Insurance technology provider Relay Platform has announced a partnership with cyber risk analytics platform CyberCube.
Relay allows clients to intake, submit and compare quotes digitally. The quotes are then presented in Rely’s Smart Client Proposal, which enables agents and brokers to convert more business. Relay combines API, manual and email quotes while providing analytics to help boost renewal rates.
CyberCube automatically provides information to named insureds to help them understand the impact cybersecurity has on their organization. The company offers individualized assessments of cyber risk, estimated impact from common cyber attacks, and the ability to benchmark insurance limits and deductibles. This information also helps brokers explain what kind of cyber coverage would best suit their clients.
The partnership allows agents and brokers who use Relay to access CyberCube cyber insurance reports directly within the Relay system while obtaining a quote. When a broker or agent selects CyberCube, Relay will also automatically include the CyberCube reports in its Smart Client Proposal. The integration between Relay and CyberCube helps eliminate the need to re-enter information across systems. Brokers and agents will need to be CyberCube CyberConnect clients for the integration to work.
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“The inclusion of CyberCube’s Broking Manager reports in the Relay platform enables brokers and their clients to seamlessly compare their financial exposure to cyber events against the limits that are being proposed,” said Andrew Lukas, CyberCube senior client account manager. “CyberCube is excited to partner with Relay to provide cyber risk clarity to the SME market.”
“With the addition of the CyberCube cyber insurance report, the Relay Smart Client Proposal not only allows the broker or agent to further demonstrate their expertise in cyber insurance, but also creates additional material to assert the importance of cyber insurance and help close more business,” said Edmund Lo, head of product and engineering at Relay.