Canadian multi-line insurance coverage dealer Navacord has built-in Cyberwrite’s cyber threat quantification device into its choices to boost the capabilities of its brokers within the cyber insurance coverage area.
The partnership goals to supply instruments for assessing monetary publicity to cyber threats and to assist decision-making for enterprise leaders.
It offers Navacord’s brokers entry to Cyberwrite’s AI-driven cyber insurance coverage analytics platform.
The platform permits the quantification of monetary dangers related to cyberattacks and affords insights into threat mitigation methods.
It additionally helps to enhance threat profiles earlier than the underwriting course of and acquiring appropriate insurance coverage insurance policies.
Navacord Cyber and Skilled Traces vice-president Patrick Bourk acknowledged: “Cyberwrite permits us to advocate to insureds the satisfactory protection based mostly on every shopper’s distinctive technological profile and publicity, and share intimately the chance and influence of cyber threat in a simple-to-understand method.”
Utilising Cyberwrite’s expertise, Navacord can generate cyber threat experiences for management-level executives akin to CEOs, chief monetary officers (CFOs) and IT leaders.
These experiences assess the likelihood and potential monetary influence of cyber incidents, serving to purchasers perceive their insurance coverage wants and refine their threat administration practices.
Bourk added: “By utilizing Cyberwrite’s AI-driven experiences, our brokers assist purchasers higher handle cyber threat with a coverage that’s proper for them in addition to the insights for CEOs and CFOs to know protection wants.”
Cyberwrite’s platform is able to real-time information evaluation, delivering threat experiences in a number of languages for any organisation inside seconds, and is operational in additional than 50 international locations.
Cyberwrite CEO Nir Perry mentioned: “Cyberwrite permits Navacord’s brokers to assist their purchasers quantify their exposures and get the coverage they want utilizing a threat report that’s tailor-made to every insured, not like generic benchmarking info, which is deceptive at greatest and damaging in lots of instances.
“Navacord’s dedication to utilising AI fashions for cyber threat quantification aligns completely with their clients’ wants for real-time, tailor-made insights.”
In June, Cyberwrite expanded its collaboration with Markel Europe to enhance underwriting processes, dealer assist and cyber threat modelling in Europe.
Markel Europe employs Cyberwrite’s AI expertise to assist underwriters consider dangers and talk findings to brokers and purchasers.
“Navacord adopts Cyberwrite’s threat quantification device ” was initially created and printed by Life Insurance coverage Worldwide, a GlobalData owned model.
