SAN FRANCISCO–(BUSINESS WIRE)–Leading cyber risk analytics provider CyberCube will partner with AkinovA Limited (AkinovA), an electronic marketplace for insurance risk transfer and trading, to enable AkinovA customers to benefit from CyberCube’s modeling and analysis.
The partnership will see CyberCube’s products made available on AkinovA’s platform. By doing so, the entire risk transfer industry value chain can access CyberCube’s sophisticated models. CyberCube’s models are based on purpose-built cyber risk scenarios including ransomware attacks, cloud outages, and major systemic risks to help insurance, reinsurance, and insurance-related title organizations (ILS) to make better decisions when placing and managing cyber risks.
Juan Marcano, Alternative Risk Transfer Principal at CyberCube, said, “As a trusted enabler of the risk transfer industry and a strong advocate for the benefits of new technologies, AkinovA is an ideal partner for us at CyberCube. This is a true vote of confidence in CyberCube’s products and the information they generate.
“Our products provide businesses with the insights they need to make informed choices about cyber risk. By combining our knowledge of the cyber ecosystem and our modeling capabilities, we are able to model various cyber scenarios that can be used to test portfolios and even individual risks. The insights gained from these exercises are essential for the effective pricing and management of a cyber risk portfolio. »
Henri Winand, CEO of AkinovA, said: “In 2020, AkinovA pioneered the first risk transfer of cloud-based power generation disruption and cybersecurity induced power generation with the AkinovA’s ecosystem partners, including a leading broker and underwriting capital. One of the challenges was to quantify the risk itself. This partnership with CyberCube represents an important step in our goal of bringing new risk and capital to the risk transfer market. By joining forces with CyberCube, we provide access to the tools policyholders, brokers and capital providers need to fully understand and evaluate one of the fastest growing segments in risk transfer.
CyberCube provides the world’s leading analytics to quantify cyber risk for the insurance industry. With best-in-class data access and advanced multidisciplinary analytics, the company’s cloud-based platform helps insurance companies make better decisions when underwriting insurance, underwriting cyber- risks and managing the aggregation of cyber risks. CyberCube’s business intelligence layer provides insights into millions of businesses and includes modeling of thousands of technology failure points.