Cyberwrite Expands Partnership with Markel to Enhance Cyber Risk Underwriting

On June 3, Cyberwrite, a cyber risk modeling technology provider, said it had expanded its partnership with Markel Group Inc. (NYSE:MKL). In the expanded deal, Cyberwrite will enable Markel Insurance to enhance its cyber risk underwriting capabilities across European markets.

A business executive reviewing insurance policy documents with a customer.

Markel Europe, the segment that manages the company’s European operations, has integrated Cyberwrite’s AI technology to help underwriters analyze exposures and communicate findings to brokers and clients. The platform provides predictive cyber risk analytics for businesses worldwide, enabling data-driven underwriting decisions within seconds while reducing loss ratios. The technology also supports next-generation cyber catastrophe modeling capabilities.

Commenting on the transaction, Frederik Wulff, CEO of Markel Europe, said the platform has revolutionized how cyber risk is assessed for small and mid-size businesses across various markets and industries. He noted that underwriters can now quantify factors previously difficult to measure in real-time for any business in local language. This helps brokers to explain cyber risks more effectively to clients.

Cyberwrite’s technology addresses industry challenges with limited or inconsistent datasets for cyber risk modeling. The platform’s real-time data collection covers more than 99.97% of businesses globally, providing risk reports for virtually any organization during underwriting in eight languages. This comprehensive coverage enables ground-up catastrophe modeling that improves model certainty.

Markel Group Inc. (NYSE:MKL) is a diversified financial holding company specializing in insurance, investments, and various business operations. Originally founded as an insurance company in 1930, it now provides property and casualty insurance, reinsurance, and specialty insurance products. Markel also invests in businesses across industries like manufacturing, consumer products, and services.

While we acknowledge the potential of Markel Group Inc. (NYSE:MKL) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MKL and that has 100x upside potential,  check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None.