At-Bay Selects Guidewire Cyence to Enhance Cyber Portfolio Accumulation Risk Management and Further Propel Market Growth

Rhea-AI Summary

Guidewire (NYSE: GWRE) has partnered with At-Bay to enhance its cyber insurance offerings through the integration of Guidewire’s Cyence product. This collaboration aims to improve At-Bay’s management of aggregation risk within its cyber portfolio. At-Bay emphasizes the importance of monitoring and managing cyber risk aggregation to ensure robust performance as it expands. Guidewire’s advanced risk models will aid At-Bay in optimizing its underwriting and risk management decisions, enhancing clarity and confidence for businesses facing digital threats.

Positive

• At-Bay integrates Guidewire's Cyence for improved cyber risk management.
• Enhanced data capabilities will bolster underwriting and portfolio management decisions.
• Collaboration aims to maintain strong loss performance as At-Bay's portfolio grows.

Negative

• None.

SAN FRANCISCO & SAN MATEO, Calif.--(BUSINESS WIRE)-- At-Bay, the insurance provider for the digital age, and Guidewire (NYSE: GWRE) today announced that At-Bay has chosen Guidewire’s cyber risk modeling and analytics product, Cyence, to further bolster its view, and management of, aggregation risk, within its growing cyber insurance portfolio.

“Cyber risk aggregation is an important area of risk that every insurer should be actively monitoring and managing within their cyber portfolio. Investing in the right data capabilities, tools, and mechanisms for monitoring and sizing aggregation risk exposure is critical to managing cyber insurance risk in today’s fast changing threat landscape,” said Roman Itskovich, At-Bay’s Chief Risk Officer and Co-Founder.

“With At-Bay’s steadfast focus on proactive risk management, Guidewire’s solution will help us to expand our data capabilities and toolkit for proactive risk management, so that we can continue to deliver great loss results,” Itskovich added.

By combining world-class technology with industry-leading insurance expertise, At-Bay aims to provide the clarity and confidence that businesses need to address digital risk head on. Founded in 2016, At-Bay protects tens of thousands of business customers from today’s ever growing cyber threat landscape. With its in-house data collection capabilities aimed at addressing attritional risk in the selection, pricing, and active risk management of its portfolio, At-Bay will now expand its focus to aggregated risk exposures.

“We selected Guidewire because it has a strong reputation for being one of the top cyber risk vendors, especially for transparency, in-house data collection, and market validation,” said Yoshifumi Yamamoto, Director of Cyber Risk Modeling, At-Bay. “By applying Cyence’s advanced risk models and detailed aggregated risk scenarios to our own active risk monitoring capabilities and claims experience, we believe that we will be able to further enhance our underwriting and portfolio risk management decisions, and maintain a strong loss performance as our book grows.”

Commenting on the news, Charles Clarke, Group Vice President, Analytics Sales & Advisory, Guidewire, said, “We admire At-Bay’s use of Cyence to expand its modeling capabilities to account for aggregated risk. We are pleased by their vote of confidence in our cyber capabilities and look forward to infusing data analytics to help At-Bay’s clients meet digital risk head-on.”

About At-Bay, Inc.

At-Bay is the insurance provider for the digital age. By combining world-class technology with industry-leading insurance expertise, At-Bay was designed from the ground up to empower businesses to thrive in the digital world. At-Bay is backed by Acrew Capital, Glilot Capital, the HSB fund of Munich Re Ventures, Icon Ventures, ION Crossover Partners, Khosla Ventures, Lightspeed Venture Partners, M12, entrepreneur Shlomo Kramer, and Qumra Capital. www.at-bay.com

About Guidewire Software

Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. ​We combine digital, core, analytics, and AI to deliver our platform as a cloud service. Approximately 520 insurers in 38 countries, from new ventures to the largest and most complex in the world, run on Guidewire.

As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,000+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.

For more information, please visit www.guidewire.com and follow us on Twitter and LinkedIn.

NOTE: For information about Guidewire’s trademarks, visit https://www.guidewire.com/legal-notices.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220916005080/en/

Diana Stott

Director, Communications

Guidewire Software, Inc.

+1 650.781.9955

dstott@guidewire.com

Jackie Gray

Communications Manager

At-Bay, Inc.

jackieg@at-bay.com

Source: Guidewire Software, Inc.

FAQ

What is the partnership between Guidewire and At-Bay about?

Guidewire has partnered with At-Bay to enhance its cyber insurance offerings through the integration of Guidewire’s Cyence product.

What does the Cyence product do?

Cyence is designed to improve modeling and analytics for managing cyber risk aggregation.

What is the risk management focus for At-Bay?

At-Bay is focusing on managing aggregation risk within its cyber insurance portfolio.

How will this partnership benefit At-Bay's clients?

The partnership aims to provide better risk management tools, improving clarity and confidence for businesses facing digital risks.

When was this partnership announced?

The partnership was announced in a press release dated September 16, 2022.