Deutsche Rück Licences Kovrr’s Financial Cyber Risk Quantification Platform

Deutsche Rück is implementing an innovative approach developed by Kovrr to validate their cyber risk modeling

Kovrr, a cyber risk modeling company, announced that they will collaborate with Deutsche Rück, an international reinsurer and leading reinsurer in Germany, to support Deutsche Rück’s own cyber risk modeling by implementing the Kovrr platform to validate analyses.

“Kovrr’s financial cyber risk quantification solutions are a perfect fit for the reinsurance market and provide risk professionals with new insights to better understand and quantify cyber risk. We’re thrilled to be a part of Deutsche Rück’s cyber insurance journey.”

Kovrr’s solution provides (re)insurers fully optimized models built bottom-up, utilizing data that closely corresponds to risk composition by territory, industry, entity size, and technologies/ services used by insureds, allowing reinsurers the ability to assess their cyber risk exposure, including circumstances where data on the risk composition is limited.

Recommended AI News: Nimbix Announces First Multi-Cloud HPC Platform With Support For Arm

“We’re aware of the challenges of modeling cyber risk,” said Thomas Axer, Head of Central Underwriting Management at Deutsche Rück. “We want to make sure we’re properly accounting for all types of events that may come our way, by validating our own analyses with Kovrr’s support. Kovrr’s platform delivers best in class analytics and unique views of risk which gives us confidence in the insights provided.”

Recommended AI News: Truework Secures Funding From American Express Ventures

Yakir Golan, CEO of Kovrr, said, “Kovrr’s financial cyber risk quantification solutions are a perfect fit for the reinsurance market and provide risk professionals with new insights to better understand and quantify cyber risk. We’re thrilled to be a part of Deutsche Rück’s cyber insurance journey.”

About Kovrr
Kovrr’s cyber risk modeling platform delivers global (re)insurers transparent, data driven insights into their affirmative and non-affirmative cyber risk exposures. The Kovrr platform is designed to help underwriters, exposure managers and catastrophe modelers understand, financially quantify and manage cyber risk by utilizing AI-powered risk models

Recommended AI News: Persona Launches Free Identity Verification Offering