JLT Re, the London-based reinsurance broker and consultancy, announced it has formed a partnership with CyberCube, the cyber risk modeling platform.
JLT Re’s existing cyber and enterprise modelling tools, combined with CyberCube, will provide unique insights to help clients manage and measure cyber risk and exposure, the company said in a statement.
CyberCube’s robust and innovative analytics, including fully probabilistic capabilities and a wide range of possible loss scenarios, will enhance JLT Re’s offering to its clients providing them with the vital information they need to manage their cyber strategy, the broker continued.
With access to unique data sources including Symantec’s security telemetry, CyberCube is able to support JLT Re in delivering sophisticated modelling capabilities for their clients.
“With the cyber market growing at more than 20 percent per year, the need to understand and manage cyber risk challenges is more important than ever,” commented David Flandro, global head of Analytics for JLT Re.
“JLT Re’s continued investment in developing market leading analytical tools will help clients solve some of the most complex cyber issues, particularly in regard to aggregation concerns,” he added.
“Cyber aggregation is one of the most important and difficult issues facing the insurance industry. We are excited to be working with JLT Re to bring our distinctive data and industry-leading models to help more insurers better understand this dynamic new risk,” remarked Pascal Millaire, CEO of San Francisco-based CyberCube. The CyberCube platform was established in 2015 by Symantec and now operates as a standalone company with continued access to Symantec data and resources.
Global CEO of JLT Re, Michael Reynolds, said, “This partnership will allow us to provide meaningful insights to clients by combining our proprietary modeling tools with that of CyberCube’s unique resources. As a result, we will offer sustainable and material benefits tailored to fit our clients’ needs.”
Source: JLT Re
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