MGA Elpha partners with CyberCube

Cyber managing general agent (MGA) Elpha Secure will use two of CyberCube’s new-generation cyber risk analytics tools.

Elpha has licensed CyberCube’s Portfolio Manager platform and its Single Point of Failure (SPoF) Intelligence module.

Elpha believes the products will conceptualize the MGA’s risks as the business grows and create a compelling case to attract capacity from providers operating within the insurance-linked securities (ILS) space.

Elpha Secure is backed by a number of insurers including Everest and Axis. It provides a comprehensive cyber solution combining cyber security and cyber insurance to small-to-medium sized enterprises in the US.

Andrew Lukas, CyberCube’s senior client account manager, said: “We are excited to partner with Elpha Secure as they bring both cyber risk transfer and cyber protection technology solutions to their insured base. Portfolio Manager and SPoF give Elpha a holistic view of their concentrated exposures and loss potential.”

Preetam Dutta, Elpha Secure’s chief executive, said: “The cyber insurance industry is facing systemic risks, which continue to grow every day as more users aggregate around possible attack vectors. We are excited to build on work in the ILS space through our partnership with Fermat Capital and CyberCube.”