“We’re truly excited about the cyber risk assessment capabilities we now have thanks to our partnership with Safe Security,” stated Liam Jones (pictured above left), head of enterprise improvement at Mosaic. “The technology gives us deep network visibility and puts the focus on cyber risk controls and culture. It’s a powerful differentiator to be able to link cybersecurity measures to insurance coverage in this way.”
The SAFE platform’s fashions predict the chance of cyber breaches throughout a company surroundings, MOSAIC stated. Using APIs, SAFE gathers indicators from current cybersecurity merchandise, exterior risk intelligence, and enterprise context to evaluate doable cyber publicity.
“Cyber is the most technical risk globally, but the underwriting process remains largely unscientific today,” stated Pankaj Goyal (pictured above proper), senior vice chairman of synthetic intelligence and cyber insurance coverage at Safe Security. “Safe Security is evolving cyber insurance coverage underwriting, making it data-driven via an inside-out evaluation.
“We link security controls to financial exposure, helping underwriters make faster and better insurance decisions. Mosaic has been pushing the boundaries of innovation in insurance. We are glad to partner with Mosaic’s team to help insureds become more secure.”
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Safe Security will assist Mosaic underwriters see the whole cybersecurity rating for an organization, along with business benchmarks. The platform additionally provides underwriters insights on associated monetary exposures, serving to them to find out correct protection limits and design acceptable protection and pricing.
“The insurance industry has long been encumbered by legacy systems and an underwriting process that lacks technical quantification,” stated Yosha DeLong (pictured above middle), world head of cyber at Mosaic. “Now we have the opportunity to push innovation into all aspects of our cyber underwriting for the benefit of brokers and customer partners. We look forward to working with Safe Security to help cyber underwriting evolve and accurately account for the investment our insureds are making into their cybersecurity culture.”
Cyber is the fastest-growing of Mosaic’s seven traces of enterprise. Its different traces embrace transactional legal responsibility, monetary establishments, political danger, political violence, {and professional} legal responsibility.
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