US-based data analytics firm EXL has joined forces with CyberCube to develop cyber insurance offerings for the property and casualty industry.

The collaboration is aimed at providing a framework to insurers for the development of comprehensive cyber risk policies.

EXL and CyberCube aim to achieve this by bringing together a range of traditional cyber risk measures, such as industry-specific threat risk scores, signals and financial loss models, along with non-traditional data and real-time threat assessment.

The new offering is anticipated to create a single view of risk that can be applied and tracked across the organisation to standardise cyber risk underwriting.

It will centre on underwriting optimisation leveraging CyberCube’s single-risk product Account Manager.

EXL global head of P&C commercial insurance and insurtech Raghav Maheshwari said: “Cyber is a tough class of business and we are seeing an uptick in both frequency and severity of loss activity. The biggest challenge we see insurers facing in this space is the lack of continuity and consistency in the way cyber risk is measured, tracked and reported.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“By working together with CyberCube, we will create a proprietary view of cyber risk that standardizes how underwriters will evaluate and underwrite cyber risks, simplify the way underwriting teams can ingest data and assess cyber risks, and ultimately provide a support model for cyber underwriters.”

CyberCube head of client account management and technology services Ross Wirth said: “Our partnership with EXL is an exciting opportunity for CyberCube to expand support to our clients by developing a customised operating model to best incorporate Account Manager and its scores and signals into their daily workflow in a customizable and repeatable fashion.”

Last month, Baldwin Risk Partners, an insurance distribution firm, turned to CyberCube to support long-term cyber growth.