Cyber Security matters for businesses and individuals. But unlike the other areas of Risks, Cyber Threats are also not easily assessed and Insured. CyberInsurify is changing that.
CyberFirst from CyberInsurify is an advanced Quantification Tool for Cyber Insurance Engagement, Underwriting & Augmentation.
CyberFirst provides fully-automated Cyber Risk Profiling in 60-120 minutes!
This facilitates exchange of information between Insurance carriers, Brokers, Underwriters, and Consumers!
What’s great about CyberFirst is that it provides real time Cyber Risk Assessment for your clients to improve the Quote to Bind Ratio and increase customer satisfaction. It offers a 4D Data analytics approach to reduce the Cyber Claims.
CyberFirst empowers Insurance Brokers and Insurers to:
The Clients and Cyber Insurance providers required the Data-driven reports to do more effective conversations.
In general business insurance buyers are aware of their risks, requirements and the available market options. But for cyber insurance buyers the lack of awareness on their business Cyber Risks. So they expect the Cyber Insurance Broker or Insurer to advise correctly the prospects and clients while demonstrating that you understand their needs and exposure. So, how can this be done quickly and efficiently for both generalist and cyber specialist brokers?
CyberFirst uses the data modeling and combines a large number of data sources – from internal and external security data, historical losses data, futuristic data and enterprise data – and applies specialized analytics to produce targeted information on your client’s cyber risk profile. This is achieved with the verified inputs from the insurance buyer and without introducing friction into the sales process.
With CyberFirst’s report, you can advise your prospects and clients on their Business Cyber Risks, Cyber Security Posture & gaps, potential sources of loss, recent and relevant Cyber events. With these reports you can have more impactful discussions around company-specific risk mitigation or insurance strategies and security data triggers that may influence buying decisions in a positive way.
Cyber Insurance Brokers, Agents play an important role in helping clients identify and manage risk. Our goal is to empower them to quantify and explain Cyber risk exposure to the prospects without becoming experts in information security
Our solution helps companies to make informed decisions on what they need to buy Cyber Insurance Policies. The insurance brokers are playing a very important role in the whole Insurance ecosystem by connecting insurance buyers with carriers. CyberFirst is a solution to enable the growth of the cyber insurance market and support this important segment in the insurance value chain.
CyberFirst empowers brokers & Cyber Insurance providers to produce a cyber security and Cyber risk report of companies, while providing rich information to help brokers articulate their clients’ cyber exposure. It does so by leveraging cyber models that draw on data from Enterprise Data, Internal Security Data, External Security Data, Historical Loss Data and Futuristic Data. Our Solution uses the Non-Intrusive Cyber Assessment to provide instant dashboards on Cyber Maturity Review, Cyber Resilience Review, Cyber Security Review and Cyber Resilience Maturity to make informed decisions. As more underwriting information is provided, Brokers can use company-specific insights, reduce exposure and secure the appropriate coverage for their clients.
Cyber Insurance Brokers are expected to align clients’ goals, budgets and cyber exposure to the appropriate limits and optimal carrier Cyber insurance policies.
And also understanding the types of Cyber Risk scenarios that may cause financial loss and the costs that would drive losses.
Currently, the methodology of qualitative Cyber risk assessments being used by businesses are not fulfilling the Cybersecurity requirements owing to lack of visibility of financial impacts. And especially the standards-based checklists around the Cybersecurity best practices and not helping in strategizing the Cyber Security Program.
Therefore, the most important question needs to be answered is “What is my business Cyber Risk Exposure and the financial impact of this Cyber Risk?” and Which control is most effective in reducing risk?
CyberFirst provides coverage based assessments based on additional information provided within the risk assessment function to enhance discussions around coverages, limits, sub-limits and additional pre/post-loss services that may be of interest. We help organizations to quantify their Cyber risk in terms of finance to make the right decisions.
Our products empower Insurance Brokers and Insurers to:-