Trium Cyber, a Lloyd’s services company providing cyber insurance, risk management, and claims adjudication services, has launched an excess cyber program powered by Origami Risk’s multi-tenant SaaS P&C insurance core solution suite.
Through this collaboration, the firms aim to speed first phase of tech implementation in three months; primary cyber underwriting, claims admin tools to follow.
Trium Cyber can now accept submissions from agents and brokers and quickly generate multiple quote options for excess cyber coverage.
Origami’s functionality streamlines the underwriting process, enabling Trium Cyber to elevate decision-making when necessary and to provide core functionality for policy bind, issuance, and billing.
Furthermore, integrations with additional resources help facilitate certain business processes and tax compliance, the firm explains.
Trium Cyber’s multi-phased implementation of its primary and excess cyber lines with Origami, will include capabilities for streamlined claims handling.
Besides delivering speed-to-value, the incremental approach gives Trium Cyber quality control functionality across its underwriting and claims operations.
“We’re excited to roll out our excess cyber insurance program, which will respond to a groundswell of current market demand,” said Josh Ladeau, CEO, Trium Cyber.
“We’re also looking forward to the upcoming launch of our primary cyber program and claims capabilities as we continue to work with Origami’s team on the accelerated implementation of its core solution suite.”
Chris Bennett, president, Core Solutions at Origami Risk, said: “We’re pleased to work with Trium Cyber on the completion of the first phase of their implementation and look forward to continuing to build the functionality and automation to meet all of their objectives.
“Our close collaboration with their team will result in a scalable solution that provides the tools and functionality that meets Trium Cyber’s needs now and well into the future as they expand their product set, build-out their distribution network, and grow their client base.”
Backed by Pelican Ventures, Trium Cyber began operations at the start of 2023 and will provide cyber insurance along with complementary risk management advisory services and real-time loss mitigation services to drive rapid claims decisions, favourable loss outcomes, and to support its growth.
