QOMPLX announces plans for US insurance subsidiary RubiQon Risk/RubiQon Re
RESTON, Va., July 8, 2020 /PRNewswire/ -- QOMPLX™, an intelligent decision platform provider, today announced the launch of a US-based subsidiary Managing General Agency RubiQon Risk & Insurance Services/RubiQon Re. Led by insurance industry veterans Conan Ward and Romel Salam, the new MGA will offer cyber insurance, along with multi-line treaty and facultative re/insurance utilizing QOMPLX's established high-capacity data, modeling and analytic capabilities. Ward is the former CEO of Validus Re and Hamilton USA; Salam is the former CRO of Validus Holdings and former Chief Actuary & CRO of Validus Re. The initial launch will be in the fall of 2020 and will target the large cyber market with aggressive multi-line expansion following.
"The unique capabilities of QOMPLX's decision platform, cybersecurity solutions and professional consulting presented an opportunity to build a world-class infrastructure that merges the best of today's technological revolutions, cyber expertise and a deeply knowledgeable re/insurance team," said Conan Ward, GM and President, RubiQon Risk. "We're looking to bring strategic-level solutions and insight to bear for our risk partners, notjust tactical product solutions. It is extremely difficult for carriers to innovate, add technology and big data infrastructure, and still keep their factory lights on. We are prepared to work hand-in-glove with a small number of key partners to create a more symbiotic relationship between carriers and RubiQon to broaden their capability map, distribution outlets and product offerings."
Cyber coverage grants in traditional products are dwindling as "silent" cyber rightly disappears. These new exclusions will drive demand for dedicated cyber insurance, a vastly superior product. RubiQon embraces a partnership approach to risk management with clients, akin to the best property and workers' compensation risk improvement models. Clients will benefit from improved security posture and resilience through assessment tools, internal network analysis, active directory monitoring, risk remediation and security programs and practices uplift to ensure sustainability.
"Because cyber threats are so pervasive and dynamic, we can't think of another class of business that requires a more thoughtful approach to underwriting," said Romel Salam, Principal, RubiQon Re. "We are excited about leveraging QOMPLX's best in class technology platform and cybersecurity expertise to bring comprehensive and innovative risk management solutions to our clients and partners."
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SOURCE QOMPLX, Inc.