Cyber Risk Assessment

More and more businesses are reliant on online services. Whether it is emailing customers, browsing the internet or paying suppliers, companies are digitally connected. However, having a digital presence exposes every business of every size and in every sector to multiple cyber threats.

A new report from Business Insider Intelligence forecasts there will be 34 billion devices connected to the Internet by 2020. Think about: smart cars, fridges, thermostats, TVs, alarm systems and more. Simply put, this is the concept of connecting any device with an on and off switch to the Internet.

Cyber risk is now a major threat to businesses.

So what does it mean to insurance companies and brokers? How can an underwriter consider a business’ third-party interruption risk? How can accurately price a coverage?

A data breach or cyber attack causes business and reputational damage, as well as regulatory and compliance issues. With a simple-to-understand output, it gives insurers, and professionals the expert knowledge to easily assess cyber risk, and highlight vulnerabilities.
Cyber risk is much more than just hacking and it involves internal and external risks, product risk, third-party risk and aggregations risk, such as service provider and supplier failure, human errors, software obsolescence, and upstream internet and network interruptions.

A new report from Business Insider Intelligence forecasts there will be 34 billion devices connected to the Internet by 2020. Think about: smart cars, fridges, thermostats, TVs, alarm systems and more. Simply put, this is the concept of connecting any device with an on and off switch to the Internet.

Do you understand what Cyber Risk involves?

cyber-risk


With CYBER CHECK powered by KYND™, you can quickly understand the risk exposure of prospective and existing business clients:

  • Cyber Check performs immediate screening and provides a report detailing any company’s cyber risk exposure.
  • The service is quick and easy to use and IT expertise is not required.
  • The system is non-invasive, requiring only the company domain name and responses to a short set of questions in order to perform the cyber risk screening.
  • The intuitive report is delivered using the universal traffic light system, ‘red, amber, green’, to indicate risk severity.

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CRIF has recently enriched its risk management solutions with CYBER CHECK, a product powered by KYND, to help businesses understand their cyber risks and mitigate them. CRIF is a major investor of KYND, a pioneering cyber risk management company headquartered in London and founded in February 2018.

ID Check

From a wealth of powerful data, an easy to understand identity verification and risk assessment report is produced. Combining a brief results summary with a detailed granular report, ID Check delivers identity verification tools which are both user-friendly and highly informative as well as a corresponding score.

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