Converge expands cyber insurance capacity through partnership with Obsidian

Converge Insurance, a company specialising in cyber risk management and underwriting, has secured underwriting capacity from Obsidian Insurance Group, strengthening its ability to provide comprehensive cyber coverage for businesses with up to $1 billion in revenue.

Backed by a panel of top-tier reinsurers, this partnership reinforces Converge’s commitment to offering tailored, high-quality solutions to wholesale brokers and their clients facing an increasingly complex cyber threat landscape.

“Our partnership with Obsidian is a testament to the strength of our underwriter-led capabilities and our commitment to addressing the ever-increasing challenges of cyber risk,” added Tom Kang, CEO of Converge.

“The additional capacity will allow us to further innovate our offerings, grow sustainably and methodically, and, most importantly, support our broker partners and their policyholders with enhanced coverage options.”

With this expanded capacity, Converge is positioned to meet the growing demand for cyber insurance, ensuring wholesale brokers have access to flexible and comprehensive solutions for their clients. The increased support will extend across Converge’s core products, including its proprietary ConvergeElements, ConvergeConnect, and API-based coverage solutions.

ConvergeElements delivers both primary and excess cyber coverage through select agents and brokers. Leveraging its advanced technology platform, Converge streamlines underwriting by integrating data from applications, external system scans, broker portals, and analytics tools, enabling more precise risk assessments.

ConvergeConnect provides primary cyber coverage through prequalified technology partners. By gaining direct access to insured-specific security data, Converge delivers tailored, data-driven coverage solutions based on real-time cybersecurity insights.

“We are excited to collaborate with Converge and a panel of top reinsurers to help meet the rising demand for cyber insurance,” commented Bill Jewett, CEO of Obsidian.

“This partnership aligns with our commitment to supporting innovative and superior underwriting organisations that are paving the way in cyber insurance with responsible strategies that put the insured first.”

The expanded capacity aligns with Converge’s commitment to empowering brokers with the tools and resources needed to support their clients effectively.

This includes a seamless digital platform, advanced risk assessment capabilities, and a strong focus on delivering exceptional claims service. As cyber threats become more frequent and complex, Converge remains focused on offering proactive solutions that adapt to the evolving challenges faced by businesses across the United States.

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