UIB Joins Forces With KYND To Address Both Cyber Risk Assessment and Risk Transfer

United Insurance Brokers (UIB) comes together with KYND, a provider of cyber risk management technology and services, to help its insureds better navigate the current landscape of cyber threats and achieve their risk transfer goals under dynamic cyber insurance market conditions.

UIB, an independent Lloyd’s insurance and reinsurance broker, forms a strategic agreement with KYND to help businesses gain control over cyber exposure and enable successful risk transfer.

The partnership sees UIB leveraging KYND START, its partner’s cyber risk assessment technology, in its implementation of a proactive risk management approach.

As the severity and frequency of cyberattacks remain 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 identify, understand and address businesses’ cyber risks can dramatically reduce the likelihood and impact of a cyberattack, helping organisations not only to shore up their defences but also ensure frictionless access to the cyber insurance market in the future.

Responding to the need for this reactive ability, the partnership will grant UIB’s potential and existing insureds access to KYND START, which will enable an outside-in view of their organisation’s attack surface alongside exposing points of vulnerability.

In addition, the cyber risk assessment technology 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.

A proactive approach to risk management
Andy Thomas, CEO and founder, KYND

Andy Thomas, KYND’s CEO and founder, recognises how the partnership’s efforts are allowing businesses to become more resilient to cyber risks by implementing “a proactive risk management approach powered by clear exposure visibility.”

As Thomas explains, this visibility comes in conjunction with UIB’s tailored cyber insurance. This combination intends to “drive a competitive advantage as well as ensure sustainability and growth in an era of digital transformation.”

Adding to this, Dimaggio Rigby, UIB’s head of cyber, media and tech risks, assures that cyber risks have now developed beyond being just 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,” Rigby explains.

He comments that the company’s KYND partnership “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.”

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.”

Image and article originally from thefintechtimes.com. Read the original article here.