CyberCube unveils revamped modelling platform

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Cyber analytics provider CyberCube has released an updated version of Account Manager, its cyber risk modelling platform for insurers and reinsurers. Account Manager allows underwriters to better assess the cyber risk profile of individual risks on which they are being asked to quote.

The update includes a revamp of Account Manager’s scoring methodology and the addition of a broader collection of threat information to reflect the growth of cyber threats since the programme’s initial launch.

“Unlike context-free security scores which leave the interpretation to the user, CyberCube’s scoring methodology evaluates risks through the lens of security and exposure from an insurance perspective,” the company said. “Underwriters can define their risk tolerance and use these scores to standardise and automate the underwriting process across the organisation.”

“It’s important to update Account Manager because cyber is such a dynamic peril, so we need to reflect the most up-to-date landscape we can,” said Morgan Hervé-Mignucci, director of cyber risk modelling at CyberCube. “We have sourced and curated signals related to the digital supply chain, web-traffic hygiene and common software vulnerabilities as a part of the new edition of the product. We have also revised our scoring algorithms to include new risk factors to help underwriters select, differentiate, and price risk in a robust fashion.”

“The insurance industry is turning towards alternative data to make better decisions on risk selection and pricing,” said Ashwin Kashyap, co-founder of CyberCube and head of product and analytics. “Given the competitive nature of the cyber insurance market that is increasingly moving toward zero-question underwriting for small business, CyberCube’s platform provides an edge through access to information on millions of companies at scale to implement a data-driven underwriting process.”

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