Cyber risk analytics provider CyberCube has formed a strategic partnership with Affinity Marketplace to integrate insurance quotes into a single workflow to drive growth in cyber insurance adoption among small and medium-sized enterprises (SMEs).
The partnership aims to streamline several long-standing challenges that SMBs face in insurance adoption, including the need to streamline cyber risk communications, improve broker efficiency and expand cyber expertise across the brokerage organization.
It will leverage CyberCube’s Broking Manager software, which applies analytics to generate targeted information about customers’ cyber risk profiles. By bundling cyber risk education and insurance quotes, brokers can stay within a single ecosystem throughout the customer journey.
The solution breaks down complex cyber risk information into clear, relevant business risk insights, helping SMBs better understand their risks and insurance needs.
Broker manager reports can discuss company-specific financial risks and provide risk transfer benchmark data to support insurance buyers in making limit and underwriting decisions, the pair explained.
Nate Brink, director of broker sales and account management at CyberCube, commented: “This strategic relationship between CyberCube and Affinity Marketplace solves the profit and education crisis that has long plagued the SMB cyber insurance industry.
“By automating the quoting process directly with actionable risk data in the same workflow, brokers can instantly demonstrate true risk without the need for complex technical jargon.”
Andrew Suesserman, co-founder of Affinity Marketplace, said: “Affinity Marketplace is designed to give brokers the tools they need to scale efficiently, and our partnership with CyberCube delivers on just that. We combine fast, automated web quoting with clear risk diagnostics in a single environment.
“This removes the complex terminology that often hinders SMB sales and gives generalist brokers the confidence to advise on risks and limitations like a seasoned cyber expert. We can’t wait to see our brokers leverage this to unlock new, highly profitable growth.”
Kevin Merchant, Wholesure’s national cyber practice leader, added: “With so few cyber experts in the market today, closing the critical gap in SMB protection can feel like an uphill battle. The combination of Affinity Marketplace and CyberCube is an absolute game changer for our brokers, retail agents and the insureds we protect.”
“By leveraging Affinity Marketplace, our agents have instant access to seamless, efficient web quotes that remove traditional friction from the insurance enrollment process. Coupled with CyberCube’s powerful financial loss impact and benchmark reporting, our retail agents are equipped with the accurate data-driven storytelling tools they need to educate insureds. We can provide small business owners with clear, quantified evidence of their true financial exposure and show them how their peers are structuring risk transfer.”
