Cyberwrite names former Allianz Veteran Hartmut Mai as Cyber Insurance Technology Leader

CIOTechOutlook Team | Monday, 20 February 2023, 06:49 IST

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Hartmut Mai has been named group president of Cyberwrite, a supplier of cyber insurance solutions and the proprietary AI cyber insurance risk technology 4SEEN
 
Mai joins Cyberwrite with more than 25 years of leadership experience in the global insurance industry. He was once a board member and the chief underwriting officer (CUO) for Allianz Global Corporate & Specialty (AGCS). He also held executive underwriting positions at AIG, directed the 2013 launch of Allianz's cyber insurance product in Germany, and oversaw Marsh's Financial and Professional Liability (FINPRO) programme.
 
"Following our collaboration in 2022, we are excited for Hartmut to join us at full capacity to lead our insurance operations," said Nir Perry, founder and CEO of Cyberwrite. "Hartmut brings tremendous experience in insurance underwriting and markets management, cyber insurance, digital transformation and innovation. With Hartmut, we will continue to enable the insurance ecosystem to unlock the cyber insurance opportunity using Cyberwrite's patented AI technology and help businesses get the coverage they need in real-time, raise their awareness to cyber risk, and reduce that risk."
 
"I am thrilled to join Cyberwrite," said Mai. "As cyberattacks, data breaches, and other cyber risks become more common and impact businesses globally, costs skyrocket for businesses and insurers. There is a tremendous need across the industry for better ways to underwrite risks and insure businesses quickly and in a data-driven manner. I have known Cyberwrite since 2017, and its unique patented AI technology brings to market unprecedented capabilities to reshape the future of cyber security and cyber insurance for greater profitability, resiliency, and cyber safety."
 
In real-time and on demand, Cyberwrite's unique 4SEEN algorithm estimates the risk level and possible economic impact of cyberattacks for each firm. Cyberwrite's products are powered by this ground-breaking technology, which boosts efficiency and confidence at every stage of the lifecycle of cyber insurance. For instance, Cyberwrite's risk analysis platform provides underwriters with data-driven recommendations based on their underwriting standards, a regulatory impact study, and suggestions for company improvement. 
 
APIs, or application programming interfaces, offer all the data in an organised way. When selling products, insurance brokers and agents use the platform to educate customers on potential dangers, necessary insurance coverage, and ways to reduce cyber threats.
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