London-based digital risk processing platform Cytora has partnered with cyber risk analytics provider CyberCube to enable commercial insurers gain a more streamlined and informed understanding of the risks posed by cyber breaches.
With this partnership, CyberCube’s cyber risk analytics and modelling capabilities will be combined into Cytora’s platform, thereby giving insurers real data and insights that help them to have an informed view of cyber risks along with any potential threats.
Having a thorough understanding of risks will enable commercial insurers to take faster and better decisions.
This collaboration builds on the growing ecosystem of data and insight providers pre-integrated into the Cytora platform, thereby allowing an integrated end-to-end customer journey.
Cytora COO Juan de Castro said: “As businesses become more reliant on technology, cyber risks are becoming a significant concern for commercial insurance underwriters.
“Our partnership with CyberCube will provide underwriters with the insights they need to better understand their clients’ cyber risks and make more informed underwriting decisions. This is an important step in our mission to empower insurers with the tools they need to make more data-driven decisions and to better manage risk.”
CyberCube head of client engagement and technology partnerships Ross Wirthsaid: “We are excited to partner with Cytora to power underwriter decisions, via more complete understanding of the cyber risks facing their clients.
“Our advanced modelling and analytics capabilities, combined with Cytora’s innovative risk processing platform, will enable underwriters to make more accurate, data-driven underwriting decisions, and to protect their clients against cyber risks.”
Founded in 2014, Cytora has partnered with insurers such as QBE, Starr, and XL Catlin.
In March this year, HDI Global partnered with insurtech Cytora to boost its broker and client experience by streamlining global risk processing workflows.