Lockton Re has become the first reinsurance broker in the industry to adopt Exposure Manager (XM), a new product from CyberCube designed to improve how re/insurance companies assess cyber risk and evaluate portfolio health.
This follows a development partnership between the two firms, which provided feedback and insights during the software’s rollout.
CyberCube launched XM earlier this month. The platform is intended to help the re/insurance sector assess the risk quality of cyber portfolios. XM enables reinsurers to underwrite with more data, insurers to audit and refine portfolio strategies, and reinsurance brokers to offer informed advice to clients and partners.
Lockton Re said that its adoption of XM is expected to help the broker benchmark and position client portfolios more efficiently. Oli Brew (pictured above, left), head of Lockton Re’s Cyber Centre of Excellence, said, “XM allows us to dive deeper into the cyber hygiene of client portfolios, identify blind spots, and bring a level of analytical rigor that the cyber market has long needed.”
“XM was built with and for industry leaders like Lockton Re, who are pushing for clarity and control in an increasingly complex cyber risk landscape,” said John Anderson (pictured above, right), senior principal product manager at CyberCube.
Anderson also said that CyberCube is “thrilled to support Lockton Re as it leads the market toward a more transparent, data-centric future in cyber risk and exposure management.”
In addition to its technology partnerships, Lockton Re has expanded its global reach with the launch of a new operation in Dubai. Gerard Monayer was appointed CEO of Lockton Re, MENA, to lead the new office and support the company’s presence in the region.
The firm also enhanced its crisis management practice by naming James Stephens as head of crisis management in London, focusing on lines such as terrorism, political violence, and product recall.
What are your thoughts on this story? Please feel free to share your comments below.
