AkinovA partners with CyberCube to expand access to cyber risk analysis
AkinovA, the independent electronic marketplace for the transfer and trading of re/insurance risk, has partnered with cyber risks analytics provider CyberCube.
The partnership will see CyberCube’s products made available to AkinovA’s platform, enabling the entire value chain of the risk transfer sector to gain access to advanced models and analytics.
CyberCube’s models are based on specially designed cyber risk scenarios including ransomware attacks, cloud outages and major systemic risks to support the insurance, reinsurance and insurance-linked securities (ILS) organisations to make better decisions when placing and managing cyber risk.
Juan Marcano (pictured left), alternative risk transfer principal at CyberCube, said: “As a trusted facilitator to the risk transfer sector and a powerful advocate for the benefits of new technology, AkinovA is an ideal partner for us at CyberCube. This is a real vote of confidence in CyberCube’s products and the insights they generate.
“Our products provide businesses with the knowledge they need to make empowered choices about cyber risk. By combining our knowledge of the cyber ecosystem and our modeling capabilities, we’re able to model various cyber scenarios that can be used to stress test portfolios – or even individual risks. The information gained from these exercises is vital in pricing and effectively managing a portfolio of cyber risk.”
Henri Winand (pictured right), AkinovA CEO, commented: “In 2020, AkinovA pioneered first-of-a-kind Cloud outage and cyber-induced electricity power generation downtime risk transfers together with AkinovA ecosystem partners, including a leading broker and underwriting capital. One of the challenges was to quantify the risk itself. This partnership with CyberCube represents a significant milestone in our objective to bring new risks and capital to the risk transfer market. By joining forces with CyberCube, we bring access to the tools needed by insureds, brokers and capital providers to properly understand and evaluate one of the fastest-growing segments in the risk transfer space.”
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
