Reinsurer Howden has expanded its partnership with Cyberwrite, a supplier of cyber danger modelling, throughout 52 nations and 7 languages.
The partnership will improve the power of Howden’s brokers worldwide to evaluate cyber dangers extra “successfully”.
Cyberwrite claims that its superior cyber danger quantification expertise will equip Howden brokers with the instruments to supply purchasers with actionable danger 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 deal with the challenges brokers encounter when promoting cyber insurance policies, corresponding to shopper schooling, coverage optimisation and underwriting effectivity.
By leveraging Cyberwrite’s AI-driven cyber danger studies, powered by its patented 4SEEN expertise, the insurer will achieve deeper insights into cyber danger, enhancing confidence within the underwriting course of.
Cyberwrite CEO and founder Nir Perry mentioned: “Cyber insurance coverage is changing into a vital a part of enterprise resilience, and Howden is main the cost in delivering smarter cyber danger options globally. By equipping Howden brokers with Cyberwrite’s patented AI-driven real-time danger studies, we’re serving to companies worldwide make knowledgeable selections and safe the protection they want towards rising cyber threats.”
In line with Howden’s 2024 cyber report, the insurance coverage market has seen a 15% discount in pricing from its 2022 peak.
Howden cyber international head Shay Simkin acknowledged: “By integrating Cyberwrite’s studies into our cutting-edge Cyber+ system, we’re in a position to supply the best-of-breed cyber danger studies worldwide in actual time to our buyer base and past.
“We’ve got been utilizing Cyberwrite’s expertise since 2019, and increasing this relationship permits us to supply extra context about danger publicity to firms that don’t perceive how weak they’re.”
Moreover, Cyberwrite expanded its danger evaluation capabilities to incorporate disaster modelling, which helps reinsurance brokers in assessing danger and speaking it to purchasers.
Lately, Howden agreed to accumulate Barnett Waddingham, a UK-based consultancy providing insurance coverage, danger, pensions and funding companies.
