Lockton Re, the reinsurance segment of broker Lockton, has expanded its relationship with CyberCube via an investment in the firm’s Portfolio Manager solution.
The product has been designed to enhance enterprise risk management purposes, and will allow the reinsurance broker to advise its clients how their portfolio exposures look for extreme events, and how that might inform their reinsurance buying.
Portfolio Manager is a scenario-based data-driven model that enables risk professionals to develop insights for their senior leadership and teams.
Additionally, the solution provides the stress testing of portfolios of insurance risk so that loss drivers and areas of accumulation risk can be identified.
Pascal Millaire, CyberCube Chief Executive Officer (CEO), said: “We’re thrilled that Lockton Re has chosen to use another of our products. This deepens our relationship with the whole of Lockton and will give Lockton’s teams and management a more holistic view of the impact of cyber risk on their clients and their business as a whole.”
Adam Braithwaite, Senior Reinsurance Actuary, Lockton Re, added: “The insurance side of Lockton has been using Broking Manager since last year and has benefited considerably from the insights it offers.
“For Lockton Re Portfolio Manager will integrate with Lockton Re’s SAGE, our proprietary reinsurance analytics platform, to provide our clients with even greater analytical insights and advice for their cyber portfolios.”
The investment comes just months after Lockton announced that it would be rolling out CyberCube’s Broking Manager solution, a cyber risks analytics platform for insurance intermediaries.
