Cyber risk analytics provider CyberCube has launched Version 3 of Account Manager, its software-as-a-service application for underwriters.
The new version of Account Manager addresses many of the growing issues in today’s market, CyberCube said. Over the past two years, losses have been rising due to the growing threat of ransomware, business email compromise, phishing and other cyber threats. The new version of Account Manager provides an array of new risk indicators, including ransomware-specific insights. It also offers a financial loss model that helps underwriters make more informed pricing decisions through an objective analysis of a company’s loss potential.
All insights in Account Manager are derived from a pool of millions of firmographic, technographic, and cybersecurity data points, which are curated and transformed into statistically significant risk indicators of cyber incidents.
“We recognise that timely and relevant insights are imperative to the success of a cyber underwriting practice,” said Judy Chow, director of product at CyberCube. “To win, underwriters need information that they can understand and act upon. Our investments in Account Manager Version 3 were laser-focused on the areas that matter most to underwriters – ransomware-specific indicators, actionable insights, and loss quantification. Making these insights available in one place through our application and flexibly through APIs ensures that we’re empowering our clients to easily customise their strategies.”
“In a hardening cyber insurance market, Account Manager helps underwriters generate alpha by helping select and price risks appropriately through targeted risk-specific insights,” said Ashwin Kashyap (pictured above), co-founder and chief product officer of CyberCube. “CyberCube’s experts have curated risk factors, such as evidence of infrastructure abuse, that can help boost underwriting performance significantly. In addition, we have connected these risk factors to loss, enabling market participants to price risks adequately and achieve sustainable growth.”