MILWAUKEE, Oct. 14, 2021 /PRNewswire/ -- Leading insurtech provider, Zywave, today announced the addition of Cyber OverVue to its Analytics Cloud. Originally created by Advisen, one of Zywave's acquired companies, Cyber OverVue produces a holistic view of any organization's cyber risk profile, projects potential cyber loss scenarios and forecasts their consequences.
Ensuring a company has the proper cyber insurance coverage in place is more important than ever before. Zywave's arsenal of proprietary loss data shows rapidly-growing economic loss values associated with cyber risk, including response costs, litigation, fines and penalties, approaching $68 billion in aggregate. Cyber OverVue leverages these 100,000+ cyber loss cases, spanning breaches, phishing, network disruption, ransomware and more. Insurance brokers can now strategically engage insureds about potential cyber exposures and the resulting financial impact an event could have on their business.
"Today's brokers recognize that cyber liabilities and cyber risks are no longer emerging risks; these risks have emerged, and every organization is exposed," said Jeff Cohen, Zywave Senior Vice President. "Cyber OverVue helps brokers audit the cyber coverage needs of any insured by modeling frequency, severity and benchmarking limit adequacy, and to make more accurate coverage recommendations for their clients."
The new Zywave-enhanced release of Cyber OverVue grows cyber risk advising capabilities while also improving user experience by integrating with all of Zywave's capabilities delivered in the Zywave Cloud. A thorough executive summary, improved severity analysis, cyber loss simulations and expanded limit adequacy analyses are all included in this upgrade.
Cyber OverVue incorporates unique algorithms to assess 70 different exposure variables associated with cyber risk. Brokers can employ on-demand analytics to present a full view of a company's possible cyber loss exposure and simulate specific scenarios, enabling them to provide tailored advice about the type and the amount of appropriate cyber insurance.
Since acquiring Advisen in November 2020, Cyber OverVue is the first of many innovative Advisen solutions that Zywave plans to migrate into its cloud platform.
To learn more about Zywave's Analytics Cloud, visit https://www.zywave.com/analytics-cloud/cyberovervue/.
Zywave leads the insurtech industry, fueling business growth for its partners with cloud-based sales management, client delivery, content and analytics solutions. Zywave's all-in-one platform provides customizable, user-friendly options that enable insurance professionals to build a unique solution to fit their specific growth goals—their own Modern RevOps Machine. More than 15,000 carriers, agencies and brokerages worldwide—including all of the top 100 U.S. insurance brokerages—use Zywave solutions to enhance client services, achieve business growth and promote greater health, wellness, risk management and safety. Additional information can be found at www.zywave.com.
View original content to download multimedia: