In a strategic move, Millennial Shift Technologies Inc. (mShift) has partnered with CyberCube, a prominent cyber risk analytics platform. The collaboration aims to enhance cyber risk transparency within the small to medium enterprise (SME) insurance market.
mShift’s digital platform facilitates quick quoting, binding, and issuance of multiple lines of business in the SME cyber liability space. By integrating CyberCube’s Broking Manager reports into the mShift platform, brokers and clients can compare financial exposure to cyber events against proposed limits.
This collaboration seeks to streamline workflows for insurance producers, providing an integrated solution that eliminates redundant data entry. The integration ensures that all cyber proposals include CyberCube reports, enhancing the overall client experience.
The partnership leverages CyberCube’s Broking Manager software, utilizing specialized analytics to offer targeted information on a client’s cyber risk profile. This includes discussions around company-specific financial exposure and risk transfer benchmarking data. This assists insurance buyers in making informed decisions about limits and coverage.
“Transparency”
Ross Wirth, Head of Client Engagement and Technology Partnerships at CyberCube emphasizes the seamless comparison of financial exposure within the mShift platform. According to Wirth, this collaboration will bring cyber risk transparency to the SME insurance market.
“By integrating CyberCube’s Broking Manager reports within the mShift platform, brokers and their clients can effortlessly compare their financial exposure to cyber events against proposed limits. This partnership will provide cyber risk transparency to the SME insurance market,” said Wirth.
Mark Meury, Founder and CEO of mShift, notes that incorporating CyberCube’s reports and analytics will empower insurance professionals to showcase their expertise in cyber insurance.
Meury said, “By including CyberCube’s reports and analytics, we can enable insurance professionals to demonstrate their expertise in cyber insurance and facilitate increased adoption of cyber insurance across SME insurance buyers.”
CyberCube, established in 2015 within Symantec and now operating independently, delivers cyber risk analytics for the insurance industry. Its cloud-based platform aids insurance organizations in quantifying cyber risk, underwriting cyber risk, and managing cyber risk aggregation.
Source: mShift Partners Up With CyberCube to Automate the Delivery of Cyber Insurance Analytics
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