Reinsurer Howden has expanded its partnership with Cyberwrite, a provider of cyber risk modelling, across 52 countries and seven languages.
The partnership will enhance the ability of Howden’s brokers worldwide to assess cyber risks more “effectively”.
Cyberwrite claims that its advanced cyber risk quantification technology will equip Howden brokers with the tools to provide clients with actionable risk insights and benchmark their cyber exposure against industry peers.
This enables businesses of all sizes to better understand their cyber risks and optimise their insurance coverage, the company added.
The collaboration aims to tackle the challenges brokers encounter when selling cyber policies, such as client education, policy optimisation and underwriting efficiency.
By leveraging Cyberwrite’s AI-driven cyber risk reports, powered by its patented 4SEEN technology, the insurer will gain deeper insights into cyber risk, improving confidence in the underwriting process.
Cyberwrite CEO and founder Nir Perry said: “Cyber insurance is becoming an essential part of business resilience, and Howden is leading the charge in delivering smarter cyber risk solutions globally. By equipping Howden brokers with Cyberwrite’s patented AI-driven real-time risk reports, we are helping businesses worldwide make informed decisions and secure the coverage they need against growing cyber threats.”
According to Howden’s 2024 cyber report, the insurance market has seen a 15% reduction in pricing from its 2022 peak.
Howden cyber global head Shay Simkin stated: “By integrating Cyberwrite’s reports into our cutting-edge Cyber+ system, we are able to offer the best-of-breed cyber risk reports worldwide in real time to our customer base and beyond.
“We have been using Cyberwrite’s technology since 2019, and expanding this relationship allows us to provide more context about risk exposure to companies that don’t understand how vulnerable they are.”
Additionally, Cyberwrite expanded its risk assessment capabilities to include catastrophe modelling, which supports reinsurance brokers in assessing risk and communicating it to clients.
Recently, Howden agreed to acquire Barnett Waddingham, a UK-based consultancy offering insurance, risk, pensions and investment services.
