Enhance your cyber insurance offer & increase your revenue streams
More and more businesses are reliant on online services. Having a digital presence exposes every business of every size and in every sector to multiple cyber threats. A data breach or cyber attack might cause business and reputational damage, as well as regulatory and compliance issues.
A 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 this means for insurance companies? How can an underwriter consider a business’s third-party interruption risk and offer cyber insurance cover given the limited historical data and dynamic nature of cyber risk?
With CYBER CHECK powered by KYND™, you can quickly understand the risk exposure of your prospective and existing business clients.
How Cyber Check works
What are the benefits for insurers?
- Cyber Check supports the upselling of cyber insurance cover to clients
- It allows insurers to stand out from competitors with an innovative cyber protection product bundled with cyber insurance cover
- It increases revenues by cross-selling an added-value product to SMEs.
Increase your revenue streams in 4 steps
- Capture the domain name during the customer quotation journey to run a cyber risk scan in the background
- Show your clients their potential cyber risk exposure in real time
- Use the cyber risk exposure summary to highlight the business risks they are facing
- Sell more cyber policies and bundle with Cyber Check to provide an added-value offer and help protect your clients.
Choose your Cyber Check package:
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.
White Papers on Cyber Risk
Cyber risk continues to evolve at speed, but as a relatively new risk there is very little data available to build defences against emerging trends (intellectual property, IoT).
What are some of the new emerging threats to UK businesses?
The SME Insurance Risk Survey commissioned by Crif Decision Solutions in partnership with Post has revealed some surprising findings. It would appear that many insurance providers and brokers are not equipped to accurately assess and subsequently price small to medium-sized enterprise cyber risk.