The programme from Envelop is for cedents who want to either enter the cyber risk market or expand their existing participation.
Furthermore, the initiative is designed to help cedents take advantage of cyber in a controlled and profitable way.
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In addition, it will be led by Envelop co-founder Jonathan Spry and executive vice president Simon Welton. They will make Envelop’s solutions available to partners, enabling them to develop enhanced levels of sophistication in managing cyber risk.
Benefits include access to:
- Customisable cyber insurance using Envelop’s analytics and modular wordings;
- A-rated reinsurance capacity;
- Claims handling and incident response support;
- Bespoke treaty structuring;
- Pricing models;
- Underwriting tools, and
- Advisory services – threat intelligence and portfolio analysis.
Spry said: “We are looking to add considerable value to our long-term partnerships, through this initiative. Envelop has the proven data, tech, knowledge and expertise to help cedents either enter the cyber market or scale their existing cyber business more easily. We can also assist with capital management and our engagement with Lloyd’s is continuing to grow. This initiative extends and is very much part of our mission to transform how the insurance industry quantifies and manages cyber risk by thinking like an intelligence agency and deploying the best available technology thoughtfully.”
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