New AI-powered cyber underwriting firm launches

Envelop Risk, a new global specialty cyber insurance analytics and underwriting firm, has been launched in London. The firm also operates offices in Boston, Washington DC, and Bermuda. Envelop Risk provides cyber underwriting to re/insurers, partnering with cyber security firms to deliver custom cyber insurance products for their customers. Using its proprietary artificial intelligence-based simulation model the company claims to provide "more-accurate policy and portfolio pricing with increased access to capital markets, while reducing overall risk exposure". Envelop applies an augmented intelligence approach, combining quantitative methods with human expertise in underwriting and cyber security.