Coalition will partner with HackerOne to offer its cyber insurance small business clients programs to reduce hacking risks. Munich Re will start using artificial intelligence technology from Starmind to help its employees more quickly and effectively access internal expertise.
Coalition is now offering lower cyber insurance premiums to small and midsize businesses that use services from HackerOne to reduce their hacking risks.
Coalition is a cyber insurance and cybersecurity startup. HackerOne is a company started by hackers and security experts that works with the global hacker community to help make customers’ Internet operations safer.
Through this new partnership, Coalition policyholders can create a HackerOne vulnerability disclosure program using the HackerOne Response app, available through Coalition’s cyber risk management platform, and the app is available for free to Coalition policyholders. As well, Coalition policyholders can launch a bug bounty program and access other HackerOne services as part of the deal. HackerOne Response lets any company receive and respond to vulnerabilities discovered by trusted hackers before criminals can tap into them.
Any company that sets up a vulnerability disclosure or bug bounty program is eligible for lower premiums on Coalition’s Cyber and Technology Errors & Omissions Insurance. Companies that already have a program in place and are publicly listed within the HackerOne Program Directory get the discount automatically after applying for insurance coverage. Also, companies new to hacker-powered security can use the free HackerOne Response App through Coalition to create a program and qualify for lower insurance rates.
Munich Re will start using artificial intelligence technology from Starmind to help its employees more quickly and effectively access internal expertise.
Starmind, a software company based in Switzerland, announced the partnership.
Starmind describes its AI approach as using neuroscientific principles, which lets its platform understand people “in a uniquely human way.” Its other customers include Swiss Re, the company noted.
By applying Starmind’s technology to Munich Re’s operation, the technology’s self-learning algorithms will help the reinsurer build its “corporate brain.” With the technology in play, Munich Re’s employees will be able to spot and connect with the best internal expert in nearly any query and to access internal knowledge more quickly and efficiently, Starmind said.
In the end, the AI technology will also help Munich Re expand its client service and risk transfer product options, according to the announcement.
Sources: Coalition/HackerOne, Munich Re/Starmind