(Image source: CyberCube Broking Manager page.)
Cyber risk analytics vendor CyberCube (San Francisco) has launched Version 2.0 of Broking Manager, a Software-as-a-Service solution designed specifically for insurance brokers. CyberCube describes Broking Manager as empowering brokers to instantly produce cyber financial loss reports on millions of companies while providing rich information to help them articulate their clients’ cyber exposure, whether they specialize in cyber insurance or not.
The vendor reports that the latest edition of Broking Manager includes a variety of enhancements in the workflow, usability, and risk transfer benchmarking. With the update, Broking Manager streamlines team-oriented workflows with sharing and co-editing features to simplify internal hand-offs and allow brokers to work on accounts together, a CyberCube’s announcement of the update.
CyberCube reports that the addition of a Summary Report optimized for broker-client touch points supports insurance transfer discussions. It also incorporates enhancements to improve usability as well as more robust risk transfer benchmarking insights with the latest purchasing trends and peer customization for more tailored and direct peer comparison. “This is a critical capability when brokers are working with fast-growing clients or clients whose profile encompasses multiple or niche industries,” the CyberCube announcement says.
“Brokers play a vital role in helping clients identify and manage cyber risk,” notes Natalie Chin, Senior Principal Product Manager for Broking Manager, CyberCube. “By providing them with the cyber exposure insights they need, in a ready-for-communication format, Broking Manager supports and streamlines their conversations to a wide array of audiences.”
Streamlining the Cyber Risk Discussion
“As cyber insurance needs’ mature, the market needs a standard in quantifying and communicating risk across the value chain,” Ashwin Kashyap, Co-founder and Chief Product Officer, of CyberCube. “As trusted advisors to companies on their cyber insurance purchase, insurance brokers play a very important role in the ecosystem by connecting insurance buyers with carriers. CyberCube has created a market standard via Broking Manager that streamlines the discussion on cyber risk at the point of purchase using methods that are widely accepted by the insurance value chain.”