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Canadian multi-line insurance coverage dealer Navacord has built-in Cyberwrite’s cyber danger quantification instrument into its choices to reinforce the capabilities of its brokers within the cyber insurance coverage area.
The partnership goals to offer instruments for assessing monetary publicity to cyber threats and to help decision-making for enterprise leaders.
It offers Navacord’s brokers entry to Cyberwrite’s AI-driven cyber insurance coverage analytics platform.
The platform allows the quantification of economic dangers related to cyberattacks and gives insights into danger mitigation methods.
It additionally helps to enhance danger profiles earlier than the underwriting course of and acquiring appropriate insurance coverage insurance policies.
Navacord Cyber and Skilled Strains vice-president Patrick Bourk said: “Cyberwrite allows us to advocate to insureds the sufficient protection primarily based on every shopper’s distinctive technological profile and publicity, and share intimately the chance and affect of cyber danger in a simple-to-understand method.”
Utilising Cyberwrite’s expertise, Navacord can generate cyber danger reviews for management-level executives akin to CEOs, chief monetary officers (CFOs) and IT leaders.
These reviews assess the likelihood and potential monetary affect of cyber incidents, serving to purchasers perceive their insurance coverage wants and refine their danger administration practices.
Bourk added: “By utilizing Cyberwrite’s AI-driven reviews, our brokers assist purchasers higher handle cyber danger with a coverage that’s proper for them in addition to the insights for CEOs and CFOs to know protection wants.”
Cyberwrite’s platform is able to real-time knowledge evaluation, delivering danger reviews in a number of languages for any organisation inside seconds, and is operational in additional than 50 nations.
Cyberwrite CEO Nir Perry stated: “Cyberwrite allows Navacord’s brokers to assist their purchasers quantify their exposures and get the coverage they want utilizing a danger report that’s tailor-made to every insured, in contrast to generic benchmarking info, which is deceptive at greatest and damaging in lots of instances.
“Navacord’s dedication to utilising AI fashions for cyber danger quantification aligns completely with their clients’ wants for real-time, tailor-made insights.”
In June, Cyberwrite expanded its collaboration with Markel Europe to enhance underwriting processes, dealer help and cyber danger modelling in Europe.
Markel Europe employs Cyberwrite’s AI expertise to assist underwriters consider dangers and talk findings to brokers and purchasers.
“Navacord adopts Cyberwrite’s danger quantification instrument ” was initially created and printed by Life Insurance coverage Worldwide, a GlobalData owned model.
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