Reinsurer Howden has expanded its partnership with Cyberwrite, a supplier of cyber threat 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 threat quantification know-how will equip Howden brokers with the instruments to supply purchasers with actionable threat insights and benchmark their cyber publicity in opposition to 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 sort out the challenges brokers encounter when promoting cyber insurance policies, reminiscent of shopper training, coverage optimisation and underwriting effectivity.
By leveraging Cyberwrite’s AI-driven cyber threat stories, powered by its patented 4SEEN know-how, the insurer will achieve deeper insights into cyber threat, bettering confidence within the underwriting course of.
Cyberwrite CEO and founder Nir Perry stated: “Cyber insurance coverage is turning into an important a part of enterprise resilience, and Howden is main the cost in delivering smarter cyber threat options globally. By equipping Howden brokers with Cyberwrite’s patented AI-driven real-time threat stories, we’re serving to companies worldwide make knowledgeable selections and safe the protection they want in opposition to rising cyber threats.”
Based on 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 said: “By integrating Cyberwrite’s stories into our cutting-edge Cyber+ system, we’re in a position to supply the best-of-breed cyber threat stories worldwide in actual time to our buyer base and past.
“We have now been utilizing Cyberwrite’s know-how since 2019, and increasing this relationship permits us to supply extra context about threat publicity to firms that don’t perceive how susceptible they’re.”
Moreover, Cyberwrite expanded its threat evaluation capabilities to incorporate disaster modelling, which helps reinsurance brokers in assessing threat and speaking it to purchasers.
Just lately, Howden agreed to accumulate Barnett Waddingham, a UK-based consultancy providing insurance coverage, threat, pensions and funding providers.
