QBE North America launches new cyber program

QBE North America has launched a cyber insurance program with new MGA Converge Insurance acting as program administrator. The program will be broken down into two separate distribution structures, each with a distinct revenue focus and cyber security data access formation.

• ConvergeElements™ offers primary and excess cyber coverage through select agents and brokers for companies with up to $100 million in revenue. Converge’s proprietary technology platform allows it to ingest and collate data from applications, external system scans, underwriting and claims workspaces, insured/broker portals, analytics workspaces, and other specialized data sources to underwrite cyber risks more swiftly and effectively.
• ConvergeConnect™ offers primary cyber coverage through prequalified technology provider partnerships for companies with up to $750 million in revenue. These partners provide Converge with access to insured-specific behind-the-firewall security and underwriting data to provide best-in-class customer solutions leveraging unmatched insights on cybersecurity posture.

“Converge’s unique ability to access and analyze detailed cyber risk information aligns perfectly with our control-based underwriting approach. Furthermore, Converge’s operational efficiency allows us to target small business through the program, complementing business we write through our retail Cyber practice.” – Danielle Librizzi, Head of Professional Liability and Financial Lines Programs, QBE North America.