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July 14, 2022

McGill and Partners taps CyberCube for cyber risk analytics

Specialty re/insurance intermediary McGill and Partners has tapped CyberCube to leverage its cyber risk analytics platforms.

McGill and Partners, which has headquarters in London and New York, launched operations in 2019.

The insurance broker is developing its cyber insurance and reinsurance offerings and the deal with CyberCube is part of its continued development of its cyber (re)insurance strategy.

McGill and Partners will use CyberCube’s Portfolio Manager and Broking Manager cyber risk analytics platforms.

Portfolio Manager is a scenario-based data-driven model, which stress tests portfolios of insurance and reinsurance risks against cyber-related scenarios such as, cloud outages, ransomware attacks, data breaches and financial fraud.

Broking Manager is a software-as-a-service application, which aids in analysing potential financial exposure impacts arising from cyber events, allowing clients to make informed decisions related to coverages and limits.

McGill and Partner reinsurance partner Neil Sharma said: “We are looking to bring all stakeholders in the cyber value chain together; collaborating between our insurance and reinsurance teams and partnering with CyberCube’s platforms which help deepen our understanding of the risks, allowing us to provide best-in-class solutions to our clients.”

CyberCube principal client account manager Alejandra Donoso said: “We are excited to be working with the team at McGill and Partners and be part of the company’s cyber (re)insurance growth strategy on both the direct insurance side via Broking Manager and on its reinsurance side via Portfolio Manager.”

Last month, Australia-based re/insurer QBE Insurance Group collaborated with CyberCube to enhance its cyber capabilities.

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