Cyber risk technology developer KYND has partnered with digital risk processing platform Cytora to improve underwriting for cyber insurers.
Through the partnership, insurers will have the capability to automatically embed KYND’s advanced cyber risk management technology within Cytora’s risk digitalisation platform. This will enable improved insights and faster decision-making capabilities.
The companies describe the “one-stop shop” partnership as a huge step towards increasing the accuracy and speed of data-driven assessments and decision-making by underwriters. Its advanced technology stack will empower insurers to quickly assess organisations’ risk, while reducing reliance on manual processes.
Speaking on the partnership, KYND CEO and founder Andy Thomas said, “We are extremely pleased to begin this new partnership with Cytora. In an increasingly automated and data-driven environment, the cyber insurance industry has hit that point where to secure a sustainable advantage in the face of the ever-changing threat landscape, insurers need to maximise their data insights and enhance their underwriting processes.
“This partnership and the “one-stop shop” approach gives underwriters the data and support they really need to quickly and easily assess risk in an organisation – delivered with the agility, ease and accuracy needed to succeed in this expanding market!”
KYND has had a busy year. It recently launched its services into the investment management sector, as cyber risks continue to surge. Venture capital and private equity firms have access to KYND’s risk management technology and advisory support. This gives them better visibility and reduce complex cyber risks that affect investments.
The InsurTech company also recently released its industry-first KYND Ready for Brokers service. The tool enables brokers to successfully and quickly secure adequate cyber coverage for clients and improve their own organisations’ cyber risk profile.
The solution helps brokers and clients successfully transfer cyber risk as threats from ransomware and cyber-attacks rises.
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