NEW YORK & LONDON–(BUSINESS WIRE)–Optio Group (Optio), which comprises MGAs Ascent Underwriting, Cove Programs and broker Bay Risk Services, and Guidewire Software, Inc. (NYSE: GWRE), provider of the industry platform general insurers rely upon, today announced that Optio has chosen Guidewire Cyence for Cyber Risk Management to enhance its data warehouse capabilities and underwriting performance, and Guidewire Cyence for Small Business to support profitable small business growth.
Through its founding partners, Optio provides comprehensive insurance products, underwriting and broking services. It has been writing cyber insurance since 2013, with a cyber proposition distributed through its proprietary broker platform. Optio’s seamless access to product and deep cyber underwriting experience continues to propel its growth in the cyber insurance market.
“Optio is always looking to improve and transform across all areas of the business, both back-office and client-facing,” said Kevin Hastings, CEO, Optio. “The decision to introduce a more data-driven approach to underwriting, claims and actuarial analysis, through Cyence, was driven by the desire to innovate…
