In a strategic move to fortify its position in the face of escalating cyber threats, KYND Limited, a leading cyber risk management company, has joined forces with Consilium, the international insurance broker. The collaboration aims to empower Consilium’s insurance brokers with KYND’s cyber risk assessments, facilitating a comprehensive understanding of clients’ exposure. This initiative is poised to capitalize on the surging demand in the cyber insurance market. Some research projects the sector will grow from $10.3 billion in 2023 to $17.6 billion by 2028.
Recognizing businesses often lack awareness of their cyber risk, Consilium seeks to address this gap by integrating KYND’s industry-leading risk assessments into their offerings. To enhance risk management capabilities, Consilium will leverage KYND’s START Reports, providing instant and non-intrusive vulnerability assessments. The collaboration also includes the adoption of KYND SIGNALS Client Reports. This offers a tailored view of risks considered by insurers, supporting Consilium’s clients in enhancing their cyber risk profile and ensuring suitability for coverage.
Cyber Risk Management
CEO and Founder of KYND, Andy Thomas, expressed enthusiasm about the partnership. “We’re delighted to welcome Consilium as our newest valued broker partner. As cyber coverage becomes an integral part of every organisation’s overall cyber security strategy,” said Thomas.
Tom Abbotts, Associate Partner, Cyber Tech & Fintech at Consilium, highlighted the collaborative nature of the partnership. Abbotts emphasized the importance of combining industry expertise with innovative technologies. “As staunch supporters of digital transformation as a catalyst for businesses, we at Consilium fully understand the risks it entails in today’s highly interconnected era. Helping businesses to navigate this complex and ever-evolving landscape with confidence necessitates a collaborative approach,” said Abbotts.
The collaboration reflects a proactive industry trend and approach to cyber risk management and the growing importance of cyber insurance.
Source: Consilium partners with KYND to fuel cyber growth through unrivalled risk intelligence
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