Reinsurer Howden has expanded its partnership with Cyberwrite, a supplier of cyber danger modelling, throughout 52 nations and 7 languages.
The partnership will improve the flexibility of Howden’s brokers worldwide to evaluate cyber dangers extra “successfully”.
Cyberwrite claims that its superior cyber danger quantification expertise will equip Howden brokers with the instruments to supply shoppers with actionable danger insights and benchmark their cyber publicity towards trade friends.
This permits companies of all sizes to higher perceive their cyber dangers and optimise their insurance coverage protection, the corporate added.
The collaboration goals to sort out the challenges brokers encounter when promoting cyber insurance policies, reminiscent of shopper training, coverage optimisation and underwriting effectivity.
By leveraging Cyberwrite’s AI-driven cyber danger stories, powered by its patented 4SEEN expertise, the insurer will achieve deeper insights into cyber danger, bettering confidence within the underwriting course of.
Cyberwrite CEO and founder Nir Perry mentioned: “Cyber insurance coverage is turning into a necessary a part of enterprise resilience, and Howden is main the cost in delivering smarter cyber danger options globally. By equipping Howden brokers with Cyberwrite’s patented AI-driven real-time danger stories, we’re serving to companies worldwide make knowledgeable choices and safe the protection they want towards rising cyber threats.”
In response to Howden’s 2024 cyber report, the insurance coverage market has seen a 15% discount in pricing from its 2022 peak.
Howden cyber world head Shay Simkin acknowledged: “By integrating Cyberwrite’s stories into our cutting-edge Cyber+ system, we’re capable of provide the best-of-breed cyber danger stories worldwide in actual time to our buyer base and past.
“We’ve been utilizing Cyberwrite’s expertise since 2019, and increasing this relationship permits us to supply extra context about danger publicity to firms that don’t perceive how weak they’re.”
Moreover, Cyberwrite expanded its danger evaluation capabilities to incorporate disaster modelling, which helps reinsurance brokers in assessing danger and speaking it to shoppers.
Not too long ago, Howden agreed to amass Barnett Waddingham, a UK-based consultancy providing insurance coverage, danger, pensions and funding providers.
