Sompo International Holdings has partnered with two companies to beef up its cyber risk management services for email security protection. Verisk rolled out an analytics product that aggregates cyber insurance data to help insurers gain insights into the market and improve strategic decision-making. Guidewire Software Inc. has extended its partnership with a company involving its cyber risk management data model.
Sompo International Holdings Ltd has partnered with SecurIT360, a full-service security consulting firm, and The Crypsis Group, a cyber risk management firm, to offer all eligible cyber policyholders in the U.S. complimentary cyber risk management services for email security protection.
Qualifying Sompo International Cyber clients now have the option to access and engage cyber consultants from SecurIT360, who will perform customized reviews of current email security configurations and protocols. This service is designed to help the company’s cyber clients to better proactively manage their risk against cyber criminals and their top method of attack. Each live consultation includes best practice recommendations following the Center for Internet Security guidelines and other relevant standards for a full range of security and deployment processes, the company said.
This latest offering of cyber and network risk products complements Sompo International’s selection of property/casualty products. Eligible insureds may access these complimentary risk management services via the Sompo International Cyber Risk Portal.
Sompo International Holdings Ltd. is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda.
Verisk has rolled out its Cyber Data Exchange, an analytics product that aggregates cyber insurance data to help insurers gain insights into the market and improve strategic decision-making.
The product allows participating companies to contribute their data to the exchange, where it is aggregated, summarized and developed into business intelligence and then returned to these companies through interactive dashboards.
Verisk is seeking to broaden the exchange further with a wide range of participants, including managing general agents (MGAs), insurers, reinsurers and brokers. Several prominent cyber insurers are already committed to participate, the company said.
Guidewire Software Inc. and Advisen signed a multiyear agreement for Guidewire to continue using Advisen data as part of its Guidewire Cyence Risk Management (Cyence) data model.
Advisen data has been included in Cyence Risk Analytics since the product’s creation in 2015.
Collectively, the data in the model provides insurers with the ability to measure the financial impact of cyber risks. By combining external data sources with Advisen’s proprietary fact-based cyber loss dataset, Cyence enables companies to evaluate exposure and face risks proactively through data science and economic modeling insights.
Guidewire Cyence Risk Analytics are data listening and risk analytics products focused on understanding and modeling new and evolving 21st century risks. Advisen provides data, media and technology products and services for the commercial property/casualty insurance market.
Sources: Sompo International Holdings, Verisk, Guidewire