Hong Kong-based world reinsurance company, Peak Re is targeting to grow its beingness successful nan world cyber marketplace pinch thief of cyber consequence analytics master CyberCube.
According to nan announcement, Peak Re – which has a world portfolio pinch a dense beingness successful its halfway Asian markets – will licence CyberCube’s Portfolio Manager, a instrumentality that will thief nan reinsurer quantify customer cyber exposure.
Portfolio Manager is simply a cyber consequence accumulation exemplary that enables ew/insurance professionals to create insights for their elder activity and teams, allowing them to leverage CyberCube’s robust information reservoir and cybersecurity expertise.
It besides allows accent testing of cyber portfolios truthful that nonaccomplishment drivers and imaginable accumulation events tin beryllium identified.
Edward Shen, Director, Head of Casualty Product Underwriting of Peak Re, commented: “By utilizing CyberCube’s platform, Peak Re will heighten its beingness successful nan cyber marketplace pinch greater confidence.
“Data-driven analytics will supply america pinch a deeper knowing of accumulation consequence and thief america amended service our customers successful nan anticipation of nan continuing increasing request for cyber reinsurance globally.”
Jon Choi, CyberCube Principal Consultant and Actuary, said: “Peak Re’s beingness successful nan marketplace and usage of Portfolio Manager will thief to create innovative reinsurance solutions for cyber perils successful Asia and beyond.
“Our instrumentality will empower Peak Re to understand cyber consequence better, peculiarly pinch regards to nan unsocial technologies and opportunities wrong nan Asian marketplace arsenic it pertains to nan evolving consequence of cyber threats.”
Ross Smith, CyberCube Sales Manager, added: “We are delighted Peak Re has chosen CyberCube arsenic its underlying exemplary for making informed decisions. Our business pinch Peak Re will go a catalyst to proceed nan maturation and description of cyber capacity crossed different markets.”