All solutions

Take a tour of Corax

Corax offers different solutions based on where you fit in to the cyber insurance equation.

Brokers
Underwriters
Exposure Management

Solution

Corax for Brokers

Brokers are using Corax to drill down and show the depth behind metrics such as cyber hygiene, frequency of breach and business interruption and potential average loss, while also modeling interconnectivity amongst a risk ecosystem. Corax is opening up new opportunities for brokers to discuss cyber in an informed way, and ultimately, to increase cyber insurance sales.

Lead generation

Streamline lead generation. Easily identify new groups of ideal customers and quantify potential cyber losses for your clients and potential clients.

Pricing

Strengthen negotiations with carriers. Gain the power to justify premium, limit and retentions based on real data. Calculate the likely premium required to meet a specific profit margin and determine the adequacy of your rate online.

Portfolio management

Assess the exposure of your attachment point within an insurance tower.

Cyber hygiene

Increase conversion rates by enabling sales conversations. Overcome common objections by providing insight into the likelihood of a cyber event and how much it could cost.

Solution

Corax for Underwriters

The Corax cyber exposure and underwriting platform delivers a probabilistic view by building profiles of individual risks using patent pending models, helping underwriters understand from a ground up perspective what the overall exposures are.

Corax is the only cyber insurance platform on the market that gives users the ability to adjust inputs that drive risk based upon the system’s models, giving users their own unique view of that risk. With individual risk ultimately changing inputs at the portfolio level, Corax produces individual Exceedance Probability curves loss intrinsically tied to entire portfolios, delivering a consistent end to end view of risk across your business.

Lead generation

Model risk quickly and easily. Forget snapshot in time application forms. Using data-driven advanced risk analytics, model the security posture of applicants and insureds in minutes.

Pricing

Make informed decisions. Use advanced risk analytics to create the right cyber insurance packages, at the right premiums. Calculate the likely premium required to meet a specific profit margin.

Exposure management

Take the devil out of the detail. Manage portfolio risk based on real data, identifying points of aggregation by industry vendor or geography, or sub-limits within a portfolio to quantify exposure.

Cyber hygiene

Increase conversion rates by enabling sales conversations. Overcome common objections by providing insight into the likelihood of a cyber event and how much it could cost.

Solution

Corax for Exposure Management

Corax enables you to introduce and model new risks into your portfolio from an aggregation perspective, also helping you to identify points of aggregation within your portfolio by industry, vendor, geography, or sub-limits in order to quantify, for example, the effect of an 1-10 event.

Using Corax’s powerful Exposure Management features, you can also quickly run custom RDS scenarios as well as pre loaded scenarios such as the prescribed Lloyds scenario.

Stress test your book

Run RDS scenarios to easily see your points of aggregation/silent cyber.

Simulate cloud meltdown

Ingest policies into the app in order to model industry + location + type of attack to show what the loss would be.

Determine sideways exposure

For each one of your policies.

See how Corax can help you to grow your cyber insurance business

Corax uses machine learning and our proprietary probabilistic and quantification modeling engine to calculate metrics such as cyber hygiene, frequency of breach and business interruption and potential premium.