AWS will now share security data of companies it serves when they request to be connected with cyber insurance brokers and insurers. The members of this ecosystem predict it will cut the time to obtain cyber liability insurance from weeks to days and potentially offer discounts of up to 15%.
“Through AWS’s Cyber Insurance Competency program, customers can allow brokers access to data from their Security Hub console. This gives potential insurers a list of controls enabled on a particular account, information on vulnerabilities and other details that allow carriers to quickly evaluate applications against AWS’s standards for security best practices and their own underwriting standards, and provide policy quotes,” reports the Wall Street Journal (paywall may apply).
Brokers and carriers involved in the program, and denoted as holding AWS Cyber Insurance Competency, include Marsh, Cowbell Cyber, At-Bay, Resilience Cyber Insurance Solutions and Measured Insurance.
AWS says its working toward providing partners with the capability to offer real-time, dynamically updated pricing of cyber insurance policies.