CyberCube Launches First Cyber Analytics Product for Broker Market – InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Life Insurance News
    • Annuity News
    • Health/Employee Benefits
    • Property and Casualty
    • Advisor News
    • Washington Wire
    • Regulation News
    • Sponsored Articles
    • Monthly Focus
  • INN Exclusives
  • NewsWires
  • Magazine
  • Webinars
  • Free Newsletters
Sign in or register to be an INNsider.
  • Exclusives
  • NewsWires
  • Magazine
  • Webinars
  • Free Newsletters
  • Insider Pro
  • About
  • Advertise
  • Editorial Staff
  • Contact
  • Newsletters

Get Social

  • Facebook
  • Twitter
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
May 11, 2020 Newswires No comments
Share
Share
Tweet
Email

CyberCube Launches First Cyber Analytics Product for Broker Market

Business Wire

LONDON--(BUSINESS WIRE)-- Cyber risk analytics specialist CyberCube has launched “Broking Manager” – a new software-as-a-service application designed specifically for insurance brokers.

“Broking Manager” facilitates quick and efficient client insight for both generalist and cyber specialist brokers. The product is built to help brokers quantify, understand, and explain to their clients, the sources and financial impact of cyber risk exposure.

This development recognizes that insurance advisors need to be able to educate prospects and clients while demonstrating an understanding of their needs and exposures. Brokers are expected to align clients’ goals, budgets, and exposure to the appropriate limits and best-fit carrier policies. With cyber risk, this means understanding the types of scenarios that may cause financial loss and the costs that would drive losses. Knowing where a client can increase or cut back on premium dollars while still hitting their coverage goals is imperative to helping them optimize their budget.

Related stories

  • drug prices lawmakers try again to cap insulin costs
  • Medicaid As provisions lapse, millions approach a coverage cliff

Broking Manager empowers brokers to instantly produce a cyber financial loss report on millions of companies, while providing rich information to help brokers articulate their clients’ cyber exposure. It does so by leveraging advanced models that draw on data from a large number of sources including behind the firewall and perimeter scan data, historical incidents and losses, and firmographic data. The product offers a stream-lined approach to generating the financial exposure impact of client-specific security and business practices. Brokers can also leverage the product to educate clients on potential loss classes, recent cyber events, and benchmarking of cyber risks against peers.

Oren Schetrit, CyberCube’s Director of Product, said: “With Broking Manager we set out to tackle the most fundamental question facing brokers today; what coverages and limits do companies need? We’ve had considerable interest from the broking community internationally, so we felt the time was right to build and launch this product.

“Brokers play a vital role in helping clients identify and manage risk. Our goal is to empower them to quantify and explain cyber risk exposure to a broad audience without becoming experts in information security. Broking Manager will promote informed conversations that will ultimately lead to better buying decisions.”

Ashwin Kashyap, Co-founder of CyberCube and Head of Product and Analytics, said: “Cyber insurance as a line of business is still in its early stages of growth and there is a clear need for a solution to help companies make informed decisions on what they need to buy. As trusted advisors to companies on their cyber insurance purchase, insurance brokers play a very important role in the ecosystem by connecting insurance buyers with carriers. CyberCube has built a solution to enable the growth of the cyber insurance market and support this important segment in the insurance value chain."

Broking Manager is the third product in CyberCube’s suite of applications, alongside Portfolio Manager and Account Manager. Portfolio Manager is used by insurers to stress tests portfolios of cyber risks against dozens of cyber-based scenarios. Account Manager is used during the underwriting process itself to provide underwriting teams with a detailed analysis of cyber risk.

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 Software-as-a-Service platform helps insurance companies make better decisions when underwriting or advising on 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 [email protected]

View source version on businesswire.com: https://www.businesswire.com/news/home/20200511005173/en/

Yvette Essen
Head of Content & Communications

[email protected]

Source: CyberCube

Older

Restart Or Re-Stop? Economies Reopen But Chaos Abounds

Newer

420 with CNW – Massachusetts Bill Seeks COVID-19 Relief for Marijuana Businesses

Advisor News

  • Fed slows rate hikes even as Powell says there's more work to do
  • Mortgage rates in U.S. fall again, hit 6.09%
  • 1 in 3 Americans struggling financially but goal-setting is a game-changer
  • Advisors bet on US stocks to outperform in 2023 amid tech rebound
  • Investors want more ESG information from companies
More Advisor News

Annuity News

  • Study: Does pessimism really suppress annuity sales?
  • Sweet streams of income: ChatGPT, the bard of annuities
  • F&G Annuities & Life announces equity investment in life IMO SYNCIS
  • Investors scrambling to lock in rates propel annuity sales to record highs
  • North American and Annexus launch new fixed index annuity
Sponsor
More Annuity News

Health/Employee Benefits News

  • State: all insurers failed to comply with Oregon Reproductive Health Equity Act
  • Will plan fix California health care?
  • Insurance giant Elevance to move into 15th state
  • Medicare card scam targets seniors for personal info
  • Yes, states are re-checking Medicaid and CHIP eligibility starting in April
More Health/Employee Benefits News

Life Insurance News

  • Maid's son tells judge Alex Murdaugh took $4M for her death
  • Chris Wilson tells court former friend Murdaugh confessed he was ‘stealing money’
  • State's motive testimony could prolong Alex Murdaugh murder trial
  • Equitable expands portfolio in VUL market
  • New date set for billionaire suspect accused of bribing state cabinet member
More Life Insurance News

- Presented By -

Top Read Stories

  • Chicago news roundup: PPP fraud uncovered in Chicago, informant reveals $100K bounty on FBG Duck and more
  • Gov. Carney: Enrollment on Delaware's Health Insurance Marketplace for 2023 Reaches All-Time High
  • 25 people charged in fake nursing diploma operation
  • Connecticut addressing broker shortage amid The Great Unwinding
  • Pennsylvania woman sentenced in elderly fraud case
More Top Read Stories >

FEATURED OFFERS

Meet Encova Life
We know agents matter. You can count on our life team to be high tech, high touch and responsive.

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Life Insurance News
  • Annuity News
  • Health/Employee Benefits
  • Property and Casualty
  • Advisor News
  • Washington Wire
  • Regulation News
  • Sponsored Articles
  • Monthly Focus

Top Sections

  • Life Insurance News
  • Annuity News
  • Health/Employee Benefits News
  • Property and Casualty News
  • AdvisorNews
  • Washington Wire
  • Insurance Webinars

Our Company

  • About
  • Editorial Staff
  • Magazine
  • Write for INN
  • Advertise
  • Contact

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2023 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • AdvisorNews

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.