Analytics and insurance software firm QOMPLX has revealed the plans to establish a managing general agency (MGA) subsidiary in the US, to be known as RubiQon Risk & Insurance Services (RubiQon Re).
The new subsidiary will leverage the company’s high-capacity data, modelling and analytic capabilities to offer cyber insurance and multi-line treaty and facultative re/insurance.
It will be led by former Validus Re and Hamilton USA CEO Conan Ward and former Validus Holding CROand former of Validus Re chief actuary& CRO, Romel Salam.
The launch is targeted at the large cyber market with multi-line expansion following.
The new subsidiary is expected to offer improved security posture and resilience to clients through assessment tools, internal network analysis, active directory monitoring, risk remediation and security programs.
RubiQon Risk GM and president Conan Ward said: “The unique capabilities of QOMPLX’s decision platform, cybersecurity solutions and professional consulting presented an opportunity to build a world-class infrastructure that merges the best of today’s technological revolutions, cyber expertise and a deeply knowledgeable re/insurance team.
“We’re looking to bring strategic-level solutions and insight to bear for our risk partners, not just tactical product solutions. It is extremely difficult for carriers to innovate, add technology and big data infrastructure, and still keep their factory lights on.”