Trium Cyber, the authorized service company for Syndicate 1322 at Lloyd’s, is leveraging CyberCube’s cyber risk analytics platform, Portfolio Manager, and its accompanying CyberConnect API product.
Last year, Trium launched as the “first” Lloyd’s-approved mono-line Cyber syndicate, offering coverage to US-domiciled risks.
Shortly after that, Trium expanded its offerings to include a UK platform and is focused on providing “risk transfer solutions” to a pool of “high-quality” clients who demonstrate “superior” security hygiene.
The surplus lines insurer was reportedly established around a core of professionals using the underwriting methodology, cyber risk management, and loss mitigation services.
Trium aims to utilize CyberCube’s Software-as-a-Service application to further enhance its data and analytics capabilities, providing visibility into individual account and aggregate risk, and “supporting the construction of a consistently profitable cyber portfolio.”
Portfolio Manager (PM) is a scenario-based data-driven model that enables risk professionals to “develop insights for their senior leadership and teams.”
It also allows stress testing of insurance risk portfolios so that “loss drivers and areas of accumulation risk can be identified.”
CyberConnect APIs for Portfolio Manager unlock the power of PM via API, allowing for “automation and efficiency gains, tighter workflow integration, and sensitivity testing at scale.”
As covered, CyberCube is the provider of software-as-a-service cyber risk analytics to “quantify cyber risk in financial terms.”
Driven by data and insight, they claim to have harnessed the power of artificial intelligence to “supplement our multi-disciplinary team.”
Their clients rely on our solutions to make “informed decisions about managing and transferring cyber risks.”
They aim to unpack cyber threats into clear, actionable strategies, translating cyber risk into financial impact “on businesses, markets, and society as a whole.”
The CyberCube platform was established in 2015 within Symantec and now operates “as a standalone company.”
Their models are built on a ecosystem of data and “validated by extensive model calibration, internally and externally.”
CyberCube is the firm focused on cyber risk quantification for the insurance industry, serving 100+ insurance institutions.
The company’s investors reportedly include the following: Forgepoint Capital, HSCM Bermuda and Morgan Stanley Tactical Value.
Trium Cyber is a specialty insurance underwriter providing cyber and technology errors and omissions insurance “coverage to high-quality risks.”
Writing on behalf of its “aligned capital vehicle,” Syndicate 1322, Trium is backed by Pelican Ventures.
Trium Cyber, via its US and UK-based management teams, is positioned to service the marketplace, offering technical underwriting, cyber risk management, and real-time loss mitigation services.
