Cyber risk modelling company Kovrr will deploy its technology into reinsurance firm MAPFRE RE, as part of a new deal.
MAPFRE RE hopes to deal will expand its skills for assessing accumulated cyber risk exposure with underwriting and pricing capabilities.
Kovrr aims to help firms to utilise data-driven insights to understand and manage their cyber risk through its AI-powered models.
MAPFRE RE head of cyber Oscar Taboada said “We are excited to expand our partnership with Kovrr and begin using the newest features in their Portfolio Exposure Management solution.
“Based on robust event catalogue data and industry leading usability, their intuitive and transparent platform allows us to better understand and manage cyber risk to improve our decision making, helping us manage our accumulated cyber risk exposure as well as underwriting tasks”
Kovrr has updated its event catalogue, following research on the current cyber threat landscape, emerging risks, threat actors, attack methods, and ransomware and malware campaigns.
Kovrr chief product officer and co-founder Shalom Bublil said, “We are pleased to introduce robust new features and capabilities for our model and platform, which will make it even easier for our customers to understand, financially quantify and manage cyber risk in their portfolios and provide the most accurate information for pricing.
“It’s great to be able to establish our partnership with MAPFRE RE to truly understand the quantification capabilities needed by ‘innovational’ businesses and continue to use our cyber expertise to bring the top notch cyber risk models to the market”
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