CyberCube’s Portfolio Manager model utilized for first cyber cat bond

 11 January 2022, LONDON —  CyberCube, the market leader in cyber risk analytics, has acted as a modeling agent for the first private cyber cat bond to bring additional reinsurance capacity to the market. 

CyberCube’s Portfolio Manager was utilized as part of the creation of a $45m Insurance-Linked Securities (ILS) transaction by Beazley. Portfolio Manager is a scenario-based data-driven model that 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 deal was structured and launched by Gallagher Securities, with the project driven by Gallagher Re’s Cyber division.

 Juan Marcano, Principal - Cyber Alternative Risk Transfer, commented: “CyberCube is delighted that Portfolio Manager has been chosen as one of the analytical models informing this exciting transaction. We are committed to continuing to develop innovative solutions to help support the cyber insurance industry moving forward.” 

CyberCube recently published a report forecasting the insurance market will see greater partnerships with ILS fund managers in 2023. The research “Cyber Predictions 2023” noted demand for cyber insurance has generally outstripped the supply the insurance industry has the capacity or appetite to support. It stated the ILS cyber market is likely to see real traction in 2023 due to more sophisticated modeling, the development of industry exposure databases and an increased understanding of cyber risk across the necessary stakeholders.

 

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.

Media:

 Yvette Essen, Head of Content, Communications and Creative, yvettee@cybcube.com

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