Cyberwrite, a provider of AI cyber insurance risk technology and products, has announced the appointment of Hartmut Mai as group president. Mai brings with him over 25 years of global insurance leadership experience, including serving as the global Chief Underwriting Officer and board member at Allianz Global Corporate & Specialty, as well as holding leadership roles at AIG and Marsh. Mai led the launch of the cyber insurance policy of Allianz in Germany in 2013, and is experienced in underwriting, markets management, cyber insurance, digital transformation and innovation. With his appointment, Cyberwrite plans to continue to enable the insurance ecosystem to unlock the cyber insurance opportunity using its patented AI technology, helping businesses to get the coverage they need in real-time, raising their awareness to cyber risk, and reducing that risk.
Mai expressed excitement about joining Cyberwrite and said that the increasing prevalence of cyberattacks, data breaches, and other cyber risks has resulted in skyrocketing costs for businesses and insurers, creating a significant need for better ways to underwrite risks and insure businesses quickly and in a data-driven manner. Connected to Cyberwrite since 2017, Mai believes that 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.
Cyberwrite’s patented 4SEEN® algorithm predicts the risk level and potential economic impact of cyberattacks for any business in real-time and on demand. This breakthrough technology powers Cyberwrite’s offerings to bring greater confidence and efficiency to every stage of the cyber insurance lifecycle. Underwriters using Cyberwrite’s risk analysis platform, for instance, are empowered with data-driven recommendations based on their underwriting guidelines, a regulatory impact analysis, and guidance for improvement for each business. Insurance agents and brokers leverage the platform when selling policies to help their clients better understand their potential risks, what coverage they need, and how to mitigate cyber risks.
Mai’s appointment as group president of Cyberwrite represents a significant move towards reshaping the future of cyber security and cyber insurance. With his extensive experience in insurance underwriting and markets management, cyber insurance, digital transformation and innovation, Cyberwrite is well-positioned to unlock the cyber insurance opportunity using its patented AI technology and help businesses get the coverage they need in real-time, raise their awareness to cyber risk, and reduce that risk.