Japan’s Tokio Marine Selects CyberCube for Global Cyber Accumulation Partnership

SAN FRANCISCO--(BUSINESS WIRE)--Tokio Marine, the global P&C insurance group, has become the latest globally leading insurance institution to partner with leading cyber risk analytics specialist CyberCube.

In a wide-ranging agreement, Tokio Marine has gained access to a suite of CyberCube’s products including Account Manager, Portfolio Manager and a range of other cyber modeling solutions. This constitutes CyberCube’s most comprehensive deal to date with an Asia-headquartered insurance institution.

Tokio Marine Group operates a worldwide network, with cyber insurance being written via its Group Companies; TMNF in Japan, TMHCC in US, Europe and Asia, SNCC and PHLY in the US, and TMK in the Lloyd’s market in London.

Pascal Millaire, CEO for CyberCube, said: “This is a significant partnership for CyberCube. Tokio Marine has purchased broad access to CyberCube’s suite of carrier-based applications, complemented by new CyberCube services. By combining these offerings, Tokio Marine’s team will gain valuable insights into their cyber book and its vulnerabilities to an ever-increasing range of threats. We aspire to be the most comprehensive cyber analytics partner to insurers and this partnership highlights the unparalleled strength of our end-to-end products and services.”

Daljitt Barn, Global Head of Cyber Risk, and Head of Tokio Marine Innovation Lab, said: “Tokio Marine Group offers a comprehensive range of cyber insurance risk transfer and risk prevention solutions to businesses of all sizes and in all geographies. Analytics is of course a very important part of managing these risks. We look forward to working with CyberCube to enhance our overall risk management of the cyber line of business, as well as offer our underwriters with tools and analytics to help with risk selection.

“This partnership between Tokio Marine and CyberCube will help move the cyber insurance industry as a whole forward highlighting the need to adopt a multi-model approach to cyber accumulation to enhance understanding and demonstrate maturity around the management of cyber risks.”

Account Manager and Portfolio Manager are designed for use by various stakeholders within the insurance industry and are used by leading companies across the insurance ecosystem. Account Manager is used primarily by cyber underwriters to assess individual risks. It combines data from a large number of sources and applies specialised, insurance-focused analytics to produce targeted information on an enterprise’s cyber risk profile.

Portfolio Manager is used to analyze portfolios of cyber risk against a range of modeled cyber risk threats. It is a scenario-based data-driven model that enables enterprise risk managers in (re)insurance organisations to analyse and communicate key messages on cyber exposures to both their senior leadership and their working teams.

In addition to these CyberCube products, Tokio Marine also has access to the company’s new add-on modules, including its Attritional Loss model, its Single Point of Failure (SPoF) Intelligence feature – used to assess the risk posed by the failure of large, interconnected services like Microsoft and Google – and its Concierge enhanced access consulting service.

ENDS

About CyberCube

CyberCube delivers the world’s leading cyber risk analytics for the insurance industry. With best-in-class data access and advanced multi-disciplinary analytics, the company’s cloud-based platform helps insurance organizations make better decisions when placing insurance, underwriting cyber risk and managing cyber risk aggregation. CyberCube’s enterprise intelligence layer provides insights on millions of companies globally and includes modeling on thousands of points of technology failure.

The CyberCube platform was established in 2015 within Symantec and now operates as a standalone company exclusively focused on the insurance industry, with access to an unparalleled ecosystem of data partners and backing from ForgePoint Capital, HSCM Bermuda, MTech Capital and individuals from Stone Point Capital. For more information, please visit www.cybcube.com or email [e-mail].

About Tokio Marine

Tokio Marine Group consists of Tokio Marine Holdings and its subsidiaries and affiliates located worldwide, operating extensively in the non-life insurance business, life insurance business, and financial and general businesses. As the oldest and largest Japanese property/casualty insurer (established in 1879), Tokio Marine Group has been expanding its business globally from the domestic non-life insurance business to the life insurance business and the international insurance business. With a presence in 46 countries and expanding, Tokio Marine ranks as one of the world’s most globally diversified and financially secure insurance groups.