Reinsurer Howden has expanded its partnership with Cyberwrite, a supplier of cyber threat modelling, throughout 52 nations and 7 languages.
The partnership will improve the flexibility of Howden’s brokers worldwide to evaluate cyber dangers extra “successfully”.
Cyberwrite claims that its superior cyber threat quantification expertise will equip Howden brokers with the instruments to offer purchasers with actionable threat insights and benchmark their cyber publicity towards business friends.
This allows companies of all sizes to raised perceive their cyber dangers and optimise their insurance coverage protection, the corporate added.
The collaboration goals to sort out the challenges brokers encounter when promoting cyber insurance policies, comparable to shopper schooling, coverage optimisation and underwriting effectivity.
By leveraging Cyberwrite’s AI-driven cyber threat reviews, powered by its patented 4SEEN expertise, the insurer will acquire deeper insights into cyber threat, enhancing confidence within the underwriting course of.
Cyberwrite CEO and founder Nir Perry mentioned: “Cyber insurance coverage is turning into a vital a part of enterprise resilience, and Howden is main the cost in delivering smarter cyber threat options globally. By equipping Howden brokers with Cyberwrite’s patented AI-driven real-time threat reviews, we’re serving to companies worldwide make knowledgeable choices and safe the protection they want towards rising cyber threats.”
In keeping with Howden’s 2024 cyber report, the insurance coverage market has seen a 15% discount in pricing from its 2022 peak.
Howden cyber world head Shay Simkin said: “By integrating Cyberwrite’s reviews into our cutting-edge Cyber+ system, we’re in a position to provide the best-of-breed cyber threat reviews worldwide in actual time to our buyer base and past.
“We’ve been utilizing Cyberwrite’s expertise since 2019, and increasing this relationship permits us to offer extra context about threat publicity to firms that don’t perceive how weak they’re.”
Moreover, Cyberwrite expanded its threat evaluation capabilities to incorporate disaster modelling, which helps reinsurance brokers in assessing threat and speaking it to purchasers.
Not too long ago, Howden agreed to amass Barnett Waddingham, a UK-based consultancy providing insurance coverage, threat, pensions and funding providers.
