Ariel Re, a premier global reinsurance business with offices in Bermuda, London and Hong Kong, is expanding its partnership with cyber risk analytics leader CyberCube by licensing its Industry Exposure Databases and Portfolio Manager APIs.
Ariel Re already licenses Portfolio Manager from CyberCube. Portfolio Manager is the (re)insurance industry’s cyber risk modeling platform of choice, allowing stress testing of portfolios against a range of systemic cyber-related scenarios including data breaches, cloud outages, and global ransomware attacks among others.
CyberCube’s Industry Exposure Databases were launched in October 2022 to enable (re)insurers and brokers to perform a wide array of benchmarking, sensitivity, and real-time analyses for cyber risks. They provide a foundation for cyber risk models and include CyberCube’s Economic Exposure Database (EED) and Industry Exposure Database (IED). The databases are designed to work seamlessly with Portfolio Manager, the industry’s leading cyber portfolio modeling solution. With both, clients can view each Exposure Database and run analyses to develop industry loss estimates.
Portfolio Manager analytics are also available via CyberCube’s CyberConnect API offering to support integration and automation of workflows into client systems.
Simon Shreeve, CyberCube Principal Client Account Manager, said: “We are thrilled to expand our partnership with the Ariel Re team to enhance the analytics within its decision-making process. Ariel Re is operating with a granular and sophisticated view of risk, taking into account multiple data sources, in-house expertise and new comparative analytics to enable better risk selection and pricing to support its cyber reinsurance growth plans. We are excited to help Ariel drive innovation in the cyber reinsurance industry.”
Daniel Carr, Head of Cyber at Ariel Re, said: “As we increasingly embed and expand our analytics capabilities in support of our reinsurance offerings, adding these tools to our partnership with CyberCube allows us to further sensitivity test, benchmark and stress test our deals and wider portfolio more easily. This enables us to communicate more effectively with all stakeholders, helping us to support our customers with tailored risk transfer solutions and continue to grow and innovate within the market with confidence. CyberCube is proving us with solutions that will further our vision of being the premier manager of reinsurance risk.”
Visit AITechPark for cutting-edge Tech Trends around AI, ML, Cybersecurity, along with AITech News, and timely updates from industry professionals!
