Ariel Re selects CyberCube cyber risk tool

Bermuda-based Ariel Re has opted to use Portfolio Manager, the cyber risk analytics platform from CyberCube.

Portfolio Manager is a scenario-based data-driven model that enables risk professionals to develop insights for their senior leadership and teams. Originally launched in March 2018, it was the first fully probabilistic cyber catastrophe model to enable clients to drill down and identify loss drivers and areas of risk accumulation.

Daniel Carr, head of Cyber at Ariel Re, said: “Deeply analysing, quantifying and managing our exposure is critical to the success of our business and is at the heart of Ariel Re’s heritage – cyber is no different.

“I have been closely involved with the cyber and modelling industry over many years, and I have seen many solutions come to market claiming to solve a range of cyber modelling challenges. CyberCube’s Portfolio Manager is the most mature offering and is widely adopted by our cedant and partners alike. This alone improves our collective ability to communicate risk across a common framework, which we believe is key to the market’s ability to grow following a period of volatility and rapid rate movement.”