Cape Analytics and Kin Insurance will expand a partnership involving remote risk assessment for homeowners insurance customers. Corvus Insurance launched a new initiative providing cyber risk analysis and reports for hospitals and other entities on the frontlines of the healthcare response to the COVID-19 pandemic.
Cape Analytics will expand its partnership with InsurTech Kin Insurance involving remote risk assessment for homeowners insurance customers.
Kin is a home insurance technology company that provides what it says is easy and affordable coverage for homeowners in catastrophe-prone regions. Cape Analytics uses geospatial imagery, computer vision and machine learning to immediately extract proprietary property data for carriers and other property stakeholders.
Plans call for Kin to use Cape Analytics’ geospatial property intelligence to beef up its homeowner insurance offering and provide customers with what it said will be the best possible coverage at the lowest price with the least hassle. The companies added that by using Cape Analytics for remote risk assessment, Kin is continuing to write policies and serve customers, while maintaining social distancing rules that keep customers and employees safe.
Cape Analytics provides Kin with the most comprehensive, timely, and accurate property information available and the integration of its data with the company lets Kin provide customers with policies tailored to individual property and coverage needs. Cape Analytics automatically provides information such as roof condition, roof type, tree coverage, and presence of a swimming pool, allowing Kin customers to get the right coverage faster, the companies said.
Corvus Insurance, a provider of commercial insurance products propelled by AI-driven risk data, launched a new initiative providing cyber risk analysis and reports for hospitals, healthcare entities, or any organization on the frontlines of the healthcare response to the COVID-19 pandemic.
The reports are provided free of charge and can be requested through the company’s website.
As hospitals’ staff and technology are strained due to ongoing efforts to combat the COVID-19 pandemic, the potential impact of a cyberattack is exacerbated, making it more important than ever to reduce cyber risk. The outbreak also comes amid a sharp rise in cyberattacks on healthcare entities observed over the past six months. The Corvus initiative offering Dynamic Loss Prevention (DLP) Reports is a response to the heightened need to ensure all possible measures are taken to strengthen IT security in healthcare, the company said.
The DLP Reports are produced through a non-intrusive scan of an organization’s external-facing IT security systems, known as the Corvus Scan. Based on its proprietary software and scoring tools, the Corvus Scan can identify weaknesses and make recommendations for improvements to IT security. To date, the Corvus Scan has been run on tens of thousands of organizations, including thousands of health care entities, as part of its critical use in underwriting Cyber Insurance, the principal target market for Corvus Insurance.
The DLP Report includes an overall score of IT security as well as a benchmark based on the industry class and size of the organization. More granular scores and specific recommendations are provided for things like out-of-date software that may harbor vulnerabilities, the use or non-use of certain security tools, and the size of the attack surface area that must be defended.
Sources: Kin Insurance/Cape Analytics and Corvus Insurance