Transcript
Nate Brink: Hi, I'm Nate Brink, Head of Broker Partnerships at CyberCube. And joining me today is Natalie Chin, Head of Broking Analytics at CyberCube.
Today, we're really excited to share some more information on our newest release, Regional Risk Transfer Benchmarking. So Natalie, let's just start off by understanding what is risk transfer benchmarking and why is it important?
Natalie Chin: Yeah, risk transfer benchmarking is actually one of our kind of more proprietary, kind of unique view into peer benchmarking. We don't want to just focus on, you know, average limits or something about how much one other company might buy, because each company buys different cyber insurance limits based on their budgets and based on their unique risk exposure.
So we want to normalize that conversation so it's more easily comparable. So that's what our risk transfer benchmarking is. It's a unique view into peer benchmarking so that you can compare yourself to your peer group and say, how much should I buy based on what they're doing?
Nate Brink: And today at CyberCube, we're supporting over 70 different brokerages in over 40 different countries across the world. This newest release, Regional Risk Transfer Benchmarking. Tell us a little bit more about it, and how is that going to help brokers selling cyber insurance across the world?
Natalie Chin: Yeah, so we've heard a lot about having a more granular view into their local markets and their regions. You know, what we offer right now for our regular risk transfer benchmarking is a global metric, but we understand that in order to sell more into local markets, brokers need to be equipped with more localized data, more fine-tuned for that risk threat landscape, basically.
So what we did was took a look at our own global limits data set, which we have plenty of, and started extracting that and slicing and dicing it in ways so that it's going to be more usable for brokers in any region around the world.
If you're trying to sell cyber insurance in, you know, one continent versus another, you have a different view of risk, and you can still compare it back to a global metric if that's the type of risk profile your client actually has. That kind of gives you a lot more customization, and so it's going to really help a lot of regional brokers to grow their business in their local market.
Nate Brink: You mentioned local markets. Could you tell us a little bit about some of those markets or regions in which brokers will be able to tailor the data for those conversations?
Natalie Chin: Yeah, for this initial release, we've kind of focused on our kind of four key regions that we do with our financial loss modeling as well. So we have APAC, EMEA, LATAM, and North America.
And so what we'll end up doing in the next kind of several months, even after this release, is let's cut it even further down to the country level in a lot of big growing markets. So more specific areas like Germany or France or Canada, we definitely have enough data to start highlighting those specific country-level risk profiles.
So that's really exciting to really localize a lot of that context for the brokers and be able to confidently tell their clients, this is about your peer groups right next door to you, basically.
Nate Brink: Excellent. Well, Natalie, thank you so much for highlighting this new exciting release as we look to expand Broking Manager globally across the world.
Natalie Chin: Yeah. No, thank you for this, Nate.