SCOR expands Baobab cyber capacity via Lloyd’s

Group 1 - SCOR has partnered with Baobab Insurance to enhance underwriting support for CyberSafe policies in Germany and Austria, expanding eligibility to companies with up to €1 billion in annual revenue [1][5] - The partnership is part of SCOR's strategy to build its cyber portfolio in Europe, particularly targeting industrial clients [2][3] - Baobab's data-driven underwriting model focuses on risk evaluation and prevention, utilizing a proprietary Deep Scan system that generates larger datasets for improved risk-based pricing [3][4] Group 2 - Baobab provides clients with real-time vulnerability alerts, which have reportedly helped prevent losses amounting to several million euros and maintain a loss ratio below market levels [4] - The partnership signifies a major milestone for Baobab, allowing it to extend its underwriting authority to larger companies, demonstrating the effectiveness of its digital risk assessment approach [6] - Earlier, SCOR and AXA formed a consortium at Lloyd's of London aimed at supporting investments in ecological restoration by addressing insurance gaps [6][7]