Ariel Re increases cyber capability with expanded partnership

Ariel Re has expanded its partnership with cyber risk analytics leader CyberCube as it continues to expand its underwriting of cyber insurance.

Bermuda-based Ariel said it has licensed CyberCube’s Industry Exposure Databases and Portfolio Manager APIs. It had already licensed Portfolio Manager from CyberCube, saying it was the re/insurance industry’s cyber risk modelling platform of choice.

Ariel said CyberCube’s Industry Exposure Databases were launched in October 2022 to enable (re)insurers and brokers to perform a wide array of benchmarking, sensitivity, and real-time analyses for cyber risks.

“They provide a foundation for cyber risk models and include CyberCube’s Economic Exposure Database (EED) and Industry Exposure Database (IED),” Ariel said. “ The databases are designed to work seamlessly with Portfolio Manager, the industry’s leading cyber portfolio modeling solution. With both, clients can view each Exposure Database and run analyses to develop industry loss estimates.”

It said Portfolio Manager allowed stress testing of portfolios against a range of systemic cyber-related scenarios including data breaches, cloud outages, and global ransomware attacks among others.

Daniel Carr (pictured), head of cyber at Ariel Re, said: “As we increasingly embed and expand our analytics capabilities in support of our reinsurance offerings, adding these tools to our partnership with CyberCube allows us to further sensitivity test, benchmark and stress test our deals and wider portfolio more easily.

“This enables us to communicate more effectively with all stakeholders, helping us to support our customers with tailored risk transfer solutions and continue to grow and innovate within the market with confidence. CyberCube is providing us with solutions that will further our vision of being the premier manager of reinsurance risk.”

Simon Shreeve, CyberCube principal client account manager, said: “We are thrilled to expand our partnership with the Ariel Re team to enhance the analytics within its decision-making process. Ariel Re is operating with a granular and sophisticated view of risk, taking into account multiple data sources, in-house expertise and new comparative analytics to enable better risk selection and pricing to support its cyber reinsurance growth plans. We are excited to help Ariel drive innovation in the cyber reinsurance industry.”