Threatinformer: Simplifying Cyber Effective Risk Modeling

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Ryan Jones, CEO, ThreatinformerRyan Jones, CEO Cyber insurance is an evolving landscape and is growing with tremendous traction within the modern corporate universe. As the industry makes its mark as one of the most definite contenders for the future leaders of the digital economy, the cyber insurance today has few roadblocks on its way to that its needs to address before achieving that stature. Given that it's a new vertical with more growing to do, the risks are quite significant. From the lack of historical and cyber data to perform accurate underwriting to inadequate awareness of risks and cyber attacks, the cyber insurance businesses have a rough terrain to cross. Enabling these businesses to excel and eliminate the said roadblocks easily is a London based firm – ThreatInformer.

Backed by unique knowledge and experience in cyber risk management, incident response and threat intelligence, ThreatInformer's team brings a wide range of product portfolio designed to address the unique problems of Cyber insurance landscape. ThreatInformer brings together a team with cyber insurance, incident response, threat intelligence, and platform development experience. With a deep understanding of the insurance business, the company uses its technical expertise and experience in creating value for brokers, underwriters, and reinsurers. As a professional and reliable partner for its customers, ThreatInformer prides itself in knowing the intricate know-how, dynamics, and the natural language of insurance businesses.

ThreatInformer's team practices a unique methodology of working closely with its clients and identifies various ways on how they can make their technology work for the client's business. The company provides clear and actionable Cyber risk data to brokers, underwriters and reinsurers. Leveraging ThreatInfromer's technology brokers are able to use the company's data to engage with their clients on cyber risk. Underwriters are also highly benefitted as they can assess the risk of a specific insured as well as managing risk across their portfolio. The company's products enable reinsurers to manage cedant disclosure, get aggregate data that goes beyond geography, class, and industry, to create a concrete foundation for their cyber risk models. ThreatInformer replaces subjective metrics, ambiguous risk scores, and black box models with consistent, verifiable risk data tailored to the needs of insurance. The company efficiently maps risk data against coverage areas and filters perils relevant to the customer's policy. The client can make decisions with risk data that is specific to proposers, insureds, and portfolios.

Brokers, underwriters, and reinsurers that use ThreatInformer have a high success rate owing to the dexterity of ThreatInformer's expertise in the field. With detailed reports, the company transforms insurance professionals into trusted advisors, as assumptions in risk models are replaced with data. Moreover, the company's products enable the client to indentify and highlight high-risk insureds as well as offer low-risk insureds with market-leading pricing. With a relentless focus on the cyber insurance industry, the company provides insights to transform the way risks are placed and written.

"ThreatInformer puts reinsurers in control of cyber risk data, customizing it to their sources. The company puts insurers back in control and restores trust in risk models"

Unmatched Technology

ThreatInformer starts with a company name and domain name to find, identify, and collect data on external IT systems. The company's technology processes this raw data to create a unique Cyber Profile that shows key cyber risk data for any organization, irrespective of size and location. ThreatInformer's data shows the client what's at risk, the business context, and the level of protection. The company's speed and low friction aim to support automation of broker's, underwriter's, and reinsurer's existing processes and technologies. The company provides innumerable options to its clients for consuming and using ThreatInformer's data via the web, PDF, Excel, or JSON.

ThreatInformer helps the client to work with brokers to get cyber risk data on organizations in a standardized format, in real-time. The company helps the customer to make questionnaires shorter, leading to fewer completion errors. This enables the client to see each proposer's cyber risk in the context of the portfolio that they were building and the risks that they want to write. By leveraging a report that shows the cyber risks specific to a proposer, the customers can create demand and drive broker campaigns with Spark. The underwriters can close deals and demonstrate cyber expertise with Coverview, a report that shows why the policy that they are selling is the right option for a proposer's cyber risk.

ThreatInformer's unique cyber profile provides underwriters with insight on a proposer or insured to show what's being insured, the business context, and what protections the organization has against cyber risk. By automatically mapping each cyber profile to specific covers provides them with context for limits, retentions, and premiums. Eliminating more questionnaires, ThreatInformer's data comes in a standardized format that is factual, consistent and supports benchmarking at a portfolio level. Underwriters can use ThreatInformer's data to automate decision-making processes and save significant amounts of time on pricing risk while writing more cyber.

Given that it is highly difficult to manage Cyber portfolio risk using Geography, Turnover, and Industry due to structural cyber risk accumulation factors, ThreatInformer provides its users with a real-time data on system location, software usage, and cloud vendors. The company's data has no black box sources and is customized to be a concrete foundation for the client's Cyber risk models.

A Spark report enables insurance brokers to speak with prospects about their organization's specific cyber risks. All they need is the company name and their domain, and eventually, they can show their clients all their cyber risks. The company also provides brokers a way to demonstrate Cyber expertise and engage with new or existing clients using a tailored risk profile.
The ThreatInformer Coverview report identifies each prospect's cyber risk, the cover that will meet their needs, and demonstrates the client how one is the right broker to help place those risks. The brokers can customize a Coverview report to a preferred underwriter's policy and sell it more to get his prospects better premiums.

After binding, the brokers can provide their clients with actionable advice on risk management and create further revenue by referring preferred cybersecurity partners. By this way, they can significantly help their clients lower their cyber risk and make renewal easier.

"As a professional and reliable partner for its customers, ThreatInformer prides itself in knowing the intricate know-howw, dynamics and the intrinsic language of insurance businesses"

The Reinsurance Angle

When there's no single source of data on a portfolio's risks buying reinsurance becomes complicated and time-consuming. ThreatInformer provides reinsurers with granular data on each insured in a cedant's portfolio to show what was insured, the business context, and each insured's protection. The company's data helps reinsurers work with ceding companies to get the right product, protection, and pricing for risk transfer. The traditional attributes of Geography, Industry, and Turnover give reinsurers limited insight for managing and modeling risk accumulation. However, with ThreatInformer, insurers can see the data on factors that are relevant to Cyber risk accumulation including system location, software usage, cloud vendors, DNS, SSL certificates, domain registrars and email providers. They don't need to guess or make assumptions anymore, as they can use data that's a concrete foundation for models, track accumulation, and get a preferred spread of risk. Vendor and third party risk models are a black box with no indication of how the data is collected and processed, the assumptions used, and no control for the end user. ThreatInformer puts reinsurers in control of cyber risk data, customizing it to their sources. The company puts insurers back in control and restores trust in risk models. The level of data provided by ThreatInformer also makes it possible to run Realistic Disaster Scenarios when combined with an insurer's financial data.