Lockton Re selects KOVRR'S financial cyber risk quantification platform to support cyber risk exposure modeling capability

NEW YORK, xxth February, 2020 Lockton Re, the global reinsurance business of the world’s largest privately held independent insurance broker,have licensed Kovrr’s cyber risk model as they continue to push the reinsurance industry forward with smarter solutions that leverage new technologies.

“Kovrr’s model gives us increased confidence in our results because of the exceptional firmographic data enrichment capabilities and their cyber data curation platform which combines diverse cybersecurity vendor’s data. This allows for significantly better cyber risk pricing. This is a critical asset for Lockton Re for advising our clients on the most cost effective risk transfer mechanisms in the market. We are constantly looking at how we can enhance Lockton Re SAGE, our proprietary reinsurance analytics platform, and broader analytics offering to benefit clients, ” said Adam Braithwaite, Senior Reinsurance Actuary, Lockton Re.

Kovrr’s portfolio exposure management solution has been chosen as part of Lockton Re’s multi- model vendor approach to support Lockton Re’s cyber risk initiatives. The Kovrr portfolio exposure management solution leverages a diverse set of data sources, from multiple cybersecurity vendors alongside open-source datasets and proprietary data curation engines. Kovrr’s unique data combined with its proprietary impact based modeling framework, will assist Lockton Re in reinsurance pricing and providing advanced risk diversification insights to their clients.

“Kovrr’s models provide Lockton Re with a unique view of risk and is a substantial contribution to their cyber insurance risk consulting practice.” said Kurt Jackson, VP Sales North America, Kovrr. “It’s a pleasure to work with a forward thinking broker like Lockton Re, a true leader in adopting next generation technology.”