Kovrr is a cyber risk modeling platform which provides leading insurance carriers and reinsurers with an end-to-end cyber risk modelling platform. The startup delivers transparent, data-driven insights and enables them to quantify and manage their affirmative and silent cyber risk exposures across all lines of insurance.
The growing digitalisation in companies and the increase in cyberattacks –from 80,000 in 2016 to 160,000 in 2017 has increased the need for cyber insurance. It is expected that the global cyber insurance security market will grow from $5 billion in premiums globally in 2019 to more than $23 billion by 2025. It will also bring the bank closer to a first-class tech team.