Last Updated on: 21st November 2023, 09:12 pm
KYND Limited, a provider of cutting-edge cyber risk management technology and services, has announced a strategic partnership with Nirvana, a UK-based specialty Managing General Agent (MGA). This collaboration aims to empower Nirvana’s underwriting team with advanced and actionable insights into organisational cyber exposure, enabling them to make efficient, data-driven decisions regarding risk selection and ultimately optimise portfolio profitability.
Given the increasing prevalence of ransomware attacks, data breaches, and phishing incidents as the primary causes of cyber insurance claims in the past year, the insurance industry now places significant emphasis on relevant and timely cyber intelligence to make informed decisions about selecting and pricing digital risks. Through this partnership, Nirvana’s underwriting team will gain access to KYND Signals Client Reports, KYND’s latest initiative that offers an insurance-focused view of an organisation’s cyber risk profile. These reports highlight critical risk indicators considered during the underwriting process.
By leveraging KYND’s advanced, actionable risk analysis and extensive industry expertise, this collaboration aims to strengthen the MGA’s assessment practices, maintain portfolio quality, and ultimately mitigate potential losses. Importantly, the actionable and prioritised risk insights provided by the reports can be used by underwriters to guide prospective insureds in enhancing their cyber defenses.
Andy Thomas, CEO, and Founder of KYND, stated: “We extend a warm welcome to Nirvana as the latest member of our valued client community. At KYND, our foundational mission has been to provide businesses with the tools and intelligence they need to confidently navigate the digital landscape. We’re delighted that Nirvana has chosen KYND as their partner to further enhance their cyber capabilities and look forward to arming Nirvana’s underwriters with actionable insights for more astute risk selection. This, in turn, will pave the way of a more resilient portfolio, sustainable growth and enhanced book value.”
Rob Jones, Executive Chairman and Head of Media, Technology, and Cyber at Nirvana, remarked: “In today’s complex and dynamic risk environment, we’re excited about the transformative potential this new partnership holds. Integrating KYND’s insight into our cyber arsenal will not only support the sustainable and profitable growth of our cyber portfolio, but will also become an integral component in aiding our customers to strengthen their digital defences and mitigate risks before they escalate into cyber incidents.”
