Cypherleak, a pioneering cyber risk monitoring and scoring startup, has closed a $750,000 seed round. The investors are based in Abu Dhabi, Morocco, and Qatar. This investment will help drive Cypherleak’s expansion across the Middle East and Africa (MENA) region increasing its role in the cyber insurance marketplace.
Cypherleak simplifies advanced risk monitoring for smaller companies, eliminating the need for extensive cybersecurity technical expertise. By utilizing only the domain name, Cypherleak allows companies to track their leaked passwords and information on both the public web and dark web, identify their full attack surface, and detect vulnerabilities affecting their infrastructure. Furthermore, Cypherleak employs machine learning and advanced risk models to deliver customized security ratings based on many cyber risk factors.
Cypherleak’s cyber risk scoring enables insurers to accurately assess the cyber risk of prospective cyber insurance applicants. This revolutionizes how cyber insurance is underwritten in the MENA region, where SMEs are among the companies that are the most vulnerable. Cypherleak’s cyber risk monitoring capabilities also empower insurers to provide continuous value-added risk monitoring and mitigation services to their cyber-insured customers.
Lars Gehrmann, Group Chief Digital Officer at Qatar Insurance Company (QIC), says, “Cyber security is a growing topic in the MENA region. SMEs are among the companies that are the most vulnerable. Cyber insurance for SMEs is already needed and is poised to grow in the months to come. Cypherleak has demonstrated its ability to understand these new challenges. QIC Digital Venture Partners is thrilled to invest and leverage Cypherleak’s cyber security capabilities to empower its cyber insurance practice.”
Cypherleak And Cyber Insurance Underwriting
Cypherleak’s cyber risk scoring enables insurers to accurately assess the cyber risk of prospective cyber insurance applicants. This is important because cyber insurance is a relatively new product, and insurers are still developing their underwriting expertise. Cypherleak’s cyber risk scores provide insurers with a quantitative assessment of a company’s cyber risk, which helps them to make more informed underwriting decisions.
Cypherleak’s cyber risk monitoring capabilities also empower insurers to provide continuous value-added risk monitoring and mitigation services to their cyber-insured customers throughout the coverage period. This is important because cyber threats are constantly evolving, and companies need to be able to quickly identify and respond to new threats. Cypherleak’s continuous monitoring helps insurers to identify and mitigate risks before they can cause damage to their customers.
Overall, Cypherleak is a valuable tool for cyber insurance underwriters. Its cyber risk scoring and monitoring capabilities help insurers to make more informed underwriting decisions and provide better value to their customers.
Cypherleak And Cyber Insurance In The MENA region
- It is making cyber insurance more accessible to SMEs. SMEs are often priced out of enterprise cybersecurity products and services. Cypherleak’s affordable pricing makes it possible for SMEs to deploy advanced cyber risk monitoring without the need for deep cybersecurity technical knowledge.
- It is helping insurers to better assess the cyber risk of prospective cyber insurance applicants. Cypherleak’s cyber risk scores provide insurers with a quantitative assessment of a company’s cyber risk, which helps them to make more informed underwriting decisions.
- It is enabling insurers to provide continuous value-added risk monitoring and mitigation services to their cyber-insured customers. Cypherleak’s continuous monitoring helps insurers to identify and mitigate risks before they can cause damage to their customers.
Cypherleak is a valuable tool for cyber insurance underwriters in the MENA region. It is helping to make cyber insurance more accessible to SMEs, helping insurers to better assess the cyber risk of prospective cyber insurance applicants, and enabling insurers to provide continuous value-added risk monitoring and mitigation services to their cyber-insured customers.
Learn More: Cypherleak
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