Lockton Re (New York), the global reinsurance business of Lockton Companies (Kansas City, Kan.), has licensed CyberCube’s Portfolio Manager, The contract represents an expansion of CyberCube’s relationship with Lockton, which rolled out the vendor’s Broking Manager cyber analytics tool in 2020.
“The insurance side of Lockton has been using Broking Manager since last year and has benefited considerably from the insights it offers,” comments Adam Braithwaite, Senior Reinsurance Actuary, Lockton Re. For Lockton Re, Portfolio Manager will integrate with Lockton Re’s SAGE, its proprietary reinsurance analytics platform, to provide its clients with even greater analytical insights and advice for their cyber portfolios.”
CyberCube describes Portfolio Manager as a scenario-based data-driven model that enables risk professionals to develop insights for their senior leadership and teams. The solution also allows stress testing of portfolios of insurance risk so that loss drivers and areas of accumulation risk can be identified, according to a vendor statement. Designed to enhance enterprise risk management purposes, Portfolio Manager will allow Lockton Re to advise its clients how their portfolio exposures look for extreme events and how that might inform their reinsurance purchasing options, the vendor reports.
More Holistic View of the Impact of Cyber Risk
“We’re thrilled that Lockton Re has chosen to use another of our products,” comments Pascal Millaire, CEO, CyberCube. “This deepens our relationship with the whole of Lockton and will give Lockton’s teams and management a more holistic view of the impact of cyber risk on their clients and their business as a whole.”
Broking Manager and Portfolio Manager complement CyberCube’s other product: Account Manager, which is designed for risk carriers and is used by leading companies across the insurance ecosystem.