Chubb, the world’s largest publicly traded property-casualty insurance company, has signed an agreement with CyberCube to use the cyber risk analytics company’s analytics to supplement its ability to better quantify and understand systemic risks across its cyber portfolio.
“Cyber is one of the most complex risks facing insurers in the 21st century,” said Pascal Millaire, CEO of CyberCube. “Data-driven tools can be extremely valuable when it comes to managing cyber aggregation. We are pleased to support Chubb, a recognised leader in the cyber insurance space, by providing them with additional insights into the systematic risks and other cyber-related exposures within their cyber portfolio.”
CyberCube’s analytics capabilities allow insurance companies to make more informed and effective decisions when underwriting cyber risk and managing cyber risk aggregation, the company said in a release. CyberCube provides data on millions of companies across the world, including modelling on more than 1,000 single points of technology failure.