Safe Security has launched a cybersecurity-focused MGA called SafeInside Insurance.
In a statement, the company said MGA is leveraging API-based cyber risk telemetry and quantified insights to underwrite cyber insurance.
Backed by AM Best’s ‘A’ rated insurers and a panel of prominent global reinsurance partners, SafeInside introduces policies for businesses hosted on one or a combination of public cloud service providers and SaaS solutions doing.
Saket Modi, co-founder and CEO of Safe Security, said: Our vision is to establish a new de facto industry standard for how cyber insurance is underwritten, increasing transparency between cybersecurity investments and cyber insurance. ”
He added: Safe Security helps insurance buyers obtain the right cyber insurance policy at the right price for their organization’s specific requirements, while helping brokers and underwriters make more informed decisions. , we look forward to helping you dynamically adjust your portfolio. ”
The underwriting process through SafeInside takes less than 20 minutes to assess an organization, according to the company. All insured persons also receive access to the SAFE CRQM platform. The platform uses APIs from existing cybersecurity products, external threat intelligence, and business context to simultaneously accumulate signals to identify potential areas of cyber exposure and the precise Visualize financial risk.
Safe Security also provides access to its cyber risk quantification platform to other insurers and reinsurers. Safe Security recently announced a partnership with Mosaic Insurance to provide real-time cyber risk assessment.
Steven Schwartz, vice president of insurance strategy and underwriting at Safe Security, said: The team thinks they are in action. ”
He added: We are working with the entire insurance ecosystem to improve cyber underwriting standards. ”