Cyber risk analytics firm CyberCube has unveiled a new software-as-a-service application that will help insurance brokers gauge the impact of cyber risk exposure.
Dubbed Broking Manager, the new offering will enable brokers to quantify, understand, and explain to their clients cyber risk exposure’s sources as well as financial impact.
The product enables brokers to generate a cyber financial loss report on millions of companies instantly.
At the same time, it offers data to enable brokers to gauge the cyber exposure of clients.
To do this, the product takes the help of advanced models that utilises data from multiple sources.
These sources are behind the firewall and perimeter scan data, historical incidents and losses, and firmographic data.
The product also enables brokers to alert clients on potential loss classes, recent cyber events, along with benchmarking of cyber risks against peers.
CyberCube director of Product Oren Schetrit said: “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.
“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.”