Analytics and insurance software provider QOMPLX is set to launch a US-based subsidiary that will offer cyber insurance, along with multi-line treaty and facultative re/insurance.
Due to open in the fall, RubiQon Risk & Insurance Services/RubiQon Re will be a Managing General Agency led by former Validus Re CEO Conan Ward and Romel Salam, former CRO of Validus Holdings and Chief Actuary & CRO of Validus Re.
“The unique capabilities of QOMPLX’s decision platform, cybersecurity solutions and professional consulting presented an opportunity to build a world-class infrastructure that merges the best of today’s technological revolutions, cyber expertise and a deeply knowledgeable re/insurance team,” said Ward, GM and President, RubiQon Risk.
“We’re looking to bring strategic-level solutions and insight to bear for our risk partners, not just tactical product solutions.
“It is extremely difficult for carriers to innovate, add technology and big data infrastructure, and still keep their factory lights on.
“We are prepared to work hand-in-glove with a small number of key partners to create a more symbiotic relationship between carriers and RubiQon to broaden their capability map, distribution outlets and product offerings.”
As silent cyber shrinks, QOMPLX expects dwindling cyber coverage grants in traditional products to drive demand for dedicated cyber insurance, a product it considers vastly superior.
With RubiQon, QOMPLX says clients will benefit from improved security posture and resilience through assessment tools, internal network analysis, active directory monitoring, risk remediation, and security programs and practices uplift to ensure sustainability.
“Because the cyber threat is so pervasive and dynamic, we can’t think of another class of business that requires a more thoughtful approach to underwriting,” said Romel Salam, Principal and CRO for RubiQon Re.
“We are excited about leveraging QOMPLX’s best in class technology platform and cybersecurity expertise to bring comprehensive and innovative risk management solutions to our clients and partners.”
