“We’re really excited in regards to the cyber danger evaluation capabilities we now have due to our partnership with Secure Safety,” mentioned Liam Jones (pictured above left), head of enterprise growth at Mosaic. “The know-how offers us deep community visibility and places the deal with cyber danger controls and tradition. It’s a strong differentiator to have the ability to hyperlink cybersecurity measures to insurance coverage protection on this means.”
The SAFE platform’s fashions predict the probability of cyber breaches throughout a company atmosphere, MOSAIC mentioned. Utilizing APIs, SAFE gathers alerts from current cybersecurity merchandise, exterior menace intelligence, and enterprise context to evaluate potential cyber publicity.
“Cyber is essentially the most technical danger globally, however the underwriting course of stays largely unscientific at the moment,” mentioned Pankaj Goyal (pictured above proper), senior vice chairman of synthetic intelligence and cyber insurance coverage at Secure Safety. “Secure Safety is evolving cyber insurance coverage underwriting, making it data-driven by means of an inside-out evaluation.
“We hyperlink safety controls to monetary publicity, serving to underwriters make quicker and higher insurance coverage selections. Mosaic has been pushing the boundaries of innovation in insurance coverage. We’re glad to associate with Mosaic’s crew to assist insureds develop into safer.”
Learn subsequent: Mosaic provides tech E&O to cyber
Secure Safety will assist Mosaic underwriters see the entire cybersecurity rating for an organization, along with business benchmarks. The platform additionally offers underwriters insights on associated monetary exposures, serving to them to find out correct protection limits and design acceptable protection and pricing.
“The insurance coverage business has lengthy been encumbered by legacy programs and an underwriting course of that lacks technical quantification,” mentioned Yosha DeLong (pictured above heart), international head of cyber at Mosaic. “Now now we have the chance to push innovation into all features of our cyber underwriting for the advantage of brokers and buyer companions. We look ahead to working with Secure Safety to assist cyber underwriting evolve and precisely account for the funding our insureds are making into their cybersecurity tradition.”
Cyber is the fastest-growing of Mosaic’s seven traces of enterprise. Its different traces embody transactional legal responsibility, monetary establishments, political danger, political violence, {and professional} legal responsibility.
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