Canopius, the global specialty lines re/insurer, and Measured Analytics and Insurance, the AI-powered cyber insurance provider, have announced a new capacity partnership to offer cyber insurance and cybersecurity solutions to small and midsize businesses in the United States.
Canopius joins Paris-based SCOR, one of the world’s leading reinsurers, which has been a long-standing lead capacity provider for Measured’s strategic growth. The new partnership will combine Canopius’ and SCOR’s cyber expertise and global reach with Measured’s innovative approach to cyber risk management.
Jenny Soubra, US Head of Cyber and Tech E&O at Canopius commented, “We are thrilled to announce our partnership with Measured Analytics and Insurance, as it marks a step forward in our mission to provide comprehensive cyber insurance solutions to small and midsize businesses across the United States. When combined with Canopius’ and SCOR’s expertise, together we are equipped to deliver unparalleled cyber protection to customers. Measured’s innovative approach to cyber risk management aligns seamlessly with our capabilities, resulting in a strategic partnership positioned to drive transformative change.”
Global insurers seeking growth with discipline in cyber insurance demand analytic rigour, technology expertise, and dynamic risk insight across the underwriting value chain. Measured’s solutions leverage artificial intelligence, proprietary threat insights and behind-the-firewall data to identify security threats and reduce businesses’ potential exposure. For insurers, this creates a better customer experience and manages risk and profitability.
Benjamin Auray, Chief Underwriting Officer, Global Head of MGA at SCOR added, “Best-in-class underwriting coupled with differentiated scalable distribution are the key capabilities for strong profitable growth in the cyber insurance market. We believe Measured’s data-driven approach to tracking exposure in real-time creates smarter insurance products. Measured is built to scale quickly and grow responsibly, powered by partnerships and proprietary data.”
With the proliferation of threat actors and the rise in cyber incidents, the global re/insurance market has raised expectations for analytic rigour to profitably underwrite. This heightened discipline, coupled with rising demand for cyber coverage, has resulted in price increases and coverage contraction.
Measured makes it easier to obtain cyber coverage through creative partnerships with market leaders in insurance and cyber technology. Measured’s proprietary analytics and technology-oriented underwriting generate deeper insights for insurers and greater value for customers at the initiation of a policy. When combined with the cyber hygiene enhancements of its cybersecurity partners, Measured delivers actionable insight into customers’ ongoing security posture.
Jack Vines, the Measured CEO, concluded, “Measured is uniquely positioned to provide innovative solutions for organizations seeking cyber insurance. We’re more than an insurance provider, we’re a reliable, AI-powered cyber risk management partner. We appreciate the strategic advantage provided by SCOR’s commitment of capacity and expertise to date. Together, we’re better than ever at making our customers safer and more secure, thanks to having Canopius and SCOR at our side.”
