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Relm Insurance Announces Strategic Partnership With CyberCube

SAN FRANCISCO–(BUSINESS THREAD)–Relm Insurance Ltd. (Relm), a market-leading specialty insurance company serving emerging industries, has entered into a strategic partnership with renowned cyber risk analytics firm CyberCube to strengthen its cyber underwriting business with advanced analytics, artificial intelligence and advanced risk modeling and assessment capabilities.

Launched in 2019 as the first commercial insurer licensed under the Bermuda Monetary Authority’s “Innovative Insurer General Business” (Class IIGB) regulatory framework, Relm works with a global distribution network of brokers to develop insurance solutions for businesses and institutions working at the forefront of emerging business. industries, with a focus on digital assets/Web3.0, cannabis and psychedelics.

Relm will use CyberCube’s sophisticated technology platforms, including Account Manager and Portfolio Manager, to improve underwriting decision-making with industry-specific threat risk scores, financial loss frameworks and real-time data and insights.

Sean Omar, CyberCube’s Sales Manager – Americas, said: “This partnership with Relm demonstrates that we continue to broaden our reach into other, non-traditional insurance markets. This will allow us to further demonstrate that our data accuracy, methodology and expert staff can be effectively leveraged to help create a profitable framework regardless of industry. By licensing our products, Relm positions itself for rapid success as it rolls out more in-depth risk selection protocols.”

Donavan Burgess, Relm Senior Vice President – Digital Assets, Cyber ​​​​& Professional Lines, said: “The advent of cryptocurrency and the use of blockchain technology has created a new set of cyber exposures. CyberCube’s mix of data, actionable insights , team of experts and footprint across the insurance value chain will provide us with the best springboard to grow our business over the coming years.”

Portfolio Manager is a scenario-based, data-driven model that enables risk professionals to develop insights for their senior leadership and underwriting teams. It also allows stress testing of portfolios of insurance risk so that loss drivers and areas of accumulation risk can be identified.

Account Manager is designed for risk carriers and is used by leading companies across the insurance ecosystem. This enables underwriters to make efficient, data-driven risk selection decisions.


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