Pascal Millaire CEO CyberCube

CyberCube- A Platform for Profitable Cyber Insurance Growth

With businesses getting incredibly digitized, the risks of cyber-crimes can’t be ignored so easily. Mitigation of such risks is a priority before it terrorizes all the other systems. Cyber-insurance is the perfect solution for all such risks. Cyber-insurance will help you manage the risks in an efficient way. 

Led by Pascal Millaire, CyberCube is a data-driven risk analytics platform built for the insurance industry.  CyberCube is a Software-as-a-Service (SaaS) technology company, with a strong pedigree in cybersecurity and technology and deep expertise in insurance. Born out of cybersecurity specialist, Symantec, CyberCube has strong financial backing and governance from cybersecurity and insurtech specialist investors and is positioned to build the leading platform for powering profitable cyber insurance growth.

The combined power of CyberCube’s unique data, multi-disciplinary analytics and cloud-based technology help with insurance placement, underwriting selection and portfolio management optimization. Their deep bench of experts from data science, security, threat intelligence, actuarial science, software engineering and insurance helps the global insurance industry by selecting the best sources of data and curating it into data sets to identify trustworthy early indicators of risks and build a forward-looking view of them.

Our mission is to deliver the world’s leading cyber risk analytics for the insurance industry. We enable society to make better decisions about which digital risks to avoid, mitigate or insure as internet-connected technologies change the nature of risk in the 21st century.

The Successful Journey of Risk Mitigation 

CyberCube’s innovative data and analytics have enabled clients to confidently build insurance product solutions to solve the risk challenges that an internet-connected society poses. CyberCube is working with the insurance industry to help build a viable, long-term market for digital risks. CyberCube believes there is huge potential to help (re)insurers to dissolve internal silos, connect with ecosystem players and innovate. 

The news in November 2019 that CyberCube secured $35 million in additional Series B capital funding led by HSCM Bermuda and existing investor ForgePoint Capital opens new potential avenues of innovation. Venture capitalist MTech Capital and individuals from Stone Point Capital invested a further $5 million in CyberCube early this year to help CyberCube accelerate its role as the market-leading cyber risk analytics company serving the insurance industry.

CyberCube has been recognized as a Technology Pioneer by the World Economic Forum. Past recipients include Airbnb, Google, Kickstarter, Mozilla, Palantir Technologies, Spotify, TransferWise, Twitter and Wikimedia. The World Economic Forum states that it sees great potential for these next-generation companies to shape solutions to global challenges and improve society for years to come. According to the Forum’s website, Tech Pioneers are emerging innovators from a diverse set of industries. These firms are shaping the future by advancing technologies such as AI, IoT, robotics, Blockchain, biotechnology and many more.

The Products and Services-

CyberCube offers three main product areas, which are supported by a deep well of cyber expertise and support services. These are:

1. Portfolio Manager – advisory for reinsurance brokers and reinsurers

A digital society carries the risk of a major attack on a core digital asset that causes a systemic, catastrophic financial loss across geographical boundaries and industries. Cyber risk is a dynamic, man-made peril that is evolving rapidly. The motivations of cyber attackers, their methods and the technical vulnerabilities they exploit are constantly in flux. 

Developing a robust, forward-looking view of risk is a complex and resource-intensive task. CyberCube’s Portfolio Manager is a financial model that enables insurers to quantify the total maximum loss their insurance portfolio might be exposed to in the event of a systemic cyber attack.

2. Account Manager – cyber underwriting tool for insurers

For insurance companies, how can they select the most secure organizations to insure, that present the least risk of financial loss from a cyber attack? How can an insurer collect meaningful risk indicators that allow them to assess an organization’s risk posture at a glance?

We help the cyber insurance market to grow profitably through the use of our world-leading cyber risk analytics.

Account Manager combines a large number of data sources and applies specialized analytics to produce targeted information to help underwriters. With this product, every underwriter has instant access to reports on millions of companies, globally.

3. Broking Manager – developing deeper insights on cyber risk transfer

Insurance brokers act as a trusted risk advisor to organizations. Brokers need to be able to educate prospects and clients while demonstrating that they understand their needs and exposure. Having comprehensive data-driven created through Broking Manager can aid a broker in having informed, more effective conversations. 

Broking Manager allows for instant reports to be created with minimal inputs. These reports can be quickly created and further tailored based on additional information. 

The Team-

Cyber is a complex issue to solve, and CyberCube has therefore focused on building a diverse team with a breadth of experience to solve those problems. The team demonstrates this broad reach and is composed of multi-disciplinary professionals across data science, cyber security, artificial intelligence, software engineering, actuarial modeling, commercial insurance, economics, media and strategy. CyberCube’s deep bench of cybersecurity and insurance experts select the best sources of data and turns them into early indicators of risk that decision-makers can trust. Diversity of views is important in cyber risk. 

The CyberCube Leadership team is made up of industry experts from diverse backgrounds, bringing years of experience to our fast-growing company. They embody CyberCube’s core values and work tirelessly to help the team scale, grow, and succeed. 

We’re a diverse, passionate, and fast-growing team on a mission to deliver the world’s leading cyber risk analytics platform.

The team tackles some of the most complex and important challenges facing the global insurance industry so they have nurtured a supportive and respectful environment, which increases the participation and contribution of all employees, with personal development and inclusion being priorities.

What Their Clients Have to Say

More market-leading institutions are benefiting from CyberCube analytics with named client companies to date including Munich Re, Chubb, CNA Financial, Guy Carpenter, Aon, Scor, Hiscox,  Woodruff Sawyer and M&T Insurance Agency. The cyber threat now straddles multiple specialty insurance classes and the clients they serve across sectors such as aerospace, marine, energy, financial lines, entertainment and healthcare. 

“Partnering with CyberCube to access its modelling tools, data, and specialists perfectly complements the internal expertise and capability we have developed over the past few years.” Robert Caton, Director of Underwriting Risk at Hiscox “Our collaboration with CyberCube enhances our multi-model approach, which enables insurers to more accurately quantify aggregation in their portfolio for more informed underwriting, while helping customers to understand their own cyber exposures.” Catherine Mulligan. Global Head of Cyber, Reinsurance Solutions Group, Aon


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