Envelop Risk

Envelop Risk is a global specialty cyber insurance firm leveraging AI-driven cyber risk modelling to provide swift pricing, risk analysis and underwriting to re/insurers. As of 2018, they are backed by major multinational insurer, MS Amlin.

Their AI-enabled modelling and simulation tools factors in hundreds of financial and economic features and over 600,000 companies to make informed, data-driven predictions. In addition, their cyber risk modelling analyses attacker tactics and trends, external cyber posture analysis, and social media data to help mitigate risk.

Founded in 2016, their executive team brings decades of experience in cyber underwriting, risk management, reinsurance structuring, insurance linked-securities, and investment banking. Their developer team, too, have received global recognition for innovations in AI, cyber security software, algorithm development, defence technology, and complex system design.

In 2019, the cyber security specialist reinsurance MGA announced that major insurer MS Amlin had acquired a stake off the back of their initial partnership last year.

The following year, in May, Envelop Risk announced it had raised a $6m Series A funding round led by Alpha Intelligence Capital. The company stated it would use the money to further develop its product and expand its commercial reach.

In September 2021 Softbank invested £94 million into Envelop Risk. The Series B round will be put towards the latter's plans to expand its machine learning activity in London and Bermuda, with the ambition to grow into new markets internationally with new products beyond cyber reinsurance. Envelop Risk has reportedly underwritten over a quarter of a billion of business since 2018.