Relay Platform, a technology solutions provider enabling the digital transformation of commercial insurance placements, has partnered with CyberCube, a cyber risks analytics provider, on the cyber quoting experience.
This new partnership aims to enable brokers and agents who use Relay to gain access to the CyberCube cyber insurance report directly within the Relay system while they obtain quotes.
AQuotes are presented in a Smart Client Proposal which enables agents and brokers to convert more business, Relay explained. Working to consolidate placements with carriers, the company combines API, manual and email quotes while providing advanced analytics to improve renewal rates.
CyberCube provides crucial information for named insureds to understand the level of impact cyber security has in one’s organisation, including: individualised assessment of the level of cyber security risk; estimated impact from common cyber security attacks; and the ability to determine benchmark insurance limits and deductibles.
Additionally, this information also helps brokers and agents explain the level and types of cyber insurance coverage the client needs by displaying objective data and industry benchmarks tailored to each individual client, Relay noted.
Andrew Lukas, CyberCube Senior Client Account Manager, said: “The inclusion of CyberCube’s Broking Manager reports in the Relay platform enables brokers and their clients to seamlessly compare their financial exposure to cyber events against the limits they are being proposed. CyberCube is excited to partner with Relay to provide cyber risk clarity to the SME market.”
The fact that CyberCube reports are instantly auto-generated in the Smart Client Proposal™️, helps eliminate the need to re-enter information across systems and ensures that all client proposals can include the CyberCube reports without any additional effort. Brokers and agents need to be a CyberCube CyberConnect client for the integration to work, Relay highlighted.
Edmund Lo, Head of Product & Engineering at Relay Platform, commented: “With the addition of the CyberCube cyber insurance report, the Relay Smart Client Proposal™️ not only allows the broker or agent to further demonstrate their expertise in cyber insurance, but also creates additional material to assert the importance of cyber insurance and help close more business.”
