Cyber risk analytics leader CyberCube has launched Version 3 of Account Manager – its software-as-a-service application designed for underwriters.
Cyber underwriters face many challenges when evaluating, selecting, and pricing risks for long-term profitability. Account Manager enables underwriters to make efficient, data-driven risk selection decisions.
This new version of Account Manager addresses many pressing needs in today’s market. Over the past two years, losses have been on the rise due to ransomware, phishing, business email compromise, and other types of cyber threats. Account Manager Version 3 equips underwriters to make astute underwriting risk decisions by providing a host of new risk indicators including ransomware-specific insights. In addition, Version 3 offers a financial loss model that helps underwriters make more informed pricing decisions through an objective analysis of the loss potential of a company.
Designed by CyberCube’s underwriting and cybersecurity specialists, Account Manager insights are easy to understand and actionable for both generalist and cyber specialist underwriters. All of the insights in Account Manager are derived from a rich data lake of millions of firmographic, technographic, and cyber security data points which are curated and transformed into relevant and statistically significant risk indicators of cyber incidents.
Judy Chow, CyberCube’s Director of Product, said: “We recognize that timely and relevant insights are imperative to the success of a cyber underwriting practice. To win, underwriters need information that they can understand and act upon. Our investments in Account Manager Version 3 were laser-focused on the areas that matter most to underwriters - ransomware-specific indicators, actionable insights, and loss quantification. Making these insights available in one place through our application and flexibly through APIs ensures that we’re empowering our clients to easily customize their strategies.”
Ashwin Kashyap, Co-founder of CyberCube and Chief Product Officer, said: “In a hardening cyber insurance market, Account Manager helps underwriters generate alpha by helping select and price risks appropriately through targeted risk-specific insights. CyberCube’s experts have curated risk factors, such as evidence of infrastructure abuse, that can help boost underwriting performance significantly. In addition, we have connected these risk factors to loss, enabling market participants to price risks adequately and achieve sustainable growth.”
Account Manager is among a suite of end-to-end solutions in CyberCube’s portfolio of products including Portfolio Manager and Broking Manager. Portfolio Manager is used by insurers to manage portfolios of cyber risks against dozens of cyber-based scenarios. Broking Manager is designed to help brokers quantify, understand, and explain to their clients, the sources and financial impact of cyber risk exposure.
ENDS
About CyberCube
CyberCube delivers the world’s leading cyber risk analytics for the insurance industry. With best-in-class data access and advanced multi-disciplinary analytics, the company’s cloud-based platform helps insurance organizations make better decisions when placing insurance, underwriting cyber risk and managing cyber risk aggregation. CyberCube’s enterprise intelligence layer provides insights on millions of companies globally and includes modeling on thousands of points of technology failure.
The CyberCube platform was established in 2015 within Symantec and now operates as a standalone company exclusively focused on the insurance industry, with access to an unparalleled ecosystem of data partners and backing from ForgePoint Capital, HSCM Bermuda, MTech Capital and individuals from Stone Point Capital. For more information, please visit www.cybcube.com or email info@cybcube.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211019005565/en/
Contacts
Yvette Essen
Head of Content & Communications
yvettee@cybcube.com
