KYND is on a mission to make complex cyber risks easy to understand and manage.
Filhet-Allard, which has positioned itself as a leading provider of insurance brokerage, risk management and employee benefits solutions in France, selected KYND to meet the needs of business amid the growing threat landscape.
The partnership aims to enable frictionless cyber insurance applications and renewals for Filhet-Allard’s extensive client portfolio through promoting insureds’ improved cyber resilience.
According to KYND, the partnership comes at a time when the number of incidents threatening the public and private sector have risen.
For example, Europe was subject to 43% of global ransomware attacks, and the UK and France head the list of the most targeted countries in the world by ransomware attackers. The number of supply chain incidents, in turn, quadrupled in 2021 compared with 2020, KYND added.
Facing the prospect of major financial fallout from a single successful incident, businesses are increasingly looking for cyber coverage. But heightened underwriting scrutiny and increased premiums have created new barriers to addressing the largest growing risk through cyber insurance, for brokers and insureds alike.
The KYND and Filhet-Allard partnership sets out to enable businesses to obtain adequate insurance coverage at favourable terms and pricing, despite the market conditions.
Andy Thomas, KYND’s CEO and founder, said, “We are delighted Filhet-Allard has chosen KYND to join their enhanced 360° cyber risk management service; and we fully support their vision on a preventative approach to cyber threats through achieving cyber resilience. In the era of digital threats being at the top of each organisations’ agenda, the constantly growing threat landscape calls for a collaborative approach that brings together actionable threat intelligence and world-class industry experts to build effective and efficient solutions for businesses, which is exactly what this partnership is about.
Earlier this year, KYND partnered with United Insurance Brokers (UIB) to help businesses gain control over cyber exposure.
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
Copyright © 2018 RegTech Analyst