CyberCube has partnered with CatX, a digital marketplace that connects (re)insurers and brokers with alternative capital, to enhance CatX’s capabilities in cyber risk analytics. The collaboration aims to improve CatX’s capacity to model and price cyber risks more effectively, thereby supporting brokers and (re)insurers in expanding their capacity bases.
The partnership will see the integration of CyberCube’s Portfolio Manager into the CatX platform. This model provides portfolio-level insights that are crucial for senior leadership decision-making. Additionally, CatX customers will benefit from CyberCube’s Industry Exposure Databases. This allows for detailed benchmarking, sensitivity analyses, and evaluations of cyber risks. These are particularly useful for those involved in Industry Loss Warranties (ILW).
“Investor Confidence”
Ross Wirth, Head of Partnership & Ecosystem at CyberCube, commented on the partnership, “This collaboration will enhance investor confidence and expand access to investments such as industry loss warranties. We are excited to make CyberCube’s models available on the CatX platform, adding another source of capital in this expanding market.”
Benedict Altier, CatX’s Chief Executive Officer, highlighted the market trends. “There is strong demand from investors for cyber insurance-linked security (ILS) products, and we expect this segment to expand significantly in the coming years. Alternative capital will be crucial in enhancing the stability of the cyber insurance market. Our partnership with CyberCube gives brokers, insurers, and investors access to top-tier cyber risk analytics,” said Altier.
Lucas Schneider, Chief Technology Officer at CatX, outlined the technical benefits: “Working with CyberCube will help us advance our goal to become the top platform for cyber index-based and parametric reinsurance and retrocession transactions. CyberCube’s datasets will enhance our ILS-analytics suite, supporting risk-adjusted pricing, scenario analysis, and benchmarking.”
CyberCube and CatX have designed their collaboration to improve cyber risk management by leveraging advanced analytics and comprehensive data. As the cyber insurance market evolves, driven by investor interest in sophisticated financial products, such collaborations are crucial for enabling a more informed and resilient industry.
Source: CyberCube Strikes Collaboration to Enhance CatX’s Cyber Capabilities.