Cyberwrite expands partnership with Markel

Cyberwrite expanded its partnership with Markel to enhance the capabilities of its underwriting, broker enablement, and cyber risk modeling across Europe.

Markel Europe has been utilizing Cyberwrite’s 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.

“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. 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.” – Nir Perry, CEO and Founder of Cyberwrite.

“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. The approach of collecting data on each risk and quantifying it enables ground-up catastrophe modeling abilities that translate into improved model certainty.” – said Frederik Wulff, CEO of Markel Europe.