Managing general agents for reinsurance are rare. Reinsurance MGAs that write cyber are even rarer, which is the world that Envelop Risk inhabits.

“We think we’re the only InsurTech firm involved in cyber reinsurance from an underwriting perspective,” said Jonathan Spry, CEO and co-founder of London-based Envelop Risk. He acknowledged there are companies, such as CyberCube, which focus on analytics, as well a small number of MGAs that underwrite cyber reinsurance, but he believes Envelop Risk is the only InsurTech in the cyber reinsurance underwriting space.