Cyber risk modelling startup Kovrr is going to use its solutions to analyse the accumulated cyber risk exposure for MAPRE RE.
It will particularly look at the risk in cyber (re)insurance treaties for the reinsurance company, which is part of global insurer the MAPFRE Group.
By tapping into Kovrr’s portfolio of solutions, MAPFRE RE is aiming to advance its capabilities for assessing accumulated cyber risk exposure in their treaties.
“MAPFRE RE is keen to understand cyber risks and our potential exposure”, said Maite González Vargas, global chief innovation at MAPFRE RE. “Kovrr has provided us extensive value and expertise to identify and quantify cyber risk. Kovrr’s technology can efficiently analyse cyber risk accumulation.”
Joan Cuscó, global head of transformation at MAPFRE Open Innovation, added, “Kovrr is a great success story for our startup engagement programme, Insur_space. Our mission is to adopt disruptive solutions for the insurance industry and Kovrr’s collaboration with MAPFRE RE is an example of what (re)insurers and technology startups can accomplish when they bring their expertise together.”
Yakir Golan, CEO of Kovrr, commented, “Kovrr is delighted to collaborate with MAPFRE RE in its efforts to tackle a complex challenge in the (re)insurance market. Kovrr’s cyber risk modelling platform leverages diverse best in class firmographic and technographic data sources to provide unique views of risk for risk professionals. We are excited to bring these capabilities to support a leader in the reinsurance market in their cyber insurance endeavours.”
The news comes after Kovrr secured $5.5m in a financing round in September 2019 to strengthen its ability to grow internationally. StageOne Ventures and Mundi Ventures led the round, with participation also coming from Banco Sabadell and other private investors.
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