Millennial Shift Technologies Inc. has announced a strategic collaboration with CyberCube, the cyber risk analytics platform.
mShift is a digital platform that allows insurance professionals to “quote, bind and issue multiple lines of business within the small to medium enterprise (SME) cyber liability space. mShift is partnering with CyberCube to develop an integrated solution to streamline the workflows for insurance producers while supporting an enhanced client experience.”
The integration will eliminate the need “for redundant data entry and ensure that all cyber proposals include CyberCube reports.”
The partnership will utilize CyberCube’s Broking Manager software, “which applies specialized analytics to produce targeted information on a client’s cyber risk profile. CyberCube’s Broking Manager reports enable impactful discussions around company-specific financial exposure and risk transfer benchmarking data that support insurance buyers when making limits and coverage decisions.”
Ross Wirth, Head of Client Engagement and Technology Partnerships at CyberCube, said:
“By integrating CyberCube’s Broking Manager reports within the mShift platform, brokers and their clients can effortlessly compare their financial exposure to cyber events against proposed limits. This partnership will provide cyber risk transparency to the SME insurance market.”
Mark Meury, Founder and CEO of mShift, said:
“By including CyberCube’s reports and analytics, we can enable insurance professionals to demonstrate their expertise in cyber insurance and facilitate increased adoption of cyber insurance across SME insurance buyers.”
As noted in the update, CyberCube delivers the cyber risk analytics for the insurance industry.
With data access and 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.”
As mentioned in the announcement, Millennial Shift Technologies is “a custom-branded e-trading platform suite designed to empower brokers to quote, bind, and issue policies within minutes through multiple distribution channels while maintaining the broker-underwriter relationship.”
Founded in 2019, Millennial Shift Technologies is “based in Phoenix, Arizona, with employees across the United States.”