U.S. specialist insurance brokerage U.S. Risk Insurance Group will license CyberCube’s Broking Manager, the cyber risk analytics platform for insurance intermediaries, “to support its retail agents and insureds in quantifying cyber risk financial exposure.”
U.S. Risk Insurance Group, LLC is “a privately owned specialty lines underwriting manager and brokerage firm.” It provides “all types of general property and casualty (P&C) insurance products and services through its wholesale brokerage division, U.S. Risk Brokers.”
Nate Brink, CyberCube Sales Manager, said:
“Today, CyberCube’s market-leading analytics are helping thousands of insurance buyers quantify their cyber risk exposure. This multi-year partnership with U.S. Risk will drive better-informed risk transfer decisions when clients are considering buying cyber insurance.”
Alex Furlong, President of the Wholesale and MGA division of U.S. Risk, said:
“U.S. Risk is focused on supporting our retailers and insureds with the best resources and expertise in the industry. CyberCube’s analytics will enable our clients to make data-driven decisions to better protect their businesses, and help grow our cyber business.”
Broking Manager is reportedly “the first Software-as-a-Service application CyberCube has built specifically for the insurance broking community.” It offers “a streamlined approach to analyzing potential financial exposure impacts arising from cyber events that helps clients make informed decisions on coverages and limits.”
Broking Manager “complements CyberCube’s two other products, Portfolio Manager and Account Manager, which are designed for risk carriers and are used by leading companies across the insurance ecosystem.”
As noted in the update, CyberCube delivers what it claims is “the world’s leading cyber risk analytics for the insurance industry.”
With data access and advanced multi-disciplinary analytics, the company’s cloud-based platform “helps insurance organizations quantify cyber risk to facilitate placing insurance, underwriting cyber risk and managing cyber risk aggregation.”
CyberCube’s enterprise intelligence layer “provides insights on millions of companies globally and includes modeling on thousands of points of technology failure.”
The CyberCube platform was “established in 2015 within Symantec and now operates as a standalone company exclusively focused on the insurance industry, with access to an unparalleled ecosystem of data partners.”
It is “backed by Morgan Stanley Tactical Value, Forgepoint Capital, HSCM Bermuda, MTech Capital, individuals from Stone Point Capital and Scott G. Stephenson.”