Latest news with #Markel
Yahoo
a day ago
- Business
- Yahoo
Markel expands tie-up with Cyberwrite for cyber risk modelling
Cyberwrite, a provider of cyber risk modelling, has expanded its partnership with Markel Insurance to enhance underwriting, broker enablement and cyber risk modelling across Europe. Markel Europe uses Cyberwrite's AI-driven technology to help underwriters model exposures and share findings with brokers and clients. The integration provides predictive cyber risk analytics for businesses worldwide, reducing loss ratios and enabling data-driven underwriting in seconds. The technology also supports advanced cyber catastrophe modelling. Cyberwrite's patented AI transforms complex cyber risk data into actionable insights, allowing professionals to quickly communicate breach probabilities and economic impacts. The platform offers benchmarking against industry peers and supports Cyberwrite's next-generation catastrophe modelling solution. Cyberwrite CEO and founder Nir Perry said: '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 modelling.' Markel Europe CEO Frederik Wulff stated: 'Cyberwrite's platform has transformed how we evaluate cyber risk across diverse markets and industries for small and mid-size businesses. '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.' This partnership expansion follows a similar initiative by Samsung Fire & Marine Insurance, which recently joined forces with Cyberwrite to enhance its cyber insurance processes. Founded in 2017 by cybersecurity and insurance veterans, Cyberwrite is a leader in AI-driven cyber risk quantification. Its solutions are used by insurers, reinsurers and brokers to streamline cyber insurance distribution and reduce costs. "Markel expands tie-up with Cyberwrite for cyber risk modelling " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
Cyberwrite Expands Partnership with Markel to Advance Underwriting With AI-Driven Predictive Cyber Analytics in Europe
NEW YORK, June 03, 2025--(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: 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. View source version on Contacts Matt McLoughlinGregory FCA for Cyberwrite610-228-2123cyberwrite@
Business Wire
2 days ago
- Business
- Business Wire
Cyberwrite Expands Partnership with Markel to Advance Underwriting With AI-Driven Predictive Cyber Analytics in Europe
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: 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.
Globe and Mail
3 days ago
- Business
- Globe and Mail
Markel announces completion of MECO acquisition
LONDON , June 2, 2025 /CNW/ -- Markel Insurance, the insurance operations within Markel Group Inc. (NYSE:MKL), today announced that it has completed its acquisition of specialist marine MGA, The MECO Group Limited (MECO), following regulatory approvals. Andrew McMellin, President of Markel International, stated: "We're thrilled to finalise this acquisition and officially welcome MECO's people to Markel. MECO is a well-regarded brand, known for its professionalism, operational quality, and robust distribution channels in regions where we're actively expanding our presence. I look forward to the opportunities we can leverage as we join forces." Chris Else , Chief Executive of MECO, remarked: "This development represents an important milestone in the evolution of the MECO Group. Markel is a rapidly growing organisation that has built its success on a strong balance sheet, clear strategic vision, and philosophy of local empowerment. From early discussions with the leadership team, it was evident that their core values, as a people-powered business, make Markel an excellent fit for MECO as we embark on this new and exciting chapter." MECO, which has offices in London , Dubai , Shanghai and Hamburg , will trade as MECO Specialty, as part of the Specialty division of Markel International's Wholesale operation, led by Tom Hillier , Managing Director - Specialty. About Markel Insurance We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage 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.
Yahoo
3 days ago
- Business
- Yahoo
Markel announces completion of MECO acquisition
LONDON, June 2, 2025 /CNW/ -- Markel Insurance, the insurance operations within Markel Group Inc. (NYSE:MKL), today announced that it has completed its acquisition of specialist marine MGA, The MECO Group Limited (MECO), following regulatory approvals. Andrew McMellin, President of Markel International, stated: "We're thrilled to finalise this acquisition and officially welcome MECO's people to Markel. MECO is a well-regarded brand, known for its professionalism, operational quality, and robust distribution channels in regions where we're actively expanding our presence. I look forward to the opportunities we can leverage as we join forces." Chris Else, Chief Executive of MECO, remarked: "This development represents an important milestone in the evolution of the MECO Group. Markel is a rapidly growing organisation that has built its success on a strong balance sheet, clear strategic vision, and philosophy of local empowerment. From early discussions with the leadership team, it was evident that their core values, as a people-powered business, make Markel an excellent fit for MECO as we embark on this new and exciting chapter." MECO, which has offices in London, Dubai, Shanghai and Hamburg, will trade as MECO Specialty, as part of the Specialty division of Markel International's Wholesale operation, led by Tom Hillier, Managing Director - Specialty. About Markel Insurance We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage 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. View original content to download multimedia: SOURCE Markel View original content to download multimedia:
