Kovrr360 Pricing

Create a vendor selection project & run comparison reports
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.

Overview

As technology evolves, it introduces new risks and challenges for P&C insurers. One of these new and daunting risks includes navigating the world of cyber, a landscape filled with continuously changing and developing threats with various threat actors waiting to strike their next victim. While traditional underwriting processes rely on historical data, actuarial models and rating measures, insurance professionals lack access to tools for quantifying exposures related to cyber risk. Insurers need to cope with a world of limited claims data and evolving threats, making it difficult to identify, quantify and manage cyber exposures.

Kovrr monitors millions of ongoing incidents in real-time. The platform uses public, open-source, proprietary and third-party data to build advanced AI machine learning engines to create risk scenario models from cyber incidents, intelligence exposure data and claims incidents data. Kovrr provides insurance professionals unique visibility into its modeling methodologies and the underlining data. Kovrr's transparent modeling allows insurers to build and empower internal underwriting teams with valuable cyber risk knowledge.

Key Features

Prospect and strategically plan pricing and target segments. Insurers can make educated pricing decisions based on high-powered, targeted data to pinpoint profitable policies. With continuous monitoring of their end clients cyber posture, insurers can offer adaptive policies and pricing based on the evolving risk of a business.

Key Benefits

  1. Quantify cyber risk for new policies and stay aligned to risk appetite
  2. Prospect and strategically plan pricing and target segments based on the understanding of loss distributions
  3. Shorten the questionnaire and onboarding process while increasing visibility to relevant risk scenarios
  4. Offer adjusted prices based on a customer’s cyber stature
  5. Diversify and manage risk within existing portfolios
  6. Communicate critical security gaps and recommendations to potential insurees to reduce risk exposure

Product/Service details

Geographic Availability
Asia-Pacific, Caribbean, Central America, Europe, Middle East, North America, South America