Insurers to Benefit From Streamlined Underwriting and Risk Evaluation as CyberCube Partners with Duck Creek Technologies

Rhea-AI Summary

CyberCube has partnered with Duck Creek Technologies to enhance the underwriting process for cyber insurance through the integration of CyberCube’s Risk Scoring Analytics API into Duck Creek Policy. This partnership aims to automate risk evaluation, allowing underwriters to receive early indicators on cyber vulnerabilities, thereby improving efficiency and decision-making. The integration is expected to provide comprehensive insights into clients' cyber exposures, essential for effective risk assessment.

Positive

• Integration of CyberCube's Risk Scoring API into Duck Creek Policy enhances underwriting efficiency.
• Automated risk scanning helps identify cyber vulnerabilities early in the underwriting process.
• Partnership positions Duck Creek as a leader in cyber insurance underwriting technology.

Negative

• None.

The integration of CyberCube’s Security Score, CyberCube’s Exposure Scores and Duck Creek’s Policy platform will enable automated cyber risk evaluation

SAN FRANCISCO--(BUSINESS WIRE)-- Cyber risk analytics specialist CyberCube announced today that it has partnered with Duck Creek Technologies (Nasdaq: DCT), a leading provider of software as a service (SaaS) insurance core systems, to streamline the underwriting of cyber insurance policies.

The partnership will see the integration of CyberCube’s Risk Scoring Analytics application programming interface (API) into Duck Creek Policy, the award-winning underwriting platform. This means that risks input into Duck Creek Policy will automatically be scanned and scored by CyberCube. The offering automates the flagging and referring of risks that require review, streamlining the underwriting process, increasing efficiency, and improving the ability to identify cyber vulnerabilities.

CyberCube’s Ross Wirth, Head of Client Account Management and Technology Services, said: “This new partnership with Duck Creek will bring tangible benefits to the users of Duck Creek’s policy underwriting platform. Prior to the integration, underwriters were making decisions without access to key cyber metrics. They may have missed key flags and would have had to rely solely on external research during the underwriting process. Now, that’s changing. CyberCube’s risk scoring API will act as an early indicator to assist in the underwriting process. Ultimately, underwriters will gain a more complete view of a client’s cyber exposures and vulnerabilities early in the underwriting process so that they can respond accordingly.”

CyberCube is a leading provider of cyber risks analytics to the global insurance industry. Insurers, reinsurers and brokers use CyberCube’s products to gain a greater understanding of their exposure to cyber risk and to assess clients for underwriting purposes. CyberCube’s products also allow risk carriers to stress test their portfolios of risk against modeled systemic cyber events.

Duck Creek Policy enables P&C carriers to deliver insurance products at scale in an era of rapid, customer-centric innovation and growth. The Policy product supports the full insurance policy lifecycle process with automation and workflow management capabilities, an integrated development environment for insurance products, and pre-built content. Using low-code tools and delivered through a software-as-a-service (SaaS) model, carriers can go to market faster, increase operational efficiencies, and improve customer satisfaction.

“Data-enhanced underwriting is a modern risk-selection requirement to effectively and appropriately analyze cybersecurity risks,” said Robert Fletcher, Head of Global Solution Partnerships of Duck Creek Technologies. “With CyberCube, we are bringing better business and underwriting intelligence into Duck Creek Policy, ensuring carriers who underwrite cyber risk have a centralized source of actionable data.”

About CyberCube

CyberCube delivers the world’s leading cyber risk analytics for the insurance industry. With best-in-class data access and advanced multi-disciplinary analytics, the company’s cloud-based platform helps insurance organizations make better decisions when placing insurance, underwriting cyber risk and managing cyber risk aggregation. CyberCube’s enterprise intelligence layer provides insights on millions of companies globally and includes modeling on thousands of points of technology failure.

The CyberCube platform was established in 2015 within Symantec and now operates as a standalone company exclusively focused on the insurance industry, with access to an unparalleled ecosystem of data partners and backing from ForgePoint Capital, HSCM Bermuda, MTech Capital and individuals from Stone Point Capital. For more information, please visit www.cybcube.com or email info@cybcube.com.

About Duck Creek Technologies

Duck Creek Technologies (Nasdaq: DCT) is a leading provider of core system solutions to the P&C and general insurance industry. By accessing Duck Creek OnDemand, the company’s enterprise software-as-a-service solution, insurance carriers are able to navigate uncertainty and capture market opportunities faster than their competitors. Duck Creek’s functionally-rich solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. For more information, visit www.duckcreek.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220228005481/en/

CyberCube Media Contact:

Yvette Essen

yvettee@cybcube.com

Duck Creek Technologies Media Contact:

Carley Bunch

carley.bunch@duckcreek.com

Source: CyberCube

FAQ

What is the partnership between CyberCube and Duck Creek Technologies about?

The partnership aims to integrate CyberCube’s Risk Scoring Analytics API into Duck Creek’s underwriting platform to streamline cyber insurance policy assessments.

How will the integration of CyberCube’s API benefit Duck Creek Technologies?

It will automate the risk evaluation process, allowing for early identification of cyber vulnerabilities and improving overall underwriting efficiency.

What is the impact of the CyberCube and Duck Creek partnership on cyber insurance?

The partnership enhances cyber risk analytics for underwriters, enabling better decision-making and more effective assessments of cyber exposures.

When was the partnership between CyberCube and Duck Creek announced?

The partnership was announced on February 28, 2022.

What are Duck Creek’s offerings related to the partnership?

Duck Creek offers a comprehensive policy management platform that now incorporates CyberCube’s risk scoring capabilities to improve underwriting procedures.