Insurtech CyberCube taps Swiss Re veteran for board
Cyber risk analytics provider CyberCube has appointed Matthias Weber, the former group chief underwriting officer (CUO) of Swiss Re, to its board of directors.
Weber served as group CUO and member of the group executive committee at Swiss Re from April 2012 to June 2018. He joined Swiss Re in 1992, working across a diverse number of roles and markets including leading property underwriting in the US Direct Business Unit and serving as division head of property & specialty at Swiss Re.
Weber will work alongside Michael Rogers, the former director of the National Security Agency (NSA) and commander of the US Cyber Command, who was also recently appointed to CyberCube's board of directors.
The San Francisco-based startup that has recently partnered with firms like Chubb, Guy Carpenter and JLT Re, said it intends to bring reinsurance expertise to its cyber modelling platform with the addition of Weber.
The CyberCube platform was created within the cyber security company Symantec in 2015 and now operates as a standalone company dedicated to providing analytics to the insurance industry with its software analytics platform.
Pascal Millaire, CEO of CyberCube, said: "We are incredibly fortunate to have such a leading figure in the global insurance and reinsurance industry on our board of directors. Cyber will change the future of the insurance industry and we aim to provide the analytics that helps drive sustainable growth for the insurance and reinsurance industry in this important new risk."
Donald Dixon, an existing board member at CyberCube and managing director at ForgePoint Capital, added: "The insurance industry has a lot to learn from the technology industry and the technology industry also has a lot to learn from insurers. For successful insuretech companies to thrive, they need to bring in seasoned insurance expertise to appreciate the unique dynamics of this complex, highly regulated industry."
Weber commented: "To be able to provide adequate insurance protection, cyber insurance underwriters require cutting-edge forward-looking analytics to understand and assess the risks underlying the policies they write. Having access to exclusive data and the highest-quality experts across multiple disciplines optimally positions CyberCube to become the world's leading cyber insurance modelling company."
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