CyberCube, a cyber risk analytics platform, has launched on Monday a new software-as-a-service application targeted to the insurance brokers.
Dubbed Broking Manager, the solution has been built to notify brokers of the various cyber risks and will provide client insight for both generalist and cyber specialist brokers.
“With Broking Manager we set out to tackle the most fundamental question facing brokers today; what coverages and limits do companies need? We’ve had considerable interest from the broking community internationally, so we felt the time was right to build and launch this product,” Oren Schetrit, CyberCube’s director of product, said.
Utilizing data for prediction
Broking Manager will allow brokers to instantly produce a cyber financial loss report on millions of companies while providing rich information to help brokers articulate their clients’ cyber exposure.
According to the company, brokers can leverage the product to inform clients on potential loss classes, recent cyber events, and benchmarking of cyber risks against peers.
“Brokers play a vital role in helping clients identify and manage risk. Our goal is to empower them to quantify and explain cyber risk exposure to a broad audience without becoming experts in information security. Broking Manager will promote informed conversations that will ultimately lead to better buying decisions,” Schetrit added.
Alongside the new product, CyberCube also has two more offerings in its portfolio – Portfolio Manager and Account Manager.
“Cyber insurance as a line of business is still in its early stages of growth and there is a clear need for a solution to help companies make informed decisions on what they need to buy. As trusted advisors to companies on their cyber insurance purchase, insurance brokers play a very important role in the ecosystem by connecting insurance buyers with carriers,” Ashwin Kashyap, co-founder and head of product and analytics at the company, added.