JLT RE PARTNERS WITH CORAX, EXPANDING CAPABILTIES FOR MODELLING CYBER RISK
18 July 2018
- JLT Re continues to provide insight into Cyber risk through new program innovation and investment
- JLT Re will provide new resources to enable clients to make better informed cyber risk decisions
JLT Re, the global provider of reinsurance broking and consultancy, is pleased to announce its partnership with Corax, an international cyber risk analytics platform for the insurance sector. JLT Re’s existing expansive modelling capabilities, supplemented by Corax’s creative and versatile data and modelling engine, bring both vital cyber modelling insights and resources to JLT Re clients.
“The resources Corax provides in combination with our own modelling capabilities offers a new way of looking at cyber coverage that will change the way our clients operate in this area. We are thrilled to offer more insights to our clients actively working to identify and manage their cyber risk exposures,” commented David Flandro, Global Head of Analytics for JLT Re.
This partnership highlights JLT Re’s dedication to the growing area of cyber insurance, which has been expanding by more than 20% each year. Corax offers an innovative risk management and aggregation tool by leveraging a unique vector-based vulnerability model, bringing customised solutions to help JLT Re clients manage their cyber strategy and exposure.
“JLT Re is a top tier reinsurance broker, so we are delighted to be selected to help them expand their capabilities for modelling cyber risk, and in turn provide their clients with greater confidence and insight into cyber exposure,” remarked Jonathan Pope, CEO of Corax.
Global CEO of JLT Re, Michael Reynolds, said, “JLT Re is a client first organisation and we are constantly looking for ways to help our clients manage their business and reach their goals. Our partnership with Corax allows us to expand our capabilities within a quickly growing area of the industry, thus giving our clients the ability to grow and transform their cyber policies with more confidence.”
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NOTES TO EDITORS:
About JLT Re
JLT Re is the world’s fourth largest reinsurance broker, with approximately 800 professionals across 38 locations in 18 countries, delivering world class risk analysis and risk transfer solutions.
Our deep specialist knowledge and extensive experience of both the reinsurance market and clients’ own industry sectors enables JLT Re to deliver innovative solutions tailored to meet client needs.
We provide clients with broking and consultancy services across all classes of treaty and facultative reinsurance, including aviation, marine & energy, terrorism & political risk, trade credit, life accident and health, cyber, workers compensation and structured products.
JLT Re has a proven capability to provide a range of advisory and capital markets services specifically to insurance industry clients on a global scale.
Our ground breaking proprietary modelling tools and market leading analytical capabilities and personnel enable us to bring analytical rigour and a unique perspective to clients.
JLT Re is a trading name of various JLT reinsurance broking entities and divisions globally and any services provided to clients by JLT Re may be through one or more of JLT’s regulated businesses.
JLT Re is part of the Jardine Lloyd Thompson Group plc. www.JLTRe.com
Corax is a cyber risk analytics platform that helps brokers, underwriters and their reinsurance counterparts sell more cyber insurance. Corax uses data science, Machine Learning and advanced risk analytics to discover cyber exposure and underwriting insight. From brokers, to underwriters, to re-insurers, Corax is focused on the entire insurance value chain, making lead generation, risk selection, pricing, cyber hygiene, scoring, exposure management and scenario modelling simple and effective.
About Jardine Lloyd Thompson
Jardine Lloyd Thompson is one of the world’s leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. JLT’s client proposition is built upon its deep specialist knowledge, client advocacy, tailored advice and service excellence.
JLT is quoted on the London Stock Exchange and owns offices in more than 40 territories with over 10,000 employees.
Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries. For further information about JLT, please visit our website www.jlt.com and follow us on LinkedIn at JLT Group and Twitter @JLTGroup.
For further information about JLT, please visit our website rel="noopener noreferrer" www.jlt.com.