New cyber analytics solution for insurance brokers launched

Cyber risk analytics specialist CyberCube has launched a new software-as-a-service application designed specifically for insurance brokers.

The product, called Broking Manager, is built to help brokers quantify, understand, and explain to their clients, the sources and financial impact of cyber risk exposure.

The tool leverages advanced models to draw on data from a large number of sources including behind the firewall and perimeter scan data, historical incidents and losses, and firmographic data.

Oren Schetrit, CyberCube’s director of product, said: “With Broking Manager we set out to tackle the most fundamental question facing brokers today; what coverages and limits do companies need? We’ve had considerable interest from the broking community internationally, so we felt the time was right to build and launch this product.

“Brokers play a vital role in helping clients identify and manage risk. Our goal is to empower them to quantify and explain cyber risk exposure to a broad audience without becoming experts in information security. Broking Manager will promote informed conversations that will ultimately lead to better buying decisions.”

Ashwin Kashyap, co-founder of CyberCube and head of product and analytics, said: “Cyber insurance as a line of business is still in its early stages of growth and there is a clear need for a solution to help companies make informed decisions on what they need to buy. As trusted advisors to companies on their cyber insurance purchase, insurance brokers play a very important role in the ecosystem by connecting insurance buyers with carriers. CyberCube has built a solution to enable the growth of the cyber insurance market and support this important segment in the insurance value chain."