Cytora has entered into a partnership with cybersecurity firm DynaRisk to enhance insurers’ ability to assess and mitigate cyber risk. Cytora will incorporate DynaRisk’s cyber risk assessment data suite into its platform. This move is expected to enable underwriters to factor in various aspects of cyber risk more quickly and accurately when determining insurance quotes.
Underwriters can now use DynaRisk’s tools to determine if a company’s data has been compromised or if it is at risk of being targeted by hackers. The tools check for leaked data, dark web chatter, software vulnerabilities, and exposed high-risk internet services.
Cyber Risk Assessment
Juan de Castro, COO of Cytora, stated, “The risk of cyber attacks is escalating. Our goal with this partnership is to enhance the industry’s capacity to assess this risk accurately. We aim to deliver comprehensive insights and tools that will support insurers in making informed decisions.”
Andrew Martin, CEO of DynaRisk, commented on the collaboration. “Integrating our data with Cytora’s platform is a step forward in risk assessment. It will allow underwriters to make decisions based on a deeper understanding of cyber risks, leading to better-informed insurance offerings,” said Martin.
With this strategic cyber risk assessment move, Cytora aims to revolutionize risk assessment and underwriting accuracy. Accentuated by its recent significant growth and collaboration with Chubb, the company plans to harness the power of large language models and proprietary AI. Cytora specializes in digitizing insurance risks and pairing them with external data. Since its establishment in 2016, DynaRisk has been a pioneer in the cyber risk management arena. They offer sophisticated software and intelligence data that serves a vast array of clients worldwide.
Source: Cytora and DynaRisk partner to help insurers understand and reduce cyber risk.
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