Sompo Japan Insurance, one of Japan’s largest property and casualty (P&C) insurers, has joined CyberCube, a provider of cyber risk analytics for the insurance industry, to upgrade its underwriting and portfolio management infrastructure across Asia.
The Tokyo-based insurer has spent the past several years building its cyber capabilities, developing a tailored cyber offering for its core Japanese market.
To support this continued growth, Sompo Japan Insurance will deploy CyberCube’s primary single-risk and aggregate analytics platform.
Under this partnership, Sompo Japan’s underwriting team will implement CyberCube’s Account Manager, along with CyberCube’s Portfolio Manager suite, which includes Single Points of Failure (SPoF) Intelligence and the Attritional Loss Model (ALM).
Together, these tools will give Sompo Japan Insurance’s cyber underwriting team a fuller, more data-driven view of risk, from individual account selection through to portfolio-wide accumulation and attritional loss.
Noritaka Shigeta, CPCU, ARM, Head of Cyber, E&O, Japan at Sompo Japan Insurance, said: “As we continue to grow our cyber offering in Japan, it’s essential that our underwriting is backed by the most rigorous data and analytics available. CyberCube’s suite gives our team a much sharper view of risk, from the individual account to the full portfolio, and will be a valuable partner as we build out our cyber capabilities further.”
Juan Marcano, Principal at CyberCube, added: “We’re delighted to welcome Sompo Japan Insurance to our growing community of clients across Asia. Its adoption of our products reflects the increasing sophistication we’re seeing in cyber underwriting across the region, and we look forward to supporting Sompo Japan’s continued growth.”
Sompo Japan is one of the most recent insurers to partner with CyberCube, which continues to grow tis client base across Asia. Other recent partnerships include the Philippines, Singapore and India.
