Cyberwrite Expands Partnership with Markel to Advance Underwriting With AI-Driven Predictive Cyber Analytics in Europe

Business Wire

2 days ago

NEW YORK--(BUSINESS WIRE)-- Cyberwrite, a leading provider of cyber risk modeling, has expanded its partnership with Markel Insurance, the insurance operations within Markel Group Inc. (NYSE:MKL), to enhance the capabilities of its underwriting, broker enablement, and cyber risk modeling across Europe.
Markel Europe has been utilizing Cyberwrite's AI-driven technology to help underwriters understand and model exposures and communicate findings to underwriters, brokers, and clients. This integration enables Markel to gain insights using predictive cyber risk analytics for any business worldwide, driving down loss ratios and enabling data-driven underwriting in seconds. The data and analytics further enable next-gen cyber catastrophe modeling.
'Cyberwrite is proud to be a Markel technology provider. Markel has established itself as a forward-thinking specialty insurer that prioritizes data-driven underwriting precision,' said Nir Perry, CEO and Founder of Cyberwrite. 'This expanded partnership demonstrates how our patented AI-driven cyber insurance underwriting technology specifically addresses the gaps that have historically complicated cyber insurance underwriting and modeling. Together, we're enabling both underwriters and brokers to quantify the economic impact and probability of a cyber claim with unprecedented granularity and enable lower loss ratios by identifying high-risk businesses before they suffer a breach.'
Cyberwrite's patented quantitative AI technology transforms complex technical cyber risk data into actionable business insights, allowing insurance professionals to clearly communicate the specific probability of a breach or incident and the potential economic impact of such an event to any business in seconds. The platform provides contextual benchmarking against industry peers and enables the usage of the data in Cyberwrite's next-gen catastrophe modeling solution.
Many insurers struggle with limited or inconsistent datasets for cyber risk modeling, creating uncertainty in an environment where threats constantly evolve. Cyberwrite's real-time data-collection abilities cover more than 99.97% of businesses globally, ensuring users can get a risk report for virtually any organization at the time of underwriting in eight languages.
'Cyberwrite's platform has transformed how we evaluate cyber risk across diverse markets and industries for small and mid-size businesses,' said Frederik Wulff, CEO of Markel Europe. 'Our underwriters can now quantify factors that were previously difficult to measure in real-time for any business in local language, enabling brokers to easily explain cyber risks, and giving clients a clearer picture of their specific cyber risks so they know how much cyber coverage to buy, and how to reduce the risk of a breach. The approach of collecting data on each risk and quantifying it enables ground-up catastrophe modeling abilities that translate into improved model certainty.'
Learn more about how Cyberwrite reduces risk in cyber insurance.
About Cyberwrite
Founded in 2017 by veterans of the cybersecurity and insurance industries, Cyberwrite is a global leader in AI-driven cyber risk quantification and modeling. Its solutions are trusted by leading insurers, reinsurers, and brokers to power cyber catastrophe modeling, streamline cyber insurance distribution, and enable AI-driven underwriting that reduces loss ratios and operating costs. Cyberwrite's flagship platform, 4SEEN ®, delivers real-time, actionable insights on hundreds of millions of companies worldwide, providing unparalleled visibility into cyber risk. Recognized as a Gartner Cool Vendor and honored by Frost & Sullivan, Cyberwrite is at the forefront of innovation in cyber risk analytics. For more information, visit: www.cyberwrite.com.
About Markel Insurance
Markel Insurance is a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), Markel Insurance leverages a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide.