Reinsurer Howden has expanded its partnership with Cyberwrite, a supplier of cyber threat modelling, throughout 52 international locations and 7 languages.
The partnership will improve the flexibility of Howden’s brokers worldwide to evaluate cyber dangers extra “successfully”.
Cyberwrite claims that its superior cyber threat quantification expertise will equip Howden brokers with the instruments to supply purchasers with actionable threat insights and benchmark their cyber publicity towards trade friends.
This permits companies of all sizes to raised perceive their cyber dangers and optimise their insurance coverage protection, the corporate added.
The collaboration goals to deal with the challenges brokers encounter when promoting cyber insurance policies, similar to shopper training, coverage optimisation and underwriting effectivity.
By leveraging Cyberwrite’s AI-driven cyber threat reviews, powered by its patented 4SEEN expertise, the insurer will achieve deeper insights into cyber threat, enhancing confidence within the underwriting course of.
Cyberwrite CEO and founder Nir Perry stated: “Cyber insurance coverage is changing into an important a part of enterprise resilience, and Howden is main the cost in delivering smarter cyber threat options globally. By equipping Howden brokers with Cyberwrite’s patented AI-driven real-time threat reviews, we’re serving to companies worldwide make knowledgeable choices and safe the protection they want towards rising cyber threats.”
In accordance with Howden’s 2024 cyber report, the insurance coverage market has seen a 15% discount in pricing from its 2022 peak.
Howden cyber international head Shay Simkin said: “By integrating Cyberwrite’s reviews into our cutting-edge Cyber+ system, we’re capable of supply the best-of-breed cyber threat reviews worldwide in actual time to our buyer base and past.
“We’ve got been utilizing Cyberwrite’s expertise since 2019, and increasing this relationship permits us to supply extra context about threat publicity to firms that don’t perceive how susceptible they’re.”
Moreover, Cyberwrite expanded its threat evaluation capabilities to incorporate disaster modelling, which helps reinsurance brokers in assessing threat and speaking it to purchasers.
Just lately, Howden agreed to amass Barnett Waddingham, a UK-based consultancy providing insurance coverage, threat, pensions and funding companies.
“Howden expands partnership with Cyberwrite for cyber threat insights ” was initially created and revealed by Life Insurance coverage Worldwide, a GlobalData owned model.
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