CatX adds CyberCube analytics to enhance Cyber ILS proposition

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May 4, 2024
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Digital marketplace CatX will be advancing its capabilities through collaboration with CyberCube, the leading cyber risk analytics company.

CyberCube's analytics will empower CatX to assist brokers and (re)insurers in broadening their capacity bases while enhancing their ability to model and price cyber risks effectively. The partnership will empower institutional investors to gain deeper insights into underlying cyber risks when making investment decisions.

The partnership will enable the integration of CyberCube’s  a scenario-based catastrophe model that empowers portfolio-level insights for senior leadership decision-making, into CatX’s marketplace. Customers will also benefit from CyberCube’s Industry Exposure Databases, which allow (re)insurers and brokers to perform a wide array of benchmarking, sensitivity, and analyses for cyber risks as they consider participating in Industry Loss Warranties (ILW).

Benedict Altier, Chief Executive Officer of CatX, said: “We are seeing strong demand from investors for cyber insurance-linked security (ILS) products and expect to see this segment expand significantly over the next few years. Alternative capital will play a critical role in improving the stability of the broader cyber insurance market. Partnering with CyberCube will give brokers, insurers, and investors access to leading cyber risk analytics directly on the CatX platform.”

Ross Wirth, Head of Partnership & Ecosystem at CyberCube, said: “This strategic partnership will help provide greater confidence to investors seeking additional access to investments such as industry loss warranties. We are thrilled to enable investor access to CyberCube’s leading models on the CatX platform, providing another source of capital in this quickly expanding market.”

Lucas Schneider, Chief Technology Officer at CatX, said: “Working with CyberCube will help us further our ambition to become the leading venue for cyber index-based and parametric reinsurance and retrocession transactions. CyberCube’s datasets will help to augment our ILS-analytics suite supporting risk-adjusted pricing, scenario analysis and benchmarking.”

About CatX

CatX connects (re)insurers and brokers with new sources of alternative capital from institutional investors, helping to unlock a new asset class for insurance risk. The CatX platform offers an advanced submission builder with structure recommendations based on analysis of 1000+ insurance-linked security transactions. Through the platform, brokers and insurers can get access to capital from funds with more than $500bn in total assets under management. Funds can leverage world-class models and analytics and a streamlined process to invest in opportunities across insurance risk, from natural catastrophes to cyber. CatX is backed by Y-Combinator, is part of the Lloyds Lab and Plug & Play accelerators and is regulated by the Bermuda Monetary Authority.