CyberCube, a leading provider of cyber risk analytics for the (re)insurance industry and a ForgePoint Capitalportfolio company, today announced that Munich Re has selected its cyber insurance analytics platform to support state-of-the-art quantification, modelling and control cyber accumulation risk. Munich Re is the market leader in the swiftly growing cyber (re)insurance market and offers both insurance and reinsurance under one roof.
The reinsurance industry is offering expert solutions and providing significant capital to nurture the growing cyber insurance marketplace. An extreme cyber event has the potential to deeply impact thousands of organizations at once, and the accumulation of liabilities across multiple insured portfolios could result in substantial losses. CyberCube's cyber risk-modeling platform enables (re)insurers to strengthen their accumulation risk management and exposure measurement.
Stefan Golling, Chief Underwriter of Munich Re: "Cyber insurance is a key focus of our innovation strategy. We have made significant investments in our own cyber risk expertise and we seek to complement this with insights from the cyber eco-system. Leveraging the capabilities of CyberCube will help our underwriting and risk modelling teams in better quantifying cyber risk and understanding potential cyber accumulation scenarios."
Munich Re, a leading reinsurer, aims to leverage CyberCube's advanced cyber aggregation risk modeling capabilities and address the challenges in the fast-evolving cyber risks landscape