Insurtech Lyra has made its cyber market intelligence platform available to brokers for free.

The tool provides information on available cyber insurance providers, their risk appetites by industry and incident response arrangements.

Ten cyber insurers have so far provided information to the platform, including Agile, Axa XL, CFC, Coalition, Cylo, Dual, Emergence and Nova.

“There has never been a single, accurate list of who writes cyber in Australia, let alone what they’ll write or who to call,” Lyra founder and CEO Jennie Reed said.

“By my estimate, there are around 50 specialist cyber brokers among roughly 15,000 brokers in Australia, about 0.3%.

“Everyone, specialists included, currently pieces the market together from inboxes, PDFs and old spreadsheets, and that gap shows up in the advice businesses get.

“Lyra gives every broker the same independent view, free.”

Ms Reed launched Lyra after leaving Aon in May, having been client director of cyber broking for more than two years, according to her LinkedIn.

“Cyber is one of the fastest-moving lines of business, and fragmented market data was one of my biggest frustrations as a broker placing cyber,” she said in a LinkedIn post this morning.

“I’m so excited to get [the platform] out there and see what everyone thinks. It’s not finished yet. More insurers are joining soon, and I’m looking forward to learning how we can keep making this useful for the wider cyber ecosystem.”

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