CyberCube has retained the cyber risk solution of the year title as it continues to develop and expand its offerings aimed specifically at the needs of re/insurance underwriters, brokers and portfolio managers.
In the last 12 months the cyber risk analytics provider's client list hit the 100 mark. In addition to existing clients including Chubb, Beazley and Munich Re, the firm established relationships with Aviva and Ariel Re, among others, in 2023.
CyberCube claims its analytics are now used by 75% of the top 40 US and European cyber insurance carriers (by gross written premiums) to drive decision-making, manage risk and build cyber resilience.
"Cyber risk presents a complex, growing, and increasingly multifaceted threat to the operations of all kinds of organisations around the world," says Yvette Essen, head of content, communications and creative at CyberCube.
"By helping re/insurance and insurance-linked securities (ILS) providers understand how to deliver the affordable, sustainable and effective protection these organisations need, we're providing a globally mission-critical service."
In December 2023, the firm also unveiled version 5.0 of Account Manager, a software-as-a-service solution designed for single-risk re/insurance underwriters, to boost the capabilities of its Portfolio Manager product.
Users of both CyberCube'sAccount Manager and Portfolio Manager offerings can now measure how much any individual account impacts the loss profile of their overall portfolio in seconds, without requiring any additional modelling resources or delay. CyberCube adds the upgrades also include data enhancements designed to improve the quality of company footprints and signal measurements.
"An increasingly mature cyber re/insurance market is set to be worth $500bn within three years," says Essen.
"By continuing to develop our comprehensive arsenal of market-leading cyber analytics capabilities, CyberCube aims to help re/insurers and ILS market participants respond with cyber risk solutions that are both innovative and sustainable."
