Insurance brokerage and risk management firm Risk Strategies has partnered with CyberCube to launch latter’s Broking Manager, an analytics platform on cyber risks for insurance intermediaries.
Furthermore, Risk Strategies will be tapping Application Programming Interface (API) aspects from CyberCube’s solutions for analytics.
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Broking Manager is claimed to be the first software-as-a-service application that CyberCube has developed for the insurance broking community.
This application provides a streamlined way of generating financial exposure impact. Equipped with this ability, clients will be able to make informed decisions on coverages and limits.
Broking Manager will enable the team of Risk Strategies to quantify as well as inform their clients about the sources and the financial impact of being exposed to cyber risks.
Furthermore, the platform also generates reports, which will be useful to educate prospects and clients on potential sources of loss, recent and important cyber events, and benchmarking on peer-to-peer basis.
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By GlobalDataCyberCube’s APIs offers access to platform that features models, signals, and data.
These external APIs allow the integration of CyberCube’s models into a firm’s business workflow, thereby providing operational efficiency and streamlining cyber risk modeling ecosystem.
CyberCube’s API will play an important role in offering insight to clients of Risk Strategies’ Cyber Resolute offering, which provides coverage and access to cyber response forensics and legal teams besides proactive remediation services.
Risk Strategies cyber liability practice leader Robert Rosenzweig said: “As a leader in specialty risk and liability insurance, we’re focused on helping clients understand the evolving threat that cyber exposures pose to their businesses.
“This partnership with CyberCube will let us present our clients with the information we need to help them develop strategies to effectively mitigate their cyber risk.”
CyberCube CEO Pascal Millaire said: “This partnership with Risk Strategies is a great example of the incredible innovation occurring in the cyber insurance space. Not only is Risk Strategies delivering cutting edge analytics to its clients drawing on the immense data from the CyberCube platform, but it is also reshaping how insurance institutions can transact efficiently through the power of APIs. Streamlined, data-driven, API-enabled commercial insurance is the future of this market and Risk Strategies is leading the way with CyberCube.”
Broking Manager is claimed to complement CyberCube’s Portfolio Manager and Account Manager, which are intended for risk carriers.
