Last Updated on: 21st November 2023, 09:23 pm
KYND Limited, a provider of cutting-edge cyber risk management technology and services, today announced its brand-new partnership with United Insurance Brokers Limited (UIB), a leading independent Lloyd’s insurance and reinsurance broker. Under this strategic agreement, the UIB team will leverage KYND’s industry-leading START Reports to support KYND and UIB’s common mission to help businesses successfully navigate today’s ever-evolving cyber threat landscape and achieve their risk transfer goals under dynamic cyber insurance market conditions.
As the severity and frequency of cyber-attacks remains high around the world, businesses are increasingly looking for effective risk management solutions along with cyber liability insurance to take a more proactive stance against digital perils. In today’s ever-expanding threat landscape, the ability to quickly identify, understand, and address businesses’ cyber risks can dramatically reduce the likelihood and impact of a cyber-attack, helping organisations not only to shore up their defences but also ensure frictionless access to the cyber insurance market in the future.
The newly formed partnership between KYND and UIB allows the implementation of a proactive risk management approach across both directions. UIB’s potential and existing insureds will now benefit from access to KYND START. Built on KYND’s proprietary technology, the non-intrusive risk assessment instantly empowers prospects with an industry-leading outside-in view of their organisation’s attack surface, helping to navigate exactly where their vulnerabilities are. In addition, it provides a prioritised remediation action plan designed to aid organisations in improving cyber hygiene, building resilience, and successfully boosting their insurability ahead of submission or renewal.
Andy Thomas, KYND’s CEO and Founder, commented: “We are delighted to work together with UIBL and share their vision on how the corporate world should refine the way it manages digital risk to stay ahead of the curve. Through the joint efforts of KYND and UIB, businesses can now become more resilient to cyber risk by implementing a proactive risk management approach powered by instant, clear exposure visibility, and successfully secure the right cyber insurance tailored to their needs to drive a competitive advantage as well as ensure sustainability and growth in an era of digital transformation.”
Dimaggio Rigby, UIB’s Head of Cyber, Media and Tech Risks, added: “Gone are the days when cyber risks were simply considered to be an IT problem. Today, the rise of advanced digital threats means that this is now firmly a business issue – and more importantly – requires organisations to be proactive in identifying and understanding their risks, just as cybercriminals would. Our partnership with KYND epitomises our forward-thinking approach to complex cyber risks and arms our team and clients with the timely and actionable risk intelligence that is critical to keeping pace with today’s tumultuous cyber threat landscape and the volatile market dynamics.” Cyber, Media and Tech Risks is part of Corporate and Capital Risks, which sits within the UIB Specialty Lines Division.
Shaun Barrington, UIB’s CEO, added: “We have always believed in countering threats before they become an issue for our clients. Cyber is one of these growing risks and we are delighted to be partnering with KYND to strengthen our offering in this field.”
About KYND
KYND is on a mission to make complex cyber risks easy to understand and manage. KYND’s next-generation technology makes assessing, understanding, and managing cyber risks easier and quicker than ever before and is used by insurers, brokers, and their clients. Recognising one size doesn’t fit all, KYND has designed made-to-measure InsurTech products that work for any size business, from any industry, anywhere in the world.
KYND’s unparalleled cyber-risk management tools not only enable accelerated sales of cyber policies, speeds up renewal and helps control client risk but also supports better underwriting decisions by removing complexity, providing instant insight into cyber risk profile while reducing insured’s risk exposure with continuous monitoring and alerts.
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About UIB
United Insurance Brokers is an independent international insurance and reinsurance broker headquartered in London. United Insurance Brokers limited (UIBL) is part of this group and enjoys strong relationships with clients across the globe.
