Mapfre Re partners with insurtech Kovrr to manage cyber risk exposure

Mapfre Re, the reinsurance unit of  Mapfre Group, has partnered with Israeli cyber risk modelling specialist  Kovrr to expand its ability to assess accumulated cyber risk exposure, as well as enhance its cyber underwriting and pricing capabilities.

Kovrr enables insurers and reinsurers to financially quantify and manage cyber risk by using artificial intelligence-powered cyber risk models. The start-up's technology is based on monitoring global incidents in real time.

“We are excited to expand our partnership with Kovrr and begin using the newest features in their Portfolio Exposure Management solution,” said Oscar Taboada, head of cyber at Mapfre Re.

Kovrr has recently updated its event catalog, based on research arising from new proprietary data sources to reflect changes in the cyber threat landscape, including an improved view of emerging risks, threat actors, attack methods, and ransomware and malware campaigns. Additionally, the catalog includes a wider range of service provider events, considering important business criticality factors.

Taboada added: “Based on robust event catalog data and industry leading usability, their intuitive and transparent platform allows us to better understand and manage cyber risk to improve our decision making, helping us manage our accumulated cyber risk exposure as well as underwriting tasks.”

Shalom Bublil, chief product officer and co-founder of Kovrr, commented: “We are pleased to introduce robust new features and capabilities for our model and platform, which will make it even easier for our customers to understand, financially quantify and manage cyber risk in their portfolios and provide the most accurate information for pricing.”

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