AdvantageGo, a leading commercial insurance and reinsurance software provider, and FortifyData, a top provider of cyber risk management solutions, have announced a strategic alliance to improve cyber risk analysis for underwriters.
The partnership aims to enhance the capabilities of cyber insurance underwriters by integrating FortifyData’s platform with AdvantageGo’s Underwriting Workbench.
This integration will allow underwriters to utilise FortifyData’s analytics alongside broker/client data, internal data sources, and other third-party inputs.
AdvantageGo’s Underwriting Workbench, now equipped with a cyber-specific edition, will leverage FortifyData’s insights as part of its ecosystem of data providers. This marks a significant milestone as the first-of-its-kind integration specifically designed to meet the needs of cyber underwriters.
Ian Summers, global business leader at AdvantageGo, commented, “It’s great news to announce this latest AdvantageGo Ecosystem partnership with FortifyData. Their threat analysis and mitigations insight provides a strong rationale to support the cyber underwriter’s risk and pricing decision-making process.”
Summers further added, “The cyber security ratings provided by FortifyData are a best-of-breed insight for risk selection, pricing, as well as security and compliance control deficiencies. Furthermore, by integrating with other data inputs offered through our cyber Underwriting workbench, they offer cyber underwriters something greater than the sum of its parts.”
“This unique integration partnership is about generating insights, and going beyond the goal of digitising processes, towards providing a 360 degree risk view of the past, present and future for cyber underwriters,” Summers concluded.
Victor Gamra, CEO of FortifyData, stated, “It is exciting to be at the forefront with this shift in the insurance industry, where insurance providers are looking for more thorough and complete assessment data to help with better underwriting. I am looking forward to the industry adopting similar approaches as they look to better understand their risks, comprehensively, to reduce their own liability exposures.”
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