CyberCube partners with CNA

Partnership enables CNA to broaden cyber insurance underwriting capabilities and address the emerging challenges in measuring cyber aggregation risk

CyberCube, a leading provider of cyber risk analytics for the insurance industry, today announced that CNA, one of the largest U.S. commercial property and casualty insurance companies, has signed an agreement for use of the provider's cyber insurance analytics platform to supplement the insurer's ability to underwrite, price and model cyber risk.

Cyber risks present unique challenges to insurers due to increasingly complex cyber threats, the rapid pace of digitization, and limited historical data. As the global cyber insurance market continues to grow exponentially, CyberCube's cyber risk-modeling platform will enhance CNA's underwriting workflows, provide it with increased cyber aggregation capabilities, and develop a customized view of exposure.

"Our customers face emerging cyber challenges daily," said Andrew Lea, Vice President, Underwriting for Errors & Omissions, Cyber & Media Liability, CNA. "We are thrilled to leverage CyberCube's expertise and risk-modeling capabilities, as they empower our underwriting and risk-modeling teams to better address these challenges."

"CyberCube is excited to partner with CNA to help with underwriting analytics and portfolio management," said Pascal Millaire, CEO of CyberCube. "Our industry-leading cyber risk-modeling platform is powered by several best-in-class data sources and Symantec's world-leading threat intelligence. We are pleased to support CNA, one of the nation's leading insurance providers, in navigating one of the most complex risks facing their customers in the 21st century."

CyberCube risk-modeling platform combines single risk underwriting and aggregation risk modeling to help insurers accurately measure the financial impact of emerging cyber risks. Cyber insurance is one of the fastest-growing insurance lines to emerge in decades, and is expected to reach $20 billion in premium revenue by 2025.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

Climate and cyber: two Cs with catastrophic potential and the insurance business - under debate in Vienna, on April 9

10 years after its inception, the Romanian mandatory dwelling insurance system has progressed and PAID, the pool underwriting and managing the mandatory policies is a strong and financially sound institution. "We are currently managing a reinsurance program worth EUR 920 million, with a pool of excellent reinsurers, more than half of them rated AA+, while the company's solvency rate is of 220%," recently stated Nicoleta RADU, CEO, PAID.

2019-03-21

FITCH: rising claims costs are challenging UK motor insurers

UK motor insurers' profit margins will remain under pressure as insurers struggle to increase premium rates to keep pace with rising claim costs, Fitch Ratings says in a new report. It is difficult to put up prices without losing business as the market is highly competitive and price-sensitive in the UK.

2019-03-21

Book your seat at IFRS 17 Nordics Conference!

IFRS 17 Nordics, taking place on the 9th of May in Stockholm, is a unique chance to gain actionable insights that will help professionals make their IFRS 17 implementation project succeed.

2019-03-14

HANNOVER RE launches an insurtech innovation platform

Germany-based Hannover Re launched a platform designed to bring the insurance companies and insurtech innovators closer. Through the "hr | equarium" platform, Hannover Re wants to facilitate the connection between supply and the demand for insurtech solutions, taking advantage of its worldwide spread.

2019-03-14

AON's NVG further advances Intellectual Property Solutions

AON's New Ventures Group (NVG) will be sponsoring the firm's Intellectual Property Solutions (IPS). IPS aims to help firms identify and manage risks surrounding proprietary data. To accomplish this objective, NVG recently appointed Brian COCHRANE as Chief Commercial Officer.

2019-03-14

Conclusions: TBILISI - the first Georgian International Insurance Conference

The first Georgian International Insurance Conference took place on 14 March 2019. The event put under scrutiny the current status and the future development perspectives of the local market, in an attempt of identifying the main growth opportunities. The forthcoming launch of the mandatory MTPL system was the most important topic on the agenda, as this new line of business has the potential to provide for a significant growth, but also to become a market disruptor.

2019-03-14

ON THE MOVE

Bulgaria: Boiko ATANASSOV appointed as FSC's head

The Parliament of the Republic of Bulgaria appointed Boiko ATANASSOV as Chairperson of the Financial Supervision Commission (FSC) on March 15, with 134 votes in favour, none opposed or abstained.

21.03.2019

TOP EVENT

Climate and cyber: two Cs with catastrophic potential and the insurance business - under debate in Vienna, on April 9

10 years after its inception, the Romanian mandatory dwelling insurance system has progressed and PAID, the pool underwriting and managing the mandatory policies is a strong and financially sound institution. "We are currently managing a reinsurance program worth EUR 920 million, with a pool of excellent reinsurers, more than half of them rated AA+, while the company's solvency rate is of 220%," recently stated Nicoleta RADU, CEO, PAID.

21.03.2019

Conclusions: TBILISI - the first Georgian International Insurance Conference

The first Georgian International Insurance Conference took place on 14 March 2019. The event put under scrutiny the current status and the future development perspectives of the local market, in an attempt of identifying the main growth opportunities. The forthcoming launch of the mandatory MTPL system was the most important topic on the agenda, as this new line of business has the potential to provide for a significant growth, but also to become a market disruptor.

14.03.2019

See all