Navacord adopts Cyberwrite’s risk quantification tool

Core Insights - Navacord has integrated Cyberwrite's cyber risk quantification tool to enhance its brokers' capabilities in the cyber insurance sector [1][5] - The partnership aims to provide tools for assessing financial exposure to cyber threats and support decision-making for business leaders [1][2] Group 1: Technology and Tools - Cyberwrite's platform quantifies financial risks associated with cyberattacks and offers insights into risk mitigation strategies [2] - The technology improves risk profiles before the underwriting process, aiding in obtaining suitable insurance policies [2][4] - Navacord's brokers can generate tailored cyber risk reports for management-level executives, helping them understand their insurance needs [3][4] Group 2: Benefits and Applications - The reports assess the probability and potential financial impact of cyber incidents, refining clients' risk management practices [4] - Cyberwrite's AI-driven reports enable brokers to recommend adequate coverage based on each client's unique technological profile [3][5] - The platform provides real-time data analysis and delivers risk reports in multiple languages, operational in over 50 countries [4] Group 3: Strategic Alignment - Cyberwrite's CEO emphasized that the tailored risk reports help clients quantify exposures and obtain necessary policies, contrasting with generic benchmarking information [5] - Navacord's commitment to utilizing AI models for cyber risk quantification aligns with customer needs for real-time, tailored insights [5]