Global P&C insurance group Tokio Marine has partnered with cyber analytics specialist CyberCube. Under the partnership, Tokio Marine has gained access to a suite of CyberCube products including Account Manager, Portfolio Manager and a range of other cyber modelling products. The agreement constitutes CyberCube’s most comprehensive deal to date with an Asia-headquartered insurance company.
Tokio Marine Group writes cyber insurance worldwide through its group companies: TMNF in Japan, TMHCC in the US, Europe and Asia, SNCC and PHLY in the US, and TMK in the Lloyd’s market in London.
“This is a significant partnership for CyberCube,” said Pascal Millaire, CEO of CyberCube. “Tokio Marine has purchased broad access to CyberCube’s suite of carrier-based applications, complemented by new CyberCube services. By combining these offerings, Tokio Marine’s team will gain valuable insights into their cyber book and its vulnerabilities to an ever-increasing range of threats. We aspire to be the most comprehensive cyber analytics partner to insurers, and this partnership highlights the unparalleled strength of our end-to-end products and services.”
“Tokio Marine Group offers a comprehensive range of cyber insurance risk transfer and risk prevention solutions to businesses of all sizes and in all geographies. Analytics is, of course, a very important part of managing these risks,” said Daljitt Barn, global head of cyber risk and head of Tokio Marine Innovation Lab. “We look forward to working with CyberCube to enhance our overall risk management of the cyber line of business, as well as offer our underwriters tools and analytics to help with risk selection.
“This partnership between Tokio Marine and CyberCube will help move the cyber insurance industry as a whole forward, highlighting the need to adopt a multi-model approach to cyber accumulation to enhance understanding and demonstrate maturity around the management of cyber risks.”