Zurich has adopted Guidewire’s Cyence risk product for pricing cyber risk

Zurich has adopted the Guidewire Cyence risk analytics product to help price cyber risk.

Guidewire said the international insurer will use the software tool to help prospect, underwrite and price risks.

“After conducting a thorough search, we found that the capabilities of Guidewire Cyence Risk Analytics, combined with Zurich’s risk insights, will strengthen the way we address the challenges of today’s rapidly-changing cyber risks,” said Lori Bailey, Zurich’s global Head of cyber risk.

“We are focused on helping our customers, assess these cyber risks; and this product will help us make better underwriting, pricing, and enterprise risk management decisions so we can meet that goal.”

Zurich is already a customer of Guidewire’s other software products.

“We are pleased that Zurich has extended their relationship with us through this selection,” said George Ng, chief data officer, Guidewire.

“We are looking forward to working with them to infuse data analytics to help them achieve their strategic goals around growth and enterprise risk management.”