Oren Schetrit

Lockton, the globally renowned independent broker and cyber security solutions firm, is rolling out CyberCube’s Broking Manager, the cyber risks analytics platform for insurance intermediaries. Established in 1966, Lockton has over 60,000 clients globally and is the world’s eighth-largest insurance brokerage. The business has over 100 offices in over 125 countries. CyberCube has designed and tailored Broking Manager specifically to the needs of the insurance broking community. It offers a streamlined approach to generating financial exposure impact that helps clients make informed decisions on coverage and limits. Broking Manager, cyber risks analytics platform Broking Manager will allow Lockton’s teams to quantify the sources and financial impact of cyber risk exposure and educate clients accordingly. The platform also produces reports that can be used to educate prospects and clients on potential sources of loss, recent and relevant cyber events, and peer-to-peer benchmarking. Oren Schetrit, Director of Product for CyberCube, said, “We’re thrilled that a broker as significant as Lockton has chosen to partner with us. It’s a huge vote of confidence in Broking Manager, particularly the product’s potential to radically enhance brokers’ awareness of how cyber risk impacts on their business and their clients.” Client-facing analytics strategy We’re excited to add CyberCube’s capabilities to our client-facing analytics strategy" Anthony Dagostino, Executive Vice President and Global Cyber & Technology Practice Leader, Lockton, said, “We’re excited to add CyberCube’s capabilities to our client-facing analytics strategy. Our approach provides value on many levels by leveraging multiple data sources from the cyber security and insurance sectors. Lockton’s data-driven proposition continues to improve accuracy in predictive modeling, capital modeling, and benchmarking for cyber risks." Colin White, Head of Cyber Analytics for Lockton, adds “CyberCube has proven to be a low-friction predictive modeling solution tailored to our clients’ risk profile. This fits in seamlessly as one pillar in the comprehensive discussion of the qualitative and quantitative factors influencing the limit purchase decision.” Complements Portfolio Manager and Account Manager Broking Manager complements CyberCube’s two other products, Portfolio Manager and Account Manager, which are designed for risk carriers and are used by renowned companies across the insurance ecosystem.

US-based Insurance brokerage Woodruff Sawyer has partnered with CyberCube to become one of the first organizations to leverage CyberCube’s “Broking Manager” in its insurance advisory services. Woodruff Sawyer, a 100-year-old insurance broker headquartered in San Francisco, advises clients on business risks and risk mitigation in the areas of cyber liability, management liability, property and casualty and employee benefits. Broking Manager is the first software-as-a-service application CyberCube has built specifically for the insurance broking community, and offers a stream-lined approach to generating the financial exposure impact that helps clients make informed decisions on coverages and limits. Recent and relevant cyber events Broking Manager allows Woodruff Sawyer to quantify and explain to their clients, both large and small, the sources and financial impact of cyber risk exposure. The platform also produces reports that can be used to educate prospects and clients on potential sources of loss, recent and relevant cyber events, and peer-to-peer benchmarking. Oren Schetrit, Director of Product for CyberCube, said: “We’re thrilled to have partnered with Woodruff Sawyer through our beta program, and that Woodruff Sawyer has chosen to use our platform going forward. Brokers have a key role to play in helping companies manage their financial exposure to cyber risk; and we’re confident Broking Manager will help accomplish this.” “Woodruff Sawyer has been an exemplary partner and thought leader in terms of understanding cyber threats and the risks they pose to enterprises. Working together, we’ve ensured that our product meets their enterprise client needs, while focusing on efficient brokerage workflows. We look forward to helping Woodruff Sawyer leverage our platform to quantify cyber risk exposure and facilitate informed insurance buying decisions.” Quantifying clients’ cyber risk Dan Burke, Partner and National Cyber Practice Leader for Woodruff Sawyer added: “CyberCube’s ‘Broking Manager’ is changing how Woodruff Sawyer approaches our clients’ cyber liability needs.  The platform quickly and easily models and quantifies our clients’ cyber risk.  As a result, we’re able to have thoughtful conversations about a client’s risk appetite and the appropriate level of insurance they require.” Broking Manager complements CyberCube’s two existing products: Portfolio Manager and Account Manager, which are designed for risk carriers and are used by companies across the insurance ecosystem.

Cyber risk analytics specialist CyberCube launches ‘Broking Manager’ – a new software-as-a-service application designed specifically for insurance brokers. ‘Broking Manager’ facilitates quick and efficient client insight for both generalist and cyber specialist brokers. The product is built to help brokers quantify, understand, and explain to their clients, the sources and financial impact of cyber risk exposure. Perimeter scan data This development recognizes that insurance advisors need to be able to educate prospects and clients while demonstrating an understanding of their needs and exposures. Brokers are expected to align clients’ goals, budgets, and exposure to the appropriate limits and best-fit carrier policies. With cyber risk, this means understanding the types of scenarios that may cause financial loss and the costs that would drive losses. Broking Manager empowers brokers to instantly produce a cyber-financial loss report on millions of companies Knowing where a client can increase or cut back on premium dollars while still hitting their coverage goals is imperative to helping them optimize their budget. Broking Manager empowers brokers to instantly produce a cyber-financial loss report on millions of companies, while providing rich information to help brokers articulate their clients’ cyber exposure. It does so by leveraging advanced models that draw on data from a large number of sources including behind the firewall and perimeter scan data, historical incidents and losses, and firmographic data. Promoting informed conversations The product offers a stream-lined approach to generating the financial exposure impact of client-specific security and business practices. Brokers can also leverage the product to educate clients on potential loss classes, recent cyber events, and benchmarking of cyber risks against peers. Oren Schetrit, CyberCube’s Director of Product, said: “With Broking Manager we set out to tackle the most fundamental question facing brokers today; what coverages and limits do companies need? We’ve had considerable interest from the broking community internationally, so we felt the time was right to build and launch this product.” “Brokers play a vital role in helping clients identify and manage risk. Our goal is to empower them to quantify and explain cyber risk exposure to a broad audience without becoming experts in information security. Broking Manager will promote informed conversations that will ultimately lead to better buying decisions.” Cyber-Based scenarios Portfolio Manager is used by insurers to stress tests portfolios of cyber risks Ashwin Kashyap, Co-founder of CyberCube and Head of Product and Analytics, said: “Cyber insurance as a line of business is still in its early stages of growth and there is a clear need for a solution to help companies make informed decisions on what they need to buy.” “As trusted advisors to companies on their cyber insurance purchase, insurance brokers play a very important role in the ecosystem by connecting insurance buyers with carriers. CyberCube has built a solution to enable the growth of the cyber insurance market and support this important segment in the insurance value chain." Broking Manager is the third product in CyberCube’s suite of applications, alongside Portfolio Manager and Account Manager. Portfolio Manager is used by insurers to stress tests portfolios of cyber risks against dozens of cyber-based scenarios. Account Manager is used during the underwriting process itself to provide underwriting teams with a detailed analysis of cyber risk.