August 7, 2023: Ariel Re, a premier global reinsurance business with offices in Bermuda, London and Hong Kong, is expanding its partnership with cyber risk analytics leader CyberCube by licensing its Industry Exposure Databases and Portfolio Manager APIs.
Ariel Re already licenses Portfolio Manager from CyberCube. Portfolio Manager is the (re)insurance industry’s cyber risk modeling platform of choice, allowing stress testing of portfolios against a range of systemic cyber-related scenarios including data breaches, cloud outages, and global ransomware attacks among others.
CyberCube’s Industry Exposure Databases were launched in October 2022 to enable (re)insurers and brokers to perform a wide array of benchmarking, sensitivity, and real-time analyses for cyber risks. They provide a foundation for cyber risk models and include CyberCube’s Economic Exposure Database (EED) and Industry Exposure Database (IED). The databases are designed to work seamlessly with Portfolio Manager, the industry’s leading cyber portfolio modeling solution. With both, clients can view each Exposure Database and run analyses to develop industry loss estimates.
Portfolio Manager analytics are also available via CyberCube’s CyberConnect API offering to support integration and automation of workflows into client systems.
Simon Shreeve, CyberCube Principal Client Account Manager, said: “We are thrilled to expand our partnership with the Ariel Re team to enhance the analytics within its decision-making process. Ariel Re is operating with a granular and sophisticated view of risk, taking into account multiple data sources, in-house expertise and new comparative analytics to enable better risk selection and pricing to support its cyber reinsurance growth plans. We are excited to help Ariel drive innovation in the cyber reinsurance industry.”
Daniel Carr, Head of Cyber at Ariel Re, said: “As we increasingly embed and expand our analytics capabilities in support of our reinsurance offerings, adding these tools to our partnership with CyberCube allows us to further sensitivity test, benchmark and stress test our deals and wider portfolio more easily. This enables us to communicate more effectively with all stakeholders, helping us to support our customers with tailored risk transfer solutions and continue to grow and innovate within the market with confidence. CyberCube is providing us with solutions that will further our vision of being the premier manager of reinsurance risk.”
ENDS
About CyberCube
CyberCube delivers the world’s leading cyber risk analytics for the insurance industry. With best-in-class data access and advanced multi-disciplinary analytics, the company’s cloud-based platform helps insurance organizations quantify cyber risk to facilitate placing insurance, underwriting cyber risk and managing cyber risk aggregation. CyberCube’s enterprise intelligence layer provides insights on millions of companies globally and includes modeling on thousands of points of technology failure.
The CyberCube platform was established in 2015 within Symantec and now operates as a standalone company exclusively focused on the insurance industry, with access to an unparalleled ecosystem of data partners. It is backed by Morgan Stanley Tactical Value, Forgepoint Capital, HSCM Bermuda, MTech Capital, individuals from Stone Point Capital and Scott G. Stephenson. For more information, please visit www.cybcube.com or email info@cybcube.com.
About Ariel Re
Ariel Re offers innovative insurance and reinsurance solutions and services through our offices in Bermuda, London, and Hong Kong, meeting the business needs of a diverse client base. Ariel Re operates principally through Syndicate 1910 in London and also offers access to Lloyd’s Europe via Syndicate 5336.
Originally founded in 2005, Ariel Re was acquired by Pelican Ventures and J.C. Flowers in November 2020. The new owners provide Ariel Re with significant capital resources and a long track record of supporting successful, entrepreneurial businesses in the (re)insurance industry.
For press queries contact:
Yvette Essen, Head of Content, Communications & Creative, yvettee@cybcube.com
Ariel Re:
Stephen.breen@rein4ce.co.uk