CyberCube, the provider of the world’s leading cyber risk analytics for the insurance industry, today announces that McGill and Partners, the specialist (re)insurance broker, is using its Portfolio Manager and Broking Manager cyber risk analytics platforms.
Launched in 2019 by insurance veteran Steve McGill, McGill and Partners is rapidly growing to become a major force in the insurance and reinsurance market, quickly developing its offering in both cyber reinsurance and insurance. Today the firm has over 430 staff and offices in the UK, US, Bermuda and Ireland. The deal with CyberCube is part of McGill and Partners’ continued development of its cyber (re)insurance strategy.
CyberCube’s Portfolio Manager is a scenario-based data-driven model that enables risk professionals to develop insights for their senior leadership and teams. Portfolio Manager stress tests portfolios of insurance and reinsurance risks against a range of systemic cyber-related scenarios including data breaches, cloud outages, global ransomware attacks and financial fraud.
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Broking Manager is the first software-as-a-service application CyberCube has built specifically for the insurance broking community. It offers a streamlined approach to analyzing potential financial exposure impacts arising from cyber events that helps clients make informed decisions on coverages and limits.
Alejandra Donoso, CyberCube’s Principal Client Account Manager, said: “We are excited to be working with the team at McGill and Partners and be part of the company’s cyber (re)insurance growth strategy on both the direct insurance side via Broking Manager and on its reinsurance side via Portfolio Manager.”
Neil Sharma, Partner – Reinsurance at McGill and Partner, said: “We are looking to bring all stakeholders in the cyber value chain together; collaborating between our insurance and reinsurance teams and partnering with CyberCube’s platforms which help deepen our understanding of the risks allowing us to provide best-in-class solutions to our clients.”
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