/insurance linked investment manager, Twelve Capital.
Currently, he also serves as the President and Chief Executive Officer (CEO) of Insurance Acquisition Corp., a blank check company sponsored by Cohen & Company.
In his new role at Kovrr, Butler will advise the cyber risk modeller on its global expansion efforts, providing cyber risk modelling solutions for insurance and risk professionals.
Commenting on his new role, Butler said: “As the cyber insurance market grows and matures, it demands additional capacity. Alternative financial vehicles such as ILS must support this need. Cyber catastrophe bonds will be a major growth driver for both, but productization depends on progressive approaches to modeling portfolio cyber risk.
“Kovrr’s advanced data harvesting and modeling technologies enable the market to financially quantify portfolio cyber risk and provide investors the needed confidence for supporting these products.”
CEO of Kovrr, Yakir Golan, added: “We’re excited to have John on board. The market is constantly looking for new ways to diversify risk. Cyber is a great candidate. John brings a wealth of experience in both launching and growing ILS and reinsurance products. John’s knowledge and expertise will help Kovrr’s clients and partners introduce innovative financial products with best in class cyber risk portfolio modeling capabilities.”