Kovrr empowers P&C insurers to efficiently underwrite cyber risk and sell cyber insurance at scale

Kovrr empowers P&C insurers to efficiently underwrite cyber risk and sell cyber insurance at scale

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on 8 May, 2018

Kovrr, a predictive cyber risk modeling platform empowers P&C insurers to manage the dynamic nature of cyber risk and to underwrite it efficiently. On a daily basis, Israeli Kovrr analyzes millions of emerging cyber threat signals, collected from a wide range of proprietary intelligence sources. Kovrr’s AI engine fuses structured and unstructured data sources into actionable risk insights in real-time. The platform allows Kovrr’s customers to confidently assess, quantify and manage their cyber risk exposures in cyber insurance, while providing their clients preventative risk advices.

Kovrr provides immediate visibility into internal and external cyber risks, to support the underwriting processes of cyber insurance policies. Kovrr is helping insurance professionals to prospect and select risks, to grow their book according to their risk appetite, to manage portfolio risks accumulations, to efficiently distribute cyber insurance policies and to launch innovative insurance products.

The startup has a few paying customers in production environments, proof of concepts done and paid pilots in process. Kovrr is active in Israel, Europe, US and Australia.

How it works
Kovrr equips insurers with advanced cyber risk modeling capabilities, relying on its actionable global threat intelligence stream, advanced machine learning, artificial intelligence and real-time risk modeling. The Kovrr way is to actively validate security controls and exposure matters which allow reducing amount of application questions dramatically. In addition to a broad set of augmenting data which support wiser selection of insureds.

Kovrr helps insurers and reinsurers:

  • Manage Portfolio’s Cyber Exposure
    Kovrr helps insurers and reinsurers to manage their accumulated cyber risks, allowing them to minimize their exposure to emerging cyber threats.
  • Accurate Risk Selection
    Kovrr empowers your underwriting team with a broad set of actively validated cyber risk factors, that can be easily integrated into internal underwriting metrics.
  • Increase Cyber Risk Awareness
    Kovrr enables insurance carriers to educate their customers and to strengthen their cyber awareness through actionable cyber insights, positioning them as trusted cyber risk advisors.  

Why we selected Kovrr for DIA Amsterdam
Cyber risk poses unique opportunities and challenges to insurers. While there is a growing demand for cyber risk coverage, insurers lack tools that can assess the risk exposure. Insurers have to cope with a hyper dynamic risk environment, that has little or no claims track record.

Kovrr enables insurers to stay in sync with the dynamically changing cyber risk landscape.

At DIA Amsterdam Yakir Golan, CEO will showcase the platform.

Who is Kovrr?
Kovrr was founded towards the end on 2016. Kovrr’s founding team spent many years in cyber warfare front lines, where they served in a variety of elite cyber warfare units in the Israeli military, conducting both offensive and defensive operations. After their military service they spend approx. a decade each, focusing on leveraging advanced machine learning and artificial intelligence for cyber defense solutions.

The startup recently announced a partnership with Menora in Israel and is in advanced process to onboard to Accenture’s insurance platform.

“The speed and scope of the rapid changes in the cyber threats landscape create a challenge to Insurers and Reinsurers in assessing their implicit and explicit cyber risk exposure. Kovrr provides its customers immediate visibility into internal and external cyber risks for any size of organization, enabling them informed risk selection and continuous risk exposure management.” Yakir Golan, CEO Kovrr

Yakir Golan, CEO

Website: http://www.kovrr.com

Presenter 1: Yakir Golan
Presenter 2: Avi Bashan

Contact details:
Name: Yakir Golan
Email: yakir@kovrr.com

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