Amwins, a global distributor of specialty insurance products and services, announced a partnership with ePlace Solutions to provide retail agents and their insureds with access to cybersecurity experts who can advise about the security controls needed to secure cyber liability policy terms.
InsureReady is a proprietary, three-month service developed by ePlace Solutions that offers unlimited advice from cybersecurity experts, guidance on implementing security controls, vulnerability scanning of internet-facing systems, a standardized set of vital policies and procedures ready for customization, and more. Organizations that utilize InsureReady and implement the cybersecurity controls will also receive a certification that they are “InsureReady”. Amwins’ clients will receive a special discount on this service.
Betterview, an InsurTech provider of property intelligence to property/casualty insurance companies, announced that Vermont Mutual Insurance Group has selected the Betterview Property Intelligence & Risk Management Platform to help strengthen underwriting processes for the company’s commercial lines business.
Chartered in 1828, Vermont Mutual has provided a range of coverages across seven states in New England and the Mid-Atlantic region for nearly 200 years.
Founded in 2014 by insurance industry veterans, Betterview helps insurers predict and prevent losses, streamline underwriter efficiency, and engage with customers. Betterview’s Property Intelligence & Risk Management Platform includes tools which utilize geospatial imagery, computer vision models, and trusted third-party data from the company’s vendor marketplace, PartnerHub. Vermont Mutual’s underwriters are using the platform to order risk reports on commercial properties during the underwriting process.
Elpha Secure, a cybersecurity startup that provides cyber insurance combined with security software to small businesses, has chosen Socotra to complement its proprietary technology and launch a new cyber insurance product for a variety of industries.
In order to bring its new product to market, Elpha Secure sought a modern platform that could integrate with its front-end system and other capabilities. It initially took advantage of Socotra’s 30-day free trial and then transitioned to a self-service implementation approach. The MGA has launched a cyber insurance product that covers business interruption, financial and data losses – including ransomware – and third-party cybercrime lawsuits for its client base in all 50 states.
Sources: Amwins, Betterview, Socotra