LONDON – 25th April 2022
Leading cyber risk analytics company CyberCube is to partner with Ultimate Risk Solutions (URS), a provider of actuarial capital modeling to the insurance and reinsurance sectors.
The partnership will see URS integrate CyberCube’s Portfolio Manager model outputs with its Risk Explorer financial analysis software for insurers and reinsurers. Risk Explorer models risk and capital, ceded reinsurance evaluation, stochastic financial reporting and asset portfolio modeling.
In this partnership, Risk Explorer will use CyberCube’s sophisticated models based on specially designed cyber risk scenarios including ransomware attacks, cloud outages and major systemic problems to provide URS’ clients with a more fully realised view of their exposures and capital needs.
Portfolio Manager is used to stress test entire portfolios of cyber risk against a range of modeled threat scenarios. It is a scenario-based data-driven model that enables enterprise risk managers in reinsurance organisations to analyse and communicate key messages on cyber exposures to both their senior leadership and their working teams.
Ross Wirth, CyberCube’s Head of Client Account Management and Technology Services, said: “URS is a market-leading actuarial capital modeler that has provided insurer and reinsurance clients we have in common with extremely sophisticated modeling capabilities. By partnering with the URS team, we are able to add the power of Portfolio Manager to the company’s offering, thus introducing cyber cat modeling and bringing a new dimension to the Risk Explorer platform.”
Madhuri Kumar, URS’s Executive Director, said: “Our clients seek access to cyber modeling capabilities in order to create a complete view of risk in their organisations. CyberCube and Portfolio Manager provide that capability with models recognized by the industry as the currency for quantifying cyber risk.”
CyberCube’s partnership with URS takes effect immediately.
ENDS
About CyberCube
CyberCube delivers the world’s leading analytics to quantify cyber risk for the insurance industry. With best-in-class data access and advanced multi-disciplinary analytics, the company’s cloud-based platform helps insurance organizations make better decisions when 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 and backing from ForgePoint Capital, HSCM Bermuda, MTech Capital and individuals from Stone Point Capital. For more information, please visit www.cybcube.com or email info@cybcube.com.
About URS
Founded in 2001, URS has US offices including its headquarters in New York and other countries including Hong Kong, Italy and the UK. Its clients include insurers, reinsurers, reinsurance brokers and financial regulators.
URS platforms and solutions address a wide range of analytical challenges (re)insurance market faces in risk analytics, including reinsurance evaluation, economic and regulatory capital modelling, catastrophe risk management, asset management, strategic planning, and macroeconomic modeling.
The firm has a rich history of helping clients cut through complexity while strengthening their understanding of risk using innovative analytics to design faster and better solutions.
For more information, please visit www.ultirisk.com.
Contacts:
Yvette Essen, Head of Content & Communications, yvettee@cybcube.com
Sasha Kuznetsov, Marketing & Communications Lead, akuznetsov@ultirisk.com