- SecurityScorecard provides data-driven cyber risk insights to validate defenses, prioritize investments, and strengthen proactive cybersecurity strategies.
- In July, Sophos Group plc and Cysurance LLC announced a partnership to provide fixed-price cyber insurance to Sophos’ managed detection and response customers in the United States.
Recently, SecurityScorecard Inc., a security rating company, has unveiled a fresh collaboration with Measured Insurance LLC, an AI-driven cyber insurance provider, to offer discounts based on security ratings.
This partnership emerges amid a dynamic cyber insurance landscape, marked by rising premiums and reduced coverage, reflecting the increasing financial impact of cyber incidents. A recent report by Delinea Inc. highlighted a growing disparity in cyber insurance coverage, driven by providers limiting their exposure and organizations overlooking the intricacies of cyber insurance policies.
This collaboration between the two firms empowers organizations to integrate cyber insurance into their risk management strategy, offering a valuable option in a climate where insurance costs remain unpredictable. With this method, cyber insurance can be bought as part of a larger program of corporate investments and enterprise risk management.
Under the partnership, Measured Insurance uses AI data analytics and national security-grade threat intelligence. SecurityScorecard provides data-driven cyber risk insights to validate defenses, prioritize investments, and strengthen proactive cybersecurity strategies.
The partnership’s benefits include complementary risk assessments. For example, SecurityScorecard can find security gaps and factors that affect premium costs. When problems are found, an action plan to reduce the risk of a threat is made available so that customers know how to get a discount on their cyber insurance. To prioritize cybersecurity investments, SecurityGuard also identifies the most impactful security issues based on the distinct attack surface of each organization.
“History shows that a cyber-insurance policy alone is insufficient for mitigating threat exposure,” SecurityScorecard’s Chief Business Officer, Sachin Bansal, stated. “Strong cybersecurity hygiene and cyber insurance must go hand in hand.”
A security company and a cyber-insurance provider partnership is one of many. In July, Sophos Group plc and Cysurance LLC announced a partnership to provide fixed-price cyber insurance to Sophos’ managed detection and response customers in the United States.
Like the SecurityScorecard partnership, the Sophos partnership acknowledges the security layer companies have implemented to manage potential attacks and lessen the financial impact of a data breach.