Underwriting firm Mosaic Insurance has partnered with Safe Security to use its award-winning SAFE platform to help underwriters assess cyber risks for brokers and policyholders.
The platform provides a real-time view of the extent and nature of a company’s cyber risk across the enterprise, enabling analysis of exposure, coverage and pricing. more precise for brokers and policyholders.
SAFE’s machine learning models predict the likelihood of cyber breaches in an enterprise environment. At the same time, it accumulates signals – using APIs – from existing cybersecurity products, external threat intelligence, and business context to provide unprecedented visibility into potential cyber exposure.
Using Safe Insurance’s platform, Mosaic underwriters will also be able to view a company’s full cybersecurity score, as well as industry benchmarks.
In addition, it also provides information on related financial exposure, allowing underwriters to determine adequate coverage limits and ultimately design appropriate coverage and pricing for the insured.
Liam Jones, Business Development Manager at Mosaic, said, “We are really excited about the cyber risk assessment capabilities we now have, thanks to our partnership with Safe Security.
“The technology gives us deep network visibility and emphasizes cyber risk controls and culture. It’s a powerful differentiator to be able to tie cybersecurity measures to insurance coverage in this way. »
Yosha DeLong, Global Head of Cybersecurity at Mosaic, said, “The insurance industry has long been cluttered with legacy systems and an underwriting process that lacks technical quantification.”
“Now we have the opportunity to drive innovation in all aspects of our cyber underwriting for the benefit of brokers and client partners. We look forward to working with Safe Security to help cyber underwriting evolve and accurately reflect the investment our policyholders are making in their cyber security culture.
