DUAL Group announced a partnership with CyberCube, a provider of cyber risk analytics, to enhance its cyber underwriting capabilities and deliver value to brokers and clients. With cyber risk as one of the key challenges facing businesses right now, DUAL is taking a stance by investing in various solutions and talent.
This collab combines DUAL’s underwriting expertise with CyberCube’s modelling tools and APIs, “enabling DUAL to make data-rich decisions in an increasingly complex risk environment.”
Via the collab, DUAL’s underwriting teams “will gain insights to support brokers and clients with solutions.”
By leveraging CyberCube’s analytics, DUAL is now reportedly able to offer actionable intelligence “for day-to-day underwriting and catastrophe modelling, driving resilience and growth in the cyber insurance market.”
Scott Sayce, Group Chief Innovation Officer at DUAL Group, said that their vision is “not just about scale, it’s about leadership and sustainability.”
By investing in people, technology, and partnerships, theyre creating actionable value for their clients and “helping to shape the future of cyber insurance.”
Dave Gillmore, Head of Sales at CyberCube, commented that they are eager to “welcome DUAL Group as a client.”
By licensing Portfolio Manager, SPoF, Account Manager, Attritional Loss Model, and our APIs, DUAL is “equipping its underwriting teams with powerful insights for both day-to-day underwriting and catastrophe modelling.”
This long-term partnership reflects their vision to “grow the cyber insurance market profitably.”
They are eager to support DUAL in strengthening its position as a key player in cyber underwriting, while “together advancing the resilience and growth of the cyber insurance industry as a whole.”
As noted in the update, DUAL is driven by a mission “to be the MGA for brokers, clients and carriers, through provision of underwriting expertise and global distribution.”
DUAL Group is one of the world’s “international underwriting agencies with $3.2bn of GWP.”
DUAL’s investment in data and technology enables it “to deliver over 70 products and services with efficiency to 11,000 broker partners working with over 70 carrier partners.”
Established in 1998, DUAL has over “1,750 people in 21 countries across the Americas, Europe as wel as Asia Pacific, and is one of Lloyd’s’ international coverholders.”
As mentioned in the announcement, CyberCube is the “provider of software-as-a-service cyber risk analytics to quantify cyber risk in financial terms.”
CyberCube leverages data, analytics, artificial intelligence, and human resources “to serve insurance institutions globally.”
The CyberCube platform was established in 2015 “within Symantec and has operated as a standalone company since 2018.”
With offices in San Francisco, New York, Chicago, London, and Tallinn, Estonia, the team notes that it is “committed to helping organizations and society build resilience to cyber risk.”