CyberCube, the global enabler or cyber risk analytics for the insurance industry, announced the launch of Exposure Manager (XM), the tool that allows (re)insurers to evaluate cyber risk across entire portfolios efficiently with “quantified data, with adoption from several (re)insurance companies.”
Working with various players in the market, the “launch of XM marks the beginning of a new era in cyber insurance, delivering transparency into portfolio-level exposures and risk quality, empowering smarter decisions and sustainable growth.”
Until now, stakeholders have been forced to make decisions “about their cyber portfolios with limitations: reinsurers were presented with polished carrier narratives and static summaries to evaluate treaty risk quality, while insurers have grappled with fragmented views across lines, regions, and underwriters.”
With the launch of XM, (re)insurers can “access the underlying data across their cyber portfolios, empowering them to independently audit portfolios, benchmark portfolio risk quality, and proactively manage risk over time.”
Built on CyberCube’s vast ecosystem of enterprise, network, and security data — harnessed by AI and “backed by predictive analytics — XM quantifies risk quality and exposure in unprecedented detail.”
As part of CyberCube’s broader suite, which includes “solutions such as Portfolio Manager for catastrophe modeling, Account Manager for single-risk underwriting, and Broking Manager for broker analytics, XM completes a comprehensive ecosystem that enables the insurance industry to manage cyber risk from every angle.”
XM has been developed from concept in “conjunction with global reinsurer SCOR.”
The team at SCOR has been an invaluable partner, “with its insight, input, and dedication critical for the development of Exposure Manager.”
For insurers, XM enforces consistency and data standardization “across underwriting teams and geographies, tracks security posture and risk evolution over time, and streamlines renewal and reinsurance placement. It brings operational efficiency and strategic foresight to everything from portfolio optimization to executive reporting.”
For reinsurance brokers, XM presents a unified view of their client portfolios, enabling them to “benchmark, advise, and position their clients in the appropriate light, facilitating reinsurance transactions and strategic advisory.”
For reinsurers, XM offers a robust lens to independently “validate cedant submissions, benchmark treaties, and detect underlying risk and emerging exposures.”
It supports data-driven decision-making and “ensures that capital is deployed into portfolios that are truly resilient.”
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 informed by insight, they say they’ve “harnessed the power of artificial intelligence to supplement our multi-disciplinary team. Our clients rely on our solutions to make informed decisions about managing and transferring cyber risks.”
They aim to unpack complex 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 an 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 over 100 insurance institutions globally.”
The company’s investors reportedly include the following: Forgepoint Capital, HSCM Bermuda and Morgan Stanley Tactical Value.
