News Risk Management

At-Bay Selects Guidewire Cyence to Enhance Cyber Portfolio Accumulation Risk Management and Further Propel Market Growth

At-Bay Selects Guidewire Cyence to Enhance Cyber Portfolio Accumulation Risk Management and Further Propel Market Growth

At-Bay, the insurance provider for the digital age, and Guidewire  announced that At-Bay has chosen Guidewire’s cyber risk modeling and analytics product, Cyence, to further bolster its view, and management of, aggregation risk, within its growing cyber insurance portfolio.

Latest Fintech Insights : Goldman Sachs Asset Management and Cleanhill Partners Acquire Majority Stake in EPC Power Corp.

We admire At-Bay’s use of Cyence to expand its modeling capabilities to account for aggregated risk and look forward to infusing data analytics to help At-Bay’s clients meet digital risk.

“Cyber risk aggregation is an important area of risk that every insurer should be actively monitoring and managing within their cyber portfolio. Investing in the right data capabilities, tools, and mechanisms for monitoring and sizing aggregation risk exposure is critical to managing cyber insurance risk in today’s fast changing threat landscape,” said Roman Itskovich, At-Bay’s Chief Risk Officer and Co-Founder.

“With At-Bay’s steadfast focus on proactive risk management, Guidewire’s solution will help us to expand our data capabilities and toolkit for proactive risk management, so that we can continue to deliver great loss results,” Itskovich added.

By combining world-class technology with industry-leading insurance expertise, At-Bay aims to provide the clarity and confidence that businesses need to address digital risk head on. Founded in 2016, At-Bay protects tens of thousands of business customers from today’s ever growing cyber threat landscape. With its in-house data collection capabilities aimed at addressing attritional risk in the selection, pricing, and active risk management of its portfolio, At-Bay will now expand its focus to aggregated risk exposures.

Read More About Fintech News : Modern Treasury and Goldman Sachs Partner to Provide Integrated Software and Payments to Corporate Customers

“We selected Guidewire because it has a strong reputation for being one of the top cyber risk vendors, especially for transparency, in-house data collection, and market validation,” said Yoshifumi Yamamoto, Director of Cyber Risk Modeling, At-Bay. “By applying Cyence’s advanced risk models and detailed aggregated risk scenarios to our own active risk monitoring capabilities and claims experience, we believe that we will be able to further enhance our underwriting and portfolio risk management decisions, and maintain a strong loss performance as our book grows.”

Commenting on the news, Charles Clarke, Group Vice President, Analytics Sales & Advisory, Guidewire, said, “We admire At-Bay’s use of Cyence to expand its modeling capabilities to account for aggregated risk. We are pleased by their vote of confidence in our cyber capabilities and look forward to infusing data analytics to help At-Bay’s clients meet digital risk head-on.

Browse The Complete News About Fintech : Counterpart Launches AI-Powered Crime Coverage For Small Businesses Backed by Aspen Insurance

[To share your insights with us, please write to sghosh@martechseries.com] 

Related posts

Peruvian Banks BBVA, Interbank, and Scotiabank Launch PLIN Using YellowPepper’s Real-Time Payment Platform

Fintech News Desk

Axon Wireless Partners With LoginID to Offer Mobile Operator Agents and Customers the Ability to Register Their Mobile SIM

Fintech News Desk

HSBC Bank Provides $10 Million for New York Forward Loan Fund

Fintech News Desk
1