iScan Online Unveils Industry-First Cyber Insurance Solution to Quantify Risk, Simplify Premium Setting

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Leader in data breach risk intelligence puts real-time dollar value on cyber risk

Cyber Insurance

Cyber Insurance Intelligence Platform

Risk managers need to understand their cyber risk exposure, and quantify cyber risk for the C-suite. Until now, there has not been a way to do this rapidly and based on real-time data.

iScan Online today announced that it will unveil iScan Cyber Insurance Intelligence at the NetDiligence Conference, June 2-3. Until now, it has been difficult to provide evidence of cyber risk to set insurance premiums. iScan’s solution quantifies cyber risk liability, placing a dollar value on a company’s cyber risk in a consistent, cost-effective and non-intrusive way. Insurers can finally set premiums based on real data, and risk managers can now understand their cyber exposure.

iScan Cyber Insurance Intelligence is based on the successful iScan Data Breach Risk platform. Today, Chief Information Security Officers use iScan to financially prioritize data breach risk to make resource decisions and educate the C-suite on security initiatives.

iScan Online has worked closely with Ty Sagalow, CEO of Innovation Insurance Group and the originator of cyber insurance, to customize the platform to meet the unique needs of the cyber insurance industry.

At the core of the iScan solution is the security number for each organization in the insurer’s portfolio.

  • The “security number” is the dollar value of the financial liability a company faces from its cyber risk. The security number factors in the number and type of unprotected data, who has access to that data, and the number and severity of vulnerabilities.
  • iScan Cyber Insurance Intelligence discovers this data on PCs, servers and mobile devices in a patented, non-intrusive way.
  • The security number and other key metrics are then presented in an easy-to-understand dashboard.
  • Insurers can view a single organization, an entire portfolio, or a portfolio by industry. Insurers and risk managers can view cyber risk daily, weekly or monthly.
  • The cloud-based lightweight deployment provides results the same day.

“Insurers need a non-intrusive way to determine premiums that cover their risk. Risk managers need to understand their cyber risk exposure, and quantify cyber risk for the C-suite,” says Carl Banzhof, CEO of iScan Online. "Until now, there has not been a way to do this rapidly and based on real-time data. iScan Cyber Insurance Intelligence simplifies the insurance process by putting a dollar value on cyber risk.”

iScan Online and Ty Sagalow will unveil iScan Cyber Security Insurance Intelligence at the NetDiligence Conference in Philadelphia, PA on June 2-3, 2015.

About iScan Online
Do you know your security number? iScan Online is the industry’s first data breach risk intelligence platform that puts a real-time dollar number on an organization’s security risk. iScan’s patented discovery process uncovers sensitive data and vulnerabilities, and financially prioritizes the results in reports that speak the language of the C-suite. Now CISOs can make informed resource decisions and educate board members on the impact of security initiatives.

To find out more information about iScan Online’s offerings for the insurance industry, visit iscanonline.com/insurance

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Billy Austin
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