Mapfre Re has partnered with Israeli cyber risk modelling company Kovrr to manage cyber risk exposure.
This partnership will be used by the reinsurer to better assess cyber risk exposure as well as enhance underwriting and pricing capabilities.
Kovrr’s event catalogue has been updated based on proprietary data sources, which shows changes in the cyber threat landscape.
The updated catalogue gives a better view of new risks, threat actors, attack methods, and ransomware and malware campaigns.
Kovrr said that the new features of its model and platform will help the customer understand, financially quantify and manage cyber risk in their portfolios and provide the most accurate information for pricing.
MAPFRE RE cyber head Oscar Taboada said: “We are excited to expand our partnership with Kovrr and begin using the newest features in their Portfolio Exposure Management solution.
“Based on robust event catalogue data and industry leading usability, their intuitive and transparent platform allows us to better understand and manage cyber risk to improve our decision making, helping us manage our accumulated cyber risk exposure as well as underwriting tasks.”
Kovrr chief product officer & co-founder Shalom Bublil said: “It is great to be able to establish our partnership with MAPFRE RE to truly understand the quantification capabilities needed by innovational businesses and continue to use our cyber expertise to bring the top notch cyber risk models to the market”
Last week, Acrisure Re launched a London-based cyber reinsurance division in partnership with Kovrr.
