US-based Insurance brokerage Woodruff Sawyer has partnered with CyberCube to become one of the first organisations to leverage CyberCube’s “Broking Manager” in its insurance advisory services.
Woodruff Sawyer, a 100-year-old insurance broker headquartered in San Francisco, advises clients on business risks and risk mitigation in the areas of cyber liability, management liability, property and casualty and employee benefits.
Broking Manager is the first software-as-a-service application CyberCube has built specifically for the insurance broking community, and offers a stream-lined approach to generating the financial exposure impact that helps clients make informed decisions on coverages and limits.
Recent and relevant cyber events
Broking Manager allows Woodruff Sawyer to quantify and explain to their clients, both large and small, the sources and financial impact of cyber risk exposure. The platform also produces reports that can be used to educate prospects and clients on potential sources of loss, recent and relevant cyber events, and peer-to-peer benchmarking.
Oren Schetrit, Director of Product for CyberCube, said: “We’re thrilled to have partnered with Woodruff Sawyer through our beta program, and that Woodruff Sawyer has chosen to use our platform going forward. Brokers have a key role to play in helping companies manage their financial exposure to cyber risk; and we’re confident Broking Manager will help accomplish this.”
“Woodruff Sawyer has been an exemplary partner and thought leader in terms of understanding cyber threats and the risks they pose to enterprises. Working together, we’ve ensured that our product meets their enterprise client needs, while focusing on efficient brokerage workflows. We look forward to helping Woodruff Sawyer leverage our platform to quantify cyber risk exposure and facilitate informed insurance buying decisions.”
Quantifying clients’ cyber risk
Dan Burke, Partner and National Cyber Practice Leader for Woodruff Sawyer added: “CyberCube’s ‘Broking Manager’ is changing how Woodruff Sawyer approaches our clients’ cyber liability needs. The platform quickly and easily models and quantifies our clients’ cyber risk. As a result, we’re able to have thoughtful conversations about a client’s risk appetite and the appropriate level of insurance they require.”
Broking Manager complements CyberCube’s two existing products: Portfolio Manager and Account Manager, which are designed for risk carriers and are used by companies across the insurance ecosystem.