Cyberwrite

growth-positive

Spanish insurance company MAPFRE has partnered with technology provider Cyberwrite to reduce the risk of cyber-attacks for its clients. Cyberwrite will provide MAPFRE with a cyber insurance risk platform for SME companies, aiming to give a more accurate understanding of the risk at the time of underwriting and renewing its cyber insurance. Cyberwrites AI-powered 4SEEN algorithm offers on-demand, real-time cyber risk analysis, generating multilingual reports with contextual cyber data. This partnership will allow MAPFRE to better understand the risk associated with each company and offer products and services in line with their actual needs.

growth-positive

Cyberwrite, a global provider of AI cyber insurance risk technology, has extended its partnership with specialty insurer HSB. The partnership aims to better leverage data and technology in cyber insurance underwriting and portfolio management. Since 2018, HSB has been using Cyberwrites technology to assess cyber risk for businesses in real time, enabling data-driven underwriting and managing aggregated risk. The technology also provides ongoing monitoring and alerting to insureds. The collaboration is expected to help HSB reduce costs and achieve record-low loss ratios in the cyber insurance market.

growth-positive

Cyberwrite, a provider of AI cyber insurance risk technology and cyber insurance products, has announced the appointment of Hartmut Mai as group president. Mai brings over 25 years of global insurance leadership experience to Cyberwrite, having previously served as the global Chief Underwriting Officer (CUO) and board member at Allianz Global Corporate & Specialty (AGCS). He has also held leadership underwriting roles at AIG and led the launch of the cyber insurance policy of Allianz in Germany in 2013. Cyberwrites patented 4SEEN® algorithm predicts the risk level and potential economic impact of cyberattacks for any business in real-time and on demand.

growth-positive

The FinTech Innovation Lab New York, a program that connects tech startups with financial services and venture capital executives, is entering its ninth year. The program focuses on helping financial services companies solve problems using technology and has seen increased interest from banks over the years. The startups in the program cover a broad range of technology, including artificial intelligence, insurtech, and cloud migration. The program also helps startups learn how to sell their products to large financial institutions. The article highlights some of the startups participating in the program and the challenges they are addressing in the financial industry.

growth-positive

Cyberwrite, a company specializing in AI-based Cyber Risk Profiling technology, helps organizations understand their cyber risk profile and financial exposure to cyber-attacks. The company offers services such as cyber insurance underwriting, vendor risk management, and know-your-customer applications for the banking industry. They use machine learning algorithms to benchmark companies and predict financial losses from cyber incidents. Cyberwrite has been recognized by Gartner as a Cool Vendor and has Fortune 500 customers. The companys CEO, Nir Perry, has a background in cyber risk strategy and digital innovation. The industry of cybersecurity and risk management is expected to grow, with cyber insurance premiums predicted to reach $20 billion by 2025.

growth-positive

Cyberwrite has been included in Gartners Cool Vendors in Insurance report for its cyberrisk profiling technology for cyber insurance. The companys cloud-based SaaS solution provides unique insights to insurers and brokers, enabling them to tailor cyber insurance policies for small and midsized businesses (SMBs). The solution uses machine learning technology to translate raw cyber risk data into risk scores and financial impact estimations. Cyberwrites solution is already being used by some of the worlds largest insurers, with reports run for over 50,000 companies globally. The company aims to address the broad and untailored cyber insurance policies currently offered to SMBs. According to the US National Cyber Security Alliance, 60% of small companies are unable to sustain their businesses six months after a cyber attack. Allianz projects the cyber insurance market to grow to $20B in annual premiums in the next 7 years.

growth-positive

Sompo Holdings, a Japanese insurer, is setting up a financial technology hub in Israel to identify local cybersecurity startups whose products could be marketed in Japan. The rise in cyberattacks has increased the demand for cyber insurance, but insurance companies face challenges in pricing policies and assessing the risk. Israeli startups like Cyberwrite, Cyber Observer, and At-Bay have emerged to simplify the underwriting process and provide risk analysis for insurers. These startups aim to make cyber insurance more transparent and accessible, even for small businesses. Sompo Holdings initiative in Israel reflects the growing importance of cybersecurity in the insurance industry.

growth-positive

CyberWrite, a company dedicated to the development of cyber insurance technologies, is helping insurance companies to underwrite cyber insurance policies for small and medium-sized businesses (SMBs). The companys platform profiles and provides underwriting recommendations for specific clients based on data and limited breach historical data. It also enables an agent to sell a cyber policy by providing an easy to read report that estimates monetary damage in case of an attack or a breach. The company was founded in January 2017 and made a soft launch in December 2017.

growth-positive

The article discusses the importance of cyber security and cyber insurance in Israel. It highlights the rise of cyber-attacks and the need for protection against them. The cyber insurance industry is growing, with the sale of cyber insurance in Israel increasing by 30% year-on-year. However, many publicly traded companies in Israel still lack cyber insurance coverage. Tel Aviv start-up Cyberwrite is developing an underwriting platform for cyber insurance policies. The article also mentions the potential use of blockchain technology in enhancing cyber security. The Israeli government is actively involved in developing cyber defenses and supporting cyber security companies. The article emphasizes the importance of cyber security to the Israeli government and the potential consequences of complacency in this area.