CyberCube, a provider of cyber risk analytics serving the insurance industry, has launched a new feature in its Broking Manager tool to support growth in the Asia Pacific, Middle East and Latin America cyber markets.
Brokers will now be able to use the regional risk transfer benchmarking tool, which has been added to CyberCube’s analytics platform Broking Manager, to make faster and more confident decisions about cyber insurance placements.
The tool facilitates effective communication of cyber risk with clients by providing financial risk and benchmark data, enabling intermediaries to substantiate their cyber insurance recommendations against regional markets.
Nate Brink, Head of Broker Partnerships at CyberCube, commented: “In addition to benchmarking clients against global markets, brokers can now compare clients to selected regional peer groups, providing a deeper understanding of what buying behavior actually looks like in local markets.”
Regional risk transfer benchmarks introduce specific geography peer comparisons for North America, Europe, the Middle East and Africa (EMEA), Asia Pacific (APAC) and Latin America (LATAM). Region-specific benchmarks have been specifically requested to help unlock growth in the small and medium enterprise (SME) market.
CyberCube highlighted that the strengthening of broker managers further highlights the growth potential of the international cyber re/insurance market.