Reinsurer Howden has expanded its partnership with Cyberwrite, a supplier of cyber danger modelling, throughout 52 international locations 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 know-how will equip Howden brokers with the instruments to offer purchasers with actionable danger insights and benchmark their cyber publicity in opposition to business friends.
This allows companies of all sizes to higher 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 consumer schooling, coverage optimisation and underwriting effectivity.
By leveraging Cyberwrite’s AI-driven cyber danger experiences, powered by its patented 4SEEN know-how, the insurer will acquire deeper insights into cyber danger, bettering confidence within the underwriting course of.
Cyberwrite CEO and founder Nir Perry stated: “Cyber insurance coverage is changing into an important 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 experiences, we’re serving to companies worldwide make knowledgeable selections and safe the protection they want in opposition to rising cyber threats.”
In response to 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 acknowledged: “By integrating Cyberwrite’s experiences into our cutting-edge Cyber+ system, we’re capable of provide the best-of-breed cyber danger experiences worldwide in actual time to our buyer base and past.
“We’ve got been utilizing Cyberwrite’s know-how since 2019, and increasing this relationship permits us to offer 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.
Not too long ago, Howden agreed to amass Barnett Waddingham, a UK-based consultancy providing insurance coverage, danger, pensions and funding companies.
