Kovrr

Kovrr offers an AI-based cyber risk modeling platform for insurers and reinsurers to facilitate underwriting decisions, quantify losses from cyber risks, and for ongoing portfolio management.

The platform creates multiple predictive cyber risk models by using third-party data sources, threat intelligence exposure data, and its own proprietary databases that consist of data from more than 100,000 event simulations. The platform can assess potential economic impact, insured annual average loss (AAL), and probability of maximum loss (PML) at an individual coverage level. Insurers can also use Kovrr’s platform to stress test the cyber risk exposures of their portfolio while other companies can use it to financially quantify their own cyber risks.

Kovrr has product partnerships with BitSight, where it introduced a joint offering that combines data and analytics with Kovrr’s technology to help insurers underwrite policies, and more recently with Aon, to offer cyber risk modeling solutions to the latter’s insurance/reinsurance clients. Kovrr’s key clients include insurers and reinsurers such as Mapfre, Acrisure Re, Lockton Re, and Deutsche Rück.

In 2019, Kovrr raised USD 5.5 million in Series A funding led by StageOne Ventures and Mundi Ventures. The funding was to be utilized for product development and global expansion.