Majesco, a provider of cloud insurance software solutions for insurance business transformation, has partnered with CyberCube to support growing demand for cyber insurance products.
CyberCube is a global provider of solutions for cyber insurance risk modelling, rating and underwriting.
Together, the platforms will provide an on-demand Software as a Service (SaaS) solution using CyberCube’s platform and Majesco’s Policy for P&C to integrate expanded sources of data, signals and models during the risk modelling, rating, and underwriting process for cyber insurance. It will also be utilised for cyber risks bundled with other offerings such as Business Owner’s Policy (BOP).
Majesco’s recent SMB research reflects how SMBs have rapidly adapted to new business strategies and digital models, creating an increased need for cyber insurance with over 85% indicating a need for automated monitoring and alerts to potential security incidents.
Ed Ossie, chief operating officer of Majesco, said, “The partnership with CyberCube brings together two leading solutions to meet the growing complexity and demands of cyber (re)insurance which is seeing increased market demand and profitability challenges.
“The combined innovative capabilities and access within our EcoExchange makes it available to anyone immediately, creating speed and agility to adapt to the changing cyber insurance market. We look forward to an exciting partnership that delivers market-leading capabilities for all our customers focused on the cyber line of business.”
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