Lockton Re, the reinsurance segment of independent broking giant Lockton, will implement CyberCube’s Portfolio Manager product. The news comes after Lockton rolled out CyberCube’s Broking Manager analytics tool last year.
Portfolio Manager will allow Lockton Re to advise its clients on their portfolio exposures for extreme events and how that could inform their reinsurance purchasing options. The tool allows risk professionals to stress test portfolios of insurance risk so that loss drivers and areas of accumulation risk can be identified.
“We are thrilled that Lockton Re has chosen to use another of our products,” said Pascal Millaire, CEO of CyberCube. “This deepens our relationship with the whole of Lockton and will give Lockton’s teams and management a more holistic view of the impact of cyber risk on their clients and their business as a whole.”
“The insurance side of Lockton has been using Broking Manager since last year and has benefited considerably from the insights it offers,” said Adam Braithwaite, senior reinsurance actuary at Lockton Re. “For Lockton Re, Portfolio Manager will integrate with Lockton Re’s SAGE, our proprietary reinsurance analytics platform, to provide our clients with even greater analytical insights and advice for their cyber portfolios.”