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CyberCube appointed Chris Methven as Chief Executive Officer, effective immediately. He succeeds Pascal Millaire, who moved into a Senior Advisor role. The company framed the change as part of its next growth phase following a $180 million financing led by Spectrum Equity. CyberCube sells cyber risk modeling and analytics used by cyber insurers, reinsurers, and brokers to quantify financial cyber risk.
Pascal Millaire said, “I have full confidence that under Chris’s leadership, CyberCube will expand its market leadership position as the pre-eminent provider of cyber risk analytics to the global insurance industry.”
New CEO Brings Commercial And Risk Analytics Experience
Methven joined CyberCube in April 2020 as Chief Growth Officer. In that role, he worked closely with insurance clients and market partners. CyberCube said Methven brings deep knowledge of the firm’s products, culture, and long-term strategy.
Of his new role, Methven said, “I’m honoured to be taking on the role of CEO at such an exciting time for the business. I have spent the last six years working directly with our clients and the wider market. I’m very much looking forward to leading the next phase of the company’s growth and development, building on the strong foundations already in place.”
Before CyberCube, Methven served as Chief Revenue Officer at Achilles, a supply chain risk analytics company. He held global responsibility for sales, marketing, account management, operations, and customer programs.
Board Signals Continuity For Insurance Clients
Scott G. Stephenson, Chair of CyberCube’s board and a former Verisk executive, said the company expects a smooth transition. The board credited Millaire with building CyberCube from inception through rapid growth. Millaire will continue advising the business as it targets broader adoption of financial cyber risk analytics across the insurance industry.
“Having worked closely with Chris for a number of years, I know what a committed, dynamic, and inspirational leader he is. His deep knowledge of the business means this transition will be seamless for both our people and our clients, “ said Stephenson.
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CyberCube’s Market Footprint In Cyber Insurance
CyberCube reported more than 130 clients across the cyber (re)insurance value chain and adjacent sectors. The company said its solutions are used by 75% of the top 40 U.S. and European cyber insurers by gross written premium. It also reported adoption by most of the top 20 global insurance brokers. The succession places Methven in charge as insurers increase scrutiny of aggregation, systemic exposure, and portfolio cyber risk measurement.
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