Global reinsurer Munich Re has selected CyberCube’s analytics platform to help quantify, model and control cyber accumulation risk.
Munich Re’s Chief Underwriter Stefan Golling states that leveraging the capabilities of CyberCube will help the company’s underwriting and risk modelling teams in better quantifying cyber risk and understanding potential cyber accumulation scenarios.
An extreme cyber event has the potential to deeply impact thousands of organisations at once, and the accumulation of liabilities across multiple insured portfolios could result in substantial losses.
Cyber risk analytics firm CyberCube offers a platform that helps re/insurers strengthen their accumulation risk management and exposure measurement.
“Cyber insurance is a key focus of our innovation strategy,” added Golling. “We have made significant investments in our own cyber risk expertise and we seek to complement this with insights from the cyber eco-system.”
Pascal Millaire, Chief Executive Officer of CyberCube added, “CyberCube is delighted to support Munich Re in making significant progress to tackle one of the largest opportunities – and threats – to the global P&C (re)insurance market in our generation.
“Our industry-leading cyber risk-modeling platform is powered by several best-in-class data sources and Symantec’s leading threat intelligence. We are pleased to use these capabilities to support a leader in the reinsurance market.”