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.