Cyber risk analytics specialist CyberCube has launched “Broking Manager” – a new software-as-a-service application designed specifically for insurance brokers.
Market-leading cyber analytics specialist CyberCube launches its first product dedicated to the global insurance broker market.
“Broking Manager” facilitates quick and efficient client insight for both generalist and cyber specialist brokers. The product is built to help brokers quantify, understand, and explain to their clients, the sources and financial impact of cyber risk exposure.
This development recognizes that insurance advisors need to be able to educate prospects and clients while demonstrating an understanding of their needs and exposures. Brokers are expected to align clients’ goals, budgets, and exposure to the appropriate limits and best-fit carrier policies. With cyber risk, this means understanding the types of scenarios that may cause financial loss and the costs that would drive losses. Knowing where a client can increase or cut back on premium dollars while still hitting their coverage goals is imperative to helping them optimize their budget.
Broking Manager empowers brokers to instantly produce a cyber financial loss report on millions of companies, while providing rich information to help brokers articulate their clients’ cyber exposure. It does so by leveraging advanced models that draw on data from a large number of sources including behind the firewall and perimeter scan data, historical incidents and losses, and firmographic data. The product offers a stream-lined approach to generating the financial exposure impact of client-specific security and business practices. Brokers can also leverage the product to educate clients on potential loss classes, recent cyber events, and benchmarking of cyber risks against peers.
Oren Schetrit, CyberCube’s Director of Product, said: “With Broking Manager we set out to tackle the most fundamental question facing brokers today; what coverages and limits do companies need? We’ve had considerable interest from the broking community internationally, so we felt the time was right to build and launch this product.
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