Envelop Risk (“Envelop”), the data-driven cyber reinsurance and analytics specialist, today announces the launch of its services business, Envelop Risk Solutions, offering a spectrum of support for insurers and reinsurers seeking enhanced cyber performance.
Envelop Risk Solutions will leverage Envelop’s Augmented Underwriting approach that combines comprehensive use of data enrichment and artificial intelligence with rigorous underwriting and capital management approaches.
Current Envelop Risk Solutions projects range in scope from clients building a cyber program from scratch to international reinsurers seeking further scale. Support ranges from technical assistance to advisory across the full capital management spectrum, including: cyber underwriting and underwriting strategy, cyber modelling, scenario modelling, capital metrics, cyber market analytics, new product development, threat intelligence, reinsurance operations automation, and global cyber risk forecasting.
Envelop Co-founder Paul Guthrie will lead the business area on an interim basis. Prior to Envelop Risk, Guthrie led artificial intelligence and technology integration projects for global investment banks, asset managers, Aerospace & Defence firms, and NASA.
Envelop Risk Solutions extends Envelop’s mission of building resilience and enabling growth in global cyber insurance and reinsurance markets. Jonathan Spry, Envelop co-founder and CEO, said “Envelop was founded to enable sustainable industry growth through the intelligent application of advanced analytics technology to best practices in capital management and underwriting. Cyber remains a growing and potentially very profitable area but it requires specialisation to accept risks safely. We offer our capital partners the most detailed and rigorous assessment of their cyber portfolios in the industry. With a view to increasing the resiliency of the global cyber market, it’s a pleasure to open our tool kit to help our industry partners, large and small, hit their strategic targets.”