Lockton Re invests in CyberCube’s cyber risk management tool
Lockton Re, the reinsurance arm of broker Lockton, has invested in CyberCube’s cyber risk modeling platform, called Portfolio Manager, a scenario-based data-driven model designed to enhance enterprise risk management.
Portfolio Manager will allow Lockton Re to advise its clients how their portfolio exposures look for extreme events and how that might inform their reinsurance purchasing options.
The model enables risk professionals to develop insights for their senior leadership and teams. It also allows stress testing of portfolios of insurance risk so that loss drivers and areas of accumulation risk can be identified.
“The insurance side of Lockton has been using Broking Manager since last year and has benefited considerably from the insights it offers. For Lockton Re Portfolio Manager will integrate with Lockton Re's SAGE, our proprietary reinsurance analytics platform, to provide our clients with even greater analytical insights and advice for their cyber portfolios,” said Adam Braithwaite, senior reinsurance actuary of Lockton Re.
Pascal Millaire, CyberCube CEO, said: “We’re thrilled that Lockton Re has chosen to use another of our products. This deepens our relationship with the whole of Lockton and will give Lockton’s teams and management a more holistic view of the impact of cyber risk on their clients and their business as a whole.”
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