SCOR partners with Baobab Insurance to enhance underwriting support for CyberSafe policies in Germany and Austria. SCOR adds capacity to Baobab’s existing binder, extending coverage to companies with up to €1bn in annual revenue. The move aims to strengthen SCOR’s cyber portfolio in Europe, especially for industrial clients.

Baobab’s data-led underwriting model focuses on risk evaluation and prevention, utilizing its Deep Scan system for enhanced transparency in risk-based pricing. Real-time vulnerability alerts have helped prevent losses worth millions of euros, keeping the loss ratio below market levels. Policyholders also receive preventive services and access to cyber specialists.

SCOR and Baobab’s partnership aligns with SCOR’s strategy to expand cyber underwriting in Europe, catering to the rising exposure of industrial customers. The collaboration marks a significant milestone for Baobab, now able to underwrite companies with up to €1bn in revenue. Baobab’s digital approach emphasizes data-driven risk assessment and prevention for SMEs and the industrial sector.

Read more at Yahoo Finance: SCOR expands Baobab cyber capacity via Lloyd’s