Markets/Coverages: Reinsurance MGA Envelop Risk Launches Program to Aid Cedents’ Entry Into Cyber

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Envelop Risk, the UK-based cyber re/insurance and analytics specialist, announced the launch of a program for cedents that want to enter the cyber risk market or expand their existing participation.

The initiative, called Cyber Partnership Platforms, is designed to enable cedents to grasp the opportunity cyber presents in a controlled, scalable and profitable way.

It will be led by Co-Founder Jonathan Spry and Executive Vice President Simon Welton and will make Envelop’s leading underwriting, insight and data analytics available to partners, enabling them to develop enhanced levels of sophistication in managing cyber risk.

Benefits include access to:

Customizable cyber insurance using Envelop’s analytics and modular wordings
A-rated reinsurance capacity
Claims handling and incident response support
Bespoke treaty structuring
Pricing models
Underwriting tools
Advisory services – threat intelligence and portfolio analysis

The initiative is also designed to provide a host of benefits for partners’ customers.

“We are looking to add considerable value to our long-term partnerships, through this initiative. Envelop has the proven data, tech, knowledge and expertise to help cedents either enter the cyber market or scale their existing cyber business more easily,” Spry said.

“We can also assist with capital management and our engagement with Lloyd’s is continuing to grow. This initiative extends and is very much part of our mission to transform how the insurance industry quantifies and manages cyber risk by thinking like an intelligence agency and deploying the best available technology thoughtfully.”

About Envelop Risk

Envelop Risk was founded in 2016 as an insurtech and managing general agent. The company aims to transform how the reinsurance industry quantifies and manages cyber risk: to think like an intelligence agency, leverage the best available technology and deploy capital thoughtfully. The company is headquartered in Bristol, UK, and has offices in London, Bermuda, and San Francisco.

Source: Envelop Risk