@RISK Technologies Is Partnering With Independent Insurance Professionals to Help Protect Their Commercial Clients and Grow Cyber Insurance Sector of Their Business
DALLAS (PRWEB) October 24, 2018 -- @RISK Technologies who provides Network Consensus, a “Left of Bang” approach to Cybersecurity Management, is working together with Independent Insurance professionals across the country to help their customers protect themselves and successfully grow the cyber insurance market sector of their business.
According to Cybersecurity Ventures, Cybercrime will cost the world $6 trillion annually by 2021. Given that this is the largest involuntary transfer of wealth in human history, why does it continue to be such a challenge to sell the right policy to commercial customers of insurance agents?
In a recent survey of companies most CFOs confided that, even after making investments in Cybersecurity, leadership has a hard time quantifying the risk they face. While the technology they purchased is believed to be working, their IT staff are unable to quantify how well it is working, nor how safe the Company is. This is a challenge and at the same time an opportunity for insurance professionals. If agents are able to quantify the risk in a tangible manner, companies would be more willing to buy the right sized cyber insurance policy.
Cyber insurance is changing the way we look at risk. Unfortunately, all too often, Insurance professionals struggle with how to engage in cybersecurity conversations with their customers. In many cases, they find they are unable to quantify the kinds of exposure and risk their customer is actually facing. For example, many companies don’t have an accurate inventory for what is on their network. This makes it difficult to determine the best coverage to mitigate cyber risk without being disruptive to the company budget. To make it more challenging, cyber liability, business interruption, and property coverage may also apply at varying degrees, to cyber-related claims. Knowledge of the cyber-related particulars of each unique policy is particularly important when determining which policy is triggered and how it is relative to other policies.
Insurance professionals are aware of the law of large numbers and how past loss and payout data helps to better insure customers and commercial client partners. Despite the fact hacks are happening every day, why do some clients circumvent necessary protocols and avoid due diligence? After all, the amount of vital information and data running through a network is pretty large. Surely someone can develop a cyber actuarial model based on all the data running through networks and quantify, in simple terms, the probability of breach for a customer.
@RISK’s Quorum Solution has built a Balanced ScoreCard for Cybersecurity. It explains the exposure in simple and easy to understand terms. It also is compliant with every single Cyber Framework. It includes an actuarial cyber table that shows the probability of breach for a company on a daily basis. @RISK statistics calculate the remaining threats after they assist your customer in making an improvement to hardening the network. @RISK is able to forecast the breach expectancy for companies across different industries, sizes, network traffic, and they calculate the probability of surviving a particular kind of attack.
@RISK is offering a cyber risk and exposure assessment to customers of Independent Insurance members who have partnered with @RISK. The company will run continuous monitoring of your customers networks, conduct dark web searches and run penetration testing in order to quantify exposure and a probability of breach.
“It’s similar to a fleet of cars or trucks,” says @RISK Technologies Client Partner, Lynette Brehm. “Just as you might monitor a vehicle and run analytics to write the best policy based on the data collected, we do the same for cyber! We install our device and run analytics on the network. The data we analyze indicates how vulnerable that business is to an attack.”
@RISK Technologies’, co-founder and President Sean O’Brien, built the company to protect an underserved market, Main street USA. After serving his country as an Army Ranger, and successfully building and selling technology to the DOD for IBM, he built his first company. This company created Big Data Analytic Systems to hunt for terrorists and combat the asymmetric warfare techniques of our Nation’s adversaries. After selling that company he created @RISK Technologies. @RISK AI is designed to fight asymmetric cyber threats using machine learning. @RISK’s, Artificial Intelligence mimics human tradecraft to protect companies struggling to defend themselves
Mr. O’Brien recently said at a Cyber Luncheon in San Antonio, “Two Hundred and Forty-Two years ago, foreign powers invaded the privacy of homes and businesses and took what they wanted; with no Army to protect them, brave citizens formed as “Minutemen” on the village green to defend their inalienable rights using unconventional tactics.” Mr. O’Brien passionately asked the audience to: “Join Our Common Cause. Our forefathers fought for Our privacy and freedom. Now it’s Our turn. Together, we can protect MainStreet USA and the inalienable right to Privacy.”
Yan Wang, @RISK Technologies, Inc., https://www.atrisktech.com, +1 9725321878, [email protected]
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