In a world where ransomware attacks surpass $7.5B annually and new cyberattacks occur every 39 seconds, your business is constantly vulnerable to unseen threats. As risk grows, so does complexity, making it harder to obtain cyber insurance to hedge against those risks. As a result, more than 80% of cyber insurance applications today are denied, standards for underwriting are becoming more stringent, and there’s an increased need to accurately measure the real risk and severity that lives within a company.
For those who do secure coverage, premiums are rising at exponential rates and coverage limits are dropping precipitously. As a result, your business is left bare and there’s not much you can do to hedge against cyber risk — until now.
The SecondSight Renewal Readiness Program creates a better, more accurate digital risk profile no matter where you are in the renewal cycle. We single-handedly increase in the number of companies that get covered — and the places in which coverage originates — thanks to a recommendation system that connects companies at risk with companies and tech that help eliminate and manage risk.
- Black Hawk
Getting cyber coverage has become a crisis — but it doesn’t need to be. Renewal Readiness is continuous risk intelligence that makes your company more insurable. It’s how you can quantify and hedge your digital risk, achieve renewal, and keep coverage.
We give you the ability to provide quantified data during the underwriting process on the real digital risk that lives within your organization for the first time. Within a matter of days, you’ll have a high-resolution view of your digital assets and liabilities — and an accurate picture of how much risk exists and exactly where it lives. In short, we enable a powerful, always-on ability to understand the digital behaviors that could damage your organization.
When you understand what digital assets you have, you can actively manage risk with remediation services that protect your critical assets with off-network backups. Getting renewal ready with SecondSight also means that you’ve enabled always-on digital risk discovery — like telematics on a fleet of vehicles. As a result, you’ll confidently know the speed risk is changing, what locations have the highest concentration, and what behaviors are causing it. Well ensure you’re always renewal ready, and make being uninsurable a thing of the past.
The underwriting process for cyber insurance is getting increasingly more technical and time-consuming for brokers as requirements for getting coverage increases in complexity. This complexity won’t change; it will continue as underwriters ask for more accurate quantification of what data exists inside the company. As regulations expand across the globe, it’s increasingly more essential to know precisely how much data is associated with each regulation. If redundant identities or content exist, it will massively skew the risk profile, which can negatively impact your customers with a denial or a poorly sized policy. Until now.
During a renewal period, we allow you to quickly and accurately answer questions about the scale and scope of risk that exists inside a company — a feat that was previously impossible. To create efficiency in the renewal period and to give your customers a better chance and insurability, we designed our Renewal Readiness Audit. We first baseline your customers' current risk using our Autonomous Asset Discovery product, which results in a risk reduction roadmap — a step-by-step guide to the actions that will create the best possible risk profile to present underwriting.
And to make the process as hands-off as possible, we assign a renewal analyst to manage the process — from baselining the risk to certifying the risk profile. In addition, our post-bind quarterly risk audits give brokers a reason to engage and help coach clients on risks profile ahead of the next renewal window. These consulting sessions help streamline the process and give evidence of proactive risk management behaviors to justify better rates and coverage.
Underwriters are flying blind, without a clear understanding of the real risk and severity that exists inside a company’s digital ecosystems. This lack of transparency makes it nearly impossible to confidently write a policy that won’t impact the loss ratios, causing high rates of declines. The ones losing in this model are people trying to operate their businesses with no coverage in the event of a ransom attack.
Investments by companies of all sizes in digital businesses are creating risk at a rate that traditional underwriting methods can’t keep up with since they weren’t designed as digital-first. Historically, a risk engineer is sent out to analyze, assess and provide a report back physically — but the equivalent didn’t exist in the digital dimension until today.
Our Autonomous Digital Asset Discovery and Digital, Risk Management capabilities survey profiles and assess unstructured and structured data to provide a baseline readout in hours or days, depending on the size. This digital risk engineer never sleeps; after the initial baseline, it’s constantly monitoring for changes in risk profiles.
Having a digital risk engineer as an extension of your underwriting team will radically increase transparency throughout the entire process so the insured can take the necessary actions to protect what matters and purge what's unnecessary. Underwriters can now see the real risk so the right coverage can be issued — and they can access quantified views directly in their underwriting platforms via API or through our underwriters portal.
Our Renewal Panel connects people at risk with those who can help reduce that risk to ensure companies can get insured in the current market. MSPs play a critical role in helping organizations get renewal ready — and stay that way throughout the year.
Our Autonomous Digital Asset Discovery and Digital Risk Management capabilities provide a surgical analysis of where risk lies so it can be mitigated pre- and post-bind. The result for you as an MSP is the ability to offer proactive digital risk management solutions for your customers, as well as lowering your company’s overall risk and ultimately increasing your insurability. To streamline the process of deploying our Autonomous Digital Asset Discovery and Digital Risk Management capabilities, we created an MSP client management hub that helps you understand the exposure of your clients, and gives you precise recommendations on what to purge, air gap or archive.
The speed, accuracy and scale of our AI means you don't have to deploy a team of analysts.
Only Reveles delivers the ability to enhance your existing workflows with AI.
We understand the number of encrypted files and track changes in patterns to help you prevent assets from being ransomed.
Each day, Reveles is autonomously building a historical view of the insured’s changing risk severity.
Reveles gives you access to our Risk Reduction Marketplace, with a wide variety of partners to help immediately with remediation.
Our ongoing monitoring and measurement means protection long after insurance is attained.