Corax, the world’s leading and largest source of cyber exposure data and loss analytics for insurance, is pleased to announce its newest customer QBE European Operations. QBE will use the Corax platform to underwrite and manage cyber risk exposure with increased accuracy.
CEO of Corax, Jonathan Pope, said “Carriers want more transparency, they are increasingly looking for the depth of data on individual organisations and the granularity that Corax specialises in. Our rich data foundation is the world’s largest detailed unique dataset of companies modelled for cyber and we’re delighted that QBE has chosen us as the cutting edge vendor of detailed cyber data and analytics”.
Erica Constance, Cyber Portfolio Manager at QBE adds “In the nascent cyber market we value data sources that supplement our underwriting. The Corax platform help us assess the overall exposure of a risk to the QBE portfolio and enables us to provide a more stable and consistent product to our customers.”
Corax has experienced rapid market adoption since becoming commercially available to the insurance industry in late 2017. It now has over 200 users worldwide, including reinsurers, insurers, MGAs, wholesale and retail brokers.