United Insurance Brokers (UIB), a Lloyd’s broker operating internationally, has teamed up with cyber risk analytics provider CyberCube to support its global cyber insurance operations.
Under this agreement, UIB will utilise CyberCube’s Broking Manager and Prep Module.
The broker indicated that it chose CyberCube’s solutions for their risk quantification capabilities, which offer a data-driven approach to assessing cyber exposures.
UIB expects these tools to assist in conveying risks to insurers and refining placement methods across its network.
UIB cyber head Dimaggio Rigby said: “The cyber landscape is evolving at pace, and clients increasingly expect brokers to provide clear, quantitative insights. With CyberCube’s platform, we can enhance the sophistication of our analytics, improve the clarity of our engagement with carriers and support clients more effectively as cyber continues to grow globally.”
The addition of the Prep Module is intended to assist in preparing submissions and presenting risk information in the cyber sector, where competition continues to intensify.
UIB is targeting further expansion, particularly in Latin America and Asia.
CyberCube Broker Sales & Account Management head Nate Brink said: “UIB is a leader in managing complex risks, and we are thrilled to support its global expansion. By leveraging CyberCube’s bespoke solutions, UIB can now bridge the data gap in rapidly evolving markets across LATAM [Latin America], Europe and Asia, providing the sophisticated, localised cyber guidance their clients require.”
In December, DUAL Group collaborated with CyberCube, leveraging the latter’s analytics to gain actionable intelligence for both day-to-day underwriting and catastrophe modelling.
“UIB adopts CyberCube tools for cyber risk assessment” was originally created and published by Life Insurance International, a GlobalData owned brand.
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