New York, NY - October 6, 2022 - Relay Platform (Relay), an innovative provider of solutions that enable the digital transformation of commercial insurance submissions, is pleased to announce a partnership with the world’s leading cyber risk analytics platform — CyberCube.
Relay equips clients with a turnkey solution to intake, submit and compare quotes digitally. The quotes are then presented in a dynamic Smart Client Proposal™️ which enables agents and brokers to convert more business. Working to consolidate placements with digital-forward carriers, Relay combines API, manual and email quotes while providing advanced analytics to improve renewal rates.
CyberCube, a cyber security analytics platform, automatically provides crucial information for named insureds to understand the level of impact cyber security has in one's organization, including: individualized assessment of the level of cyber security risk; estimated impact from common cyber security attacks; and the ability to determine benchmark insurance limits and deductibles. This information also helps brokers and agents explain the level and types of cyber insurance coverage the client needs by displaying objective data and industry benchmarks tailored to each individual client.
Andrew Lukas, CyberCube Senior Client Account Manager, said: "The inclusion of CyberCube's Broking Manager reports in the Relay platform enables brokers and their clients to seamlessly compare their financial exposure to cyber events against the limits they are being proposed. CyberCube is excited to partner with Relay to provide cyber risk clarity to the SME market."
The newly minted partnership allows brokers and agents who use Relay to gain access to the in-depth CyberCube cyber insurance report directly within the Relay system while they obtain quotes. When a broker or agent selects CyberCube, Relay also automatically includes the CyberCube reports in auto-generated, instant Smart Client Proposal™️. The seamless integration between Relay and CyberCube helps eliminate the need to re-enter information across systems and ensures that all client proposals can include the CyberCube reports without any additional effort. Brokers and agents need to be a CyberCube CyberConnect client for the integration to work.
“With the addition of the CyberCube cyber insurance report, the Relay Smart Client Proposal™️ not only allows the broker or agent to further demonstrate their expertise in cyber insurance, but also creates additional material to assert the importance of cyber insurance and help close more business,” comments Edmund Lo, Head of Product & Engineering at Relay Platform.
ENDS
About Relay
Relay is built for both modern and traditional brokers and agents. It equips them with a friendly interface to easily add specialty lines to their client proposals. Relay lets agencies and brokerage quickly add Cyber Insurance to any quote, and also supports Management Liability and Small Commercial/BOP. Forward-looking agencies and brokerages in North America use Relay to place more business, faster and better.
Visit www.relayplatform.com for more information.
About CyberCube
CyberCube delivers the world’s leading analytics to quantify cyber risk for the insurance industry. With best-in-class data access and advanced multi-disciplinary analytics, the company’s cloud-based platform helps insurance organizations make better decisions when placing insurance, underwriting cyber risk and managing cyber risk aggregation. CyberCube’s enterprise intelligence layer provides insights on millions of companies globally and includes modeling on thousands of points of technology failure.
The CyberCube platform was established in 2015 within Symantec and now operates as a standalone company exclusively focused on the insurance industry, with access to an unparalleled ecosystem of data partners and backing from ForgePoint Capital, HSCM Bermuda, MTech Capital and individuals from Stone Point Capital. For more information, please visit www.cybcube.com or email info@cybcube.com.
