Cyber risk analytics firm Cyberwrite and global insurance broker Howden have expanded their partnership to deliver cyber risk insights. The partnership is now active in 52 countries and also available in seven languages. The press release announcing the news notes the expansion allows Howden brokers to offer actionable insights into cyber threats, helping businesses better manage their cyber insurance needs.
AI-Driven Cyber Risk Analytics
Cyberwrite’s technology allows Howden brokers to quantify cyber risks using AI-driven tools. Brokers can now offer clients actionable insights and industry benchmarking. This technology helps businesses optimize cyber insurance coverage and understand exposure levels.
Cyberwrite CEO Nir Perry emphasized the importance of cyber insurance analytics, stating, “Cyber insurance is becoming an essential part of business resilience. By equipping Howden brokers with Cyberwrite’s patented AI-driven real-time risk reports, we’re helping businesses worldwide make informed decisions.”
Improved Cyber Insurance Market Confidence
According to Howden’s 2024 report, cyber insurance prices dropped 15% since their peak in 2022. As they see it, insurers are more willing to offer increased coverage limits and remove ransomware-related restrictions. This shift reflects increased confidence among insurers, supported by Cyberwrite’s patented 4SEEN® technology.
Enhanced Client Understanding
Shay Simkin, Howden’s Global Head of Cyber, noted, “By integrating Cyberwrite’s reports into our cutting-edge Cyber+ system, we are able to offer the best-of-breed cyber risk reports worldwide in real time. Expanding this relationship allows us to provide more context about risk exposure to companies that don’t understand how vulnerable they are.”
In addition to this cyber risk analytics move, Cyberwrite also recently enhanced its offerings to include cyber catastrophe modeling. This new capability supports reinsurance brokers in accurately assessing and communicating portfolio risks.
Put Simply:
This expanded partnership between Cyberwrite and Howden is like giving weather forecasts to pilots. Just as pilots need accurate forecasts to avoid storms, businesses need precise cyber-risk reports to steer clear of cyber threats. Cyberwrite provides these digital forecasts, allowing companies to navigate safely through increasingly dangerous online skies.