New product launched to assess cyber vulnerabilities

New product launched to assess cyber vulnerabilities | Insurance Business America

Cyber

New product launched to assess cyber vulnerabilities

Offering leverages firm’s own data and analytics, as well as third-party AI

INSUREtrust, a specialized cyber insurance and risk management broker under Starwind Specialty, has introduced Cyber Pre-Check, a product aimed at simplifying application processes, vulnerability scanning, and IT and insurance budgeting for policyholders.

INSUREtrust is able to offer the product by leveraging its own data and analytics, combined with artificial intelligence from SecondSight.ai.

The Cyber Pre-Check product conducts a comprehensive scan of a client’s environment prior to entering the market, providing valuable data that supports thorough submissions. It also assists clients in creating a prioritized roadmap for their IT security spending and facilitates financial planning around increased limits. These measures help clients establish themselves as top-tier risks in the eyes of the insurance marketplace, INSUREtrust said.

Cyber Pre-Check utilizes third-party risk modeling to confirm the adequacy of coverage limits by comparing the percentage of losses insured by a client’s current limit against their peers. Additionally, Cyber Pre-Check’s digital asset inventory allows clients to share their inventory findings, which can lead to preferential treatment from cyber insurance markets. The completed repository preserves the client’s application, streamlining the renewal process and eliminating the need for a completely new ransomware application every year.

“Through the use of Cyber Pre-Check, INSUREtrust’s network of brokers and partners can experience a new level of confidence, a competitive advantage in the market, and differentiated offerings that enable the delivery of a better client experience,” said Christiaan Durdaller, president and CEO of INSUREtrust.