CatX, a digital marketplace for connecting reinsurers and brokers with alternative capital, has formed a partnership with cyber risk analytics provider CyberCube. 

This collaboration aims to enhance CatX’s capabilities to assist in modelling and pricing cyber risks and providing brokers and reinsurers with advanced tools to expand their capacity bases.  

Under the alliance, CyberCube’s Portfolio Manager will be integrated into CatX’s platform to offer portfolio-level insights for informed decision-making in the insurance industry. 

The partnership with CyberCube will enable CatX to offer its customers access to advanced industry exposure databases.  

These databases are crucial for reinsurers and brokers as they enable comprehensive benchmarking, sensitivity and analysis for cyber risks, particularly when considering participation in industry loss warranties.  

Institutional investors will also benefit from the partnership, gaining deeper insights into cyber risks to make more informed investment decisions. 

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CatX CEO Benedict Altier said: “We are seeing strong demand from investors for cyber insurance-linked security (ILS) products and expect to see this segment expand significantly over the next few years.  

“Alternative capital will play a critical role in improving the stability of the broader cyber market insurance market. Partnering with CyberCube will give brokers, insurers and investors access to leading cyber risk analytics directly on the CatX platform.” 

CyberCube head of partnership & ecosystem Ross Wirth said: “This strategic partnership will help provide greater confidence to investors seeking additional access to investments such as industry loss warranties.  

“We are thrilled to enable investor access to CyberCube’s leading models on the CatX platform, providing another source of capital in this quickly expanding market.” 

Earlier in February, CatX strengthened its analytical capabilities by partnering with risk modeller Moody’s RMS.  

This alliance was focused on integrating Moody’s RMS risk analytics into the CatX platform, thus providing brokers and cedents with access to an expanded capacity base.  

These partnerships follow US-based CatX’s successful $2.7m seed funding round earlier this year.