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Established in 1966, Lockton has over 60,000 clients globally and is the world’s eighth-largest insurance brokerage. The business has over 100 offices in over 125 countries.
Broking Manager will allow Lockton’s teams to quantify the sources and financial impact of cyber risk exposure and educate clients accordingly, a vendor statement says. The platform also produces reports that can be used to educate prospects and clients on potential sources of loss, recent and relevant cyber events, and peer-to-peer benchmarking, CyberCube reports.
“We’re excited to add CyberCube’s capabilities to our client-facing analytics strategy,” comments Anthony Dagostino, EVP, Global Cyber & Technology Practice Leader, Lockton. “Our approach provides value on many levels by leveraging multiple data sources from the cyber security and insurance sectors. Lockton’s data-driven proposition continues to improve accuracy in predictive modeling, capital modeling, and benchmarking for cyber risks.”
CyberCube describes Broking Manager as designed and tailored specifically to the needs of the insurance broking community. It offers a streamlined approach to generating financial exposure impact that helps clients make informed decisions on coverages and limits, according to the vendor. Broking Manager complements CyberCube’s two other products: Portfolio Manager and Account Manager, which are designed for risk carriers and are used by leading companies across the insurance ecosystem, the vendor says.
Huge Vote of Confidence
“We’re thrilled that a broker as significant as Lockton has chosen to partner with us,” comments Oren Schetrit, Director of Product, CyberCube. “It’s a huge vote of confidence in Broking Manager, particularly the product’s potential to radically enhance brokers’ awareness of how cyber risk impacts on their business and their clients.”
CyberCube has proven to be a low-friction predictive modeling solution tailored to clients’ risk profile, according to Colin White, head of Cyber Analytics, Lockton. “This fits in seamlessly as one pillar in the comprehensive discussion of the qualitative and quantitative factors influencing the limit purchase decision.”