Ascot Group Implements Guidewire Cyence for Cyber Insurance Growth

Ascot’s U.S. insurance company will use Cyence risk selection and accumulation management products to leverage internet-scale cyber data listening and modeling.

(Image credit: Pete Linforth/TheDigitalArtist.)

Ascot Group (London) a global specialty insurance and reinsurance group, has announced that its United States insurance company, Ascot U.S. (New York), is using Guidewire Software’s (San Mateo, Calif.) Guidewire Cyence risk selection and accumulation management products to leverage internet-scale cyber data listening and modeling capabilities to grow their cyber line of business.

Matthew Kramer, CEO, Ascot U.S.

“Ascot is delighted to partner with Guidewire to assist our underwriting teams with continued exceptional service for our clients,” comments Matthew Kramer, CEO, Ascot U.S. “As the risk environment around cyber continues to evolve rapidly, this partnership ensures that we will continue to use the best technology available to protect our insureds.”

“The thousands of cyber data points and insights offered by Cyence help our underwriters erode the uncertainty when selecting risks,” comments Drew Walter, U.S. EVP and head of cyber and professional liability, Ascot. “User feedback has been positive, especially around its intuitiveness.”

Infusing Data Analytics

“We are excited by Ascot’s use of Cyence and admire the company’s mission of offering its clients the utmost financial security while delivering bespoke products and world-class service – pre- and post-claims,” said Paul Mang, chief innovation officer, Guidewire Software. “We are pleased by their vote of confidence in our cyber capabilities and look forward to working with Ascot to infuse data analytics to help the company achieve its strategic goals.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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