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June 6, 2019updated 07 Jun 2019 5:45am

Aon and CyberCube partner to enhance cyber risk aggregation management

Aon, a UK-based professional services firm, has selected CyberCube’s cyber insurance analytics platform to provide cyber (re)insurance solutions to its insurance carrier clients.

Leveraging CyberCube’s cyber risk-modelling platform, Aon will be able to supports its clients on accumulation risk management along with exposure measurement.

As a result, insurance companies can price cover more accurately and offer more relevant products to their customers.

Now, CyberCube has been integrated with Aon’s CyberMetrica platform for aggregation management. It provides insurers a broad suite of internal and external tools and expertise as part of its multi-model approach.

Aon global head of cyber for reinsurance solutions business Catherine Mulligan said: “Technology is a critical part of an insurer’s armoury.

“Our collaboration with CyberCube enhances our multi-model approach, which enables insurers to more accurately quantify aggregation in their portfolio for more informed underwriting, while helping customers to understand their own cyber exposures and develop appropriate controls.”

CyberCube CEO Pascal Millaire said: “CyberCube is delighted to support Aon in building the market for one of the largest opportunities – and threats – to the global P&C (re)insurance sector in our generation.

“Our industry-leading cyber risk-modelling platform is powered by best-in-class data sources and Symantec’s leading threat intelligence. We are pleased to use these capabilities to support Aon and its insurance carrier clients in this important emerging risk.”

Last month, Aon joined the Institutes’ RiskStream Collaborative’s blockchain consortium to test blockchain-based applications, aimed at slashing industry transaction expenses and improve customers’ experience.

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