SecondSight says its AI platform unearths true cyber risk

17 October 2022

SecondSight says its new AI-driven platform continuously gathers digital risk intelligence for underwriters and makes “being uninsurable for cyber a thing of the past” for businesses.

The insurtech raised $US3 million ($4.83 million) and says it is the first AI-driven platform that brings telematics to digital risk.

Cyber insurers can for the first time see the “true digital risk with complete clarity,” it says, as the platform autonomously discovers, classifies and analyses an organisation’s entire digital assets and unique risk profile across thousands of different risk factors.

“SecondSight was created to help businesses make sense of their digital assets and find the true digital risk and value in them,” CEO and Founder Reuben Vandeventer said.

The platform enables unprecedented “always on” views into the “true digital risk that lives in a business”. SecondSight says more than 80% of cyber insurance applications today are denied, standards for underwriting are becoming more stringent.

“SecondSight goes both broader and deeper than external risk control audits to inventory and classify all digital assets, analyse thousands of facets of risk, and calculate dollarised impact,” it said.

“What traditionally takes the industry weeks to compile takes SecondSight a matter of days – well above the industry average rate.”