Measured Insurance Partners with Canopius and Long-time Backer SCOR to Expand Critical Cyber Insurance Solutions for Small and Midsize Businesses in the U.S.
Measured positioned for profitable growth with expanded capacity and strategic partnerships
SALT LAKE CITY, June 21, 2023 /PRNewswire/ -- Canopius, the global specialty lines (re)insurer, and Measured Analytics and Insurance ("Measured"), the AI-powered cyber insurance provider, today announced a new capacity partnership to offer cyber insurance and cybersecurity solutions to small and midsize businesses ("SMBs") in the United States. Canopius joins Paris-based SCOR, one of the world's leading reinsurers, which has been a long-standing lead capacity provider for Measured's strategic growth.
The new partnership will combine Canopius' and SCOR's cyber expertise and global reach with Measured's innovative approach to cyber risk management.
"We are thrilled to announce our partnership with Measured Analytics and Insurance, as it marks a step forward in our mission to provide comprehensive cyber insurance solutions to small and midsize businesses across the United States," said Jenny Soubra, US Head of Cyber and Tech E&O at Canopius. "When combined with Canopius' and SCOR's expertise, together we are equipped to deliver unparalleled cyber protection to customers. Measured's innovative approach to cyber risk management aligns seamlessly with our capabilities, resulting in a strategic partnership positioned to drive transformative change."
Global insurers seeking growth with discipline in cyber insurance demand analytic rigor, technology expertise, and dynamic risk insight across the underwriting value chain. Measured's solutions leverage artificial intelligence, proprietary threat insights and behind the firewall data to identify security threats and reduce businesses' potential exposure. For insurers, this creates a better customer experience and manages risk and profitability.
"Best in class underwriting coupled with differentiated scalable distribution are the key capabilities for strong profitable growth in the cyber insurance market," said Benjamin Auray, Chief Underwriting Officer - Global Head of MGA at SCOR. "We believe Measured's data-driven approach to tracking exposure in real-time creates smarter insurance products. Measured is built to scale quickly and grow responsibly, powered by partnerships and proprietary data."
With the proliferation of threat actors and the rise in cyber incidents, the global (re)insurance market has raised expectations for analytic rigor to profitably underwrite. This heightened discipline, coupled with rising demand for cyber coverage, has resulted in price increases and coverage contraction.
Measured makes it easier to obtain cyber coverage through creative partnerships with market leaders in insurance and cyber technology. Measured's proprietary analytics and technology-oriented underwriting generate deeper insights for insurers and greater value for customers at the initiation of a policy. When combined with the cyber hygiene enhancements of its cybersecurity partners, Measured delivers actionable insight around customers' ongoing security posture.
"Measured is uniquely positioned to provide innovative solutions for organizations seeking cyber insurance," commented Measured CEO, Jack Vines. "We're more than an insurance provider, we're a reliable, AI-powered cyber risk management partner. We appreciate the strategic advantage provided by SCOR's commitment of capacity and expertise to date. Together, we're better than ever at making our customers safer and more secure, thanks to having Canopius and SCOR at our side."
About Measured Analytics and Insurance
Measured Analytics and Insurance is a U.S.-based cyber insurance provider that utilizes proprietary, AI-rich data analytics and national security grade threat intelligence to deliver smarter cyber insurance products. The combination of flexible cyber underwriting solutions, data-driven insights and strategic partnerships with leading cybersecurity companies makes Measured the cyber risk solutions provider of choice. Learn more at measuredinsurance.com.
About Canopius
Canopius is a global specialty (re)insurer with underwriting operations in Australia, Bermuda, China, Singapore, the U.K., and the U.S. It underwrites through Lloyd's Syndicate 4444 (managed by Canopius Managing Agents Limited), a U.S. surplus lines insurer, Canopius US Insurance, Inc and Canopius Reinsurance Ltd, a Bermuda-based Class 4 Insurer.
For more information, visit www.canopius.com or follow @CanopiusGroup.
About SCOR, a Global Tier 1 Reinsurer
About SCOR
SCOR, a leading global reinsurer, offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying "The Art & Science of Risk," SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society.
SCOR offers its clients a tier one reinsurer rating from Standard & Poor's, AM Best, Moody's and Fitch.
The Group generated premiums of EUR 19.7 billion in 2022 and serves clients in more than 160 countries from its 35 offices worldwide.
For more information, visit: www.scor.com.
SOURCE Measured Insurance
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