Cyber risk analytics provider Cyberwrite has deepened its collaboration with Markel Insurance to enhance cyber underwriting, broker enablement, and risk modelling capabilities across European markets.
Markel Europe has already been leveraging Cyberwrite’s AI technology to support its underwriters in modelling exposures and delivering insight to brokers and clients. This integration enables the insurer to analyse cyber risks and model potential exposures in seconds, helping to drive down loss ratios and enabling more informed, data-driven decisions. The solution also facilitates advanced catastrophe modelling for cyber events.
Cyberwrite CEO and founder Nir Perry said, “Cyberwrite is proud to be a Markel technology provider. Markel has established itself as a forward-thinking specialty insurer that prioritizes data-driven underwriting precision.
“This expanded partnership demonstrates how our patented AI-driven cyber insurance underwriting technology specifically addresses the gaps that have historically complicated cyber insurance underwriting and modeling. Together, we’re enabling both underwriters and brokers to quantify the economic impact and probability of a cyber claim with unprecedented granularity and enable lower loss ratios by identifying high-risk businesses before they suffer a breach.”
Cyberwrite’s patented technology uses quantitative AI to turn complex technical risk data into business-ready insights. This enables insurance professionals to articulate the likelihood and financial implications of a cyber incident with clarity. The platform also benchmarks risk profiles against industry peers and feeds into its catastrophe modelling solution.
The need for better cyber risk modelling has become increasingly urgent as insurers contend with fragmented datasets and a constantly shifting threat landscape. Cyberwrite addresses these issues with real-time data collection capabilities that span over 99.97% of global businesses. Its risk reports are accessible in eight languages, offering underwriters and brokers localised insights at the point of underwriting.
Markel Europe CEO Frederik Wulff said, “Cyberwrite’s platform has transformed how we evaluate cyber risk across diverse markets and industries for small and mid-size businesses.
“Our underwriters can now quantify factors that were previously difficult to measure in real-time for any business in local language, enabling brokers to easily explain cyber risks, and giving clients a clearer picture of their specific cyber risks so they know how much cyber coverage to buy, and how to reduce the risk of a breach. The approach of collecting data on each risk and quantifying it enables ground-up catastrophe modeling abilities that translate into improved model certainty.”
Cyberwrite was established in 2017 by cybersecurity and insurance veterans and has since become a trusted provider to insurers, reinsurers and brokers worldwide. Its 4SEEN® platform supports real-time risk analysis of hundreds of millions of companies, streamlining cyber insurance distribution and improving underwriting efficiency.
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