Corax for Carriers
The Corax cyber exposure platform delivers a probabilistic view of risk by building profiles of individual risks using proprietary models.
Corax is the only cyber insurance platform on the market that gives users the ability to adjust inputs into the Corax model, giving users their own unique view of that risk alongside the standard Corax model. With individual risk ultimately changing inputs at the portfolio level, Corax produces individual Exceedance Probability loss curves intrinsically tied to entire portfolios. EP curves are created through the generation of individual events which can be viewed separately, as well are user-created events such as the Lloyd’s RDS. This approach gives exposure managers a multitude of individual risk and aggregation techniques, delivering a consistent end to end view of risk across their business.
With individual risk ultimately changing inputs at the portfolio level, Corax produces individual Exceedance Probability loss curves intrinsically tied to entire portfolios. EP curves are created through the generation of individual events which can be viewed separately, as well as user-created events.
Cross-sell cyber to your existing clients via bulk upload of lists of clients or via API integration of your existing systems. Identify new potential clients using Corax’s cutting edge CyberLocate tool to set geographic search areas
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. Corax explains the underlying risk associated with the policy, and how to mitigate this with different deductibles, limits and attachment points.
Manage portfolio risk based on real data – see the marginal impact of a new risk to your portfolio, segment your portfolio by risk types, and analyze upcoming renewals within the context of your overall book of business.
Introduce and model new risks into your portfolio to view overall aggregation and uncover points of aggregation within your portfolio by industry, vendor, geography, or sub-limits in order to quantify, for example, the effect of a 1 in 10 event. Quickly run custom RDS scenarios as well as pre-loaded scenarios, such as prescribed Lloyds scenarios.
Corax has modeled and monitored millions of detailed company risk profiles. This industry view of risk can be analyzed top down to enable users to segment risk and understand the correlation of loss on an industry basis.
Bulk upload portfolios of policies by csv file, or integrate via API with existing systems for a real time view of risk.
Corax’s model produces a YELT output, enabling users to see all scenarios that make up the whole EP curve, which includes historical events. These individual events can be monitored as an alternative aggregate approach, which can also be utilized through user-created events.
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