QBE Europe, part of the QBE Insurance Group, is set to begin leveraging cyber exposure data and loss analytics provided by Corax.
QBE will look to use the Corax platform to underwrite and manage cyber risk exposure.
Founded in 2014, the cyber risk modelling and prediction platform has been available to the insurance industry since late 2017 and now has over 200 users.
“Carriers want more transparency, they are increasingly looking for the depth of data on individual organisations and the granularity that Corax specialises in,” said Chief Executive Officer of Corax, Jonathan Pope.
“Our rich data foundation is the world’s largest detailed unique dataset of companies modelled for cyber and we’re delighted that QBE has chosen us as the cutting-edge vendor of detailed cyber data and analytics”.
Erica Constance, Cyber Portfolio Manager at QBE added, “In the nascent cyber market we value data sources that supplement our underwriting.
“The Corax platform helps us assess the overall exposure of a risk to the QBE portfolio and enables us to provide a more stable and consistent product to our customers.”
