CyberCube launches first exposure databases for re/insurance industry
Cyber risk analytics firm CyberCube has launched detailed Exposure Databases to enable re/insurers and brokers to quantify and better understand cyber catastrophic risk and the potential impacts.
The first release of CyberCube’s Exposure Databases focuses on US standalone cyber insurance and represents the global insurance industry’s exposure and risk to US companies.
These databases aim to provide re/insurers and brokers with more detailed exposure data for the entire US to perform a wide array of benchmarking, sensitivity, and real-time analyses for cyber risks.
The Exposure Databases are designed to work seamlessly with Portfolio Manager, CyberCube’s cyber portfolio modeling solution. They include CyberCube’s Economic Exposure Database (EED) and Industry Exposure Database (IED).
Cody Stumpo, CyberCube’s senior director of product management for Portfolio Manager, said: “Detailed IEDs have been invaluable in natural catastrophe modeling, for benchmarking, creating exposure and risk proxies, and modeling industry risk for Insurance Linked Securities (ILS). Now, the cyber market can benefit from all of those same use cases.”
Jon Laux (pictured), CyberCube’s VP of analytics, added: “We’re excited to make our cyber IED available to the (re)insurance industry. It's an essential step forward for insurers to better understand the segments they are underwriting or could be covering, and for the (re)insurance community, collectively, to have a clearer view of the big picture about what's driving cyber exposures. The release of these exposure databases furthers CyberCube’s objective to enable a common currency for cyber risk transfer discussions.”
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
