Mosaic Insurance has launched a platform powered by California-based Safe Security to help underwriters evaluate cyber risk for brokers and insureds.
Safe Security’s cyber risk assessment platform (also known as SAFE) offers a real-time view of the extent and nature of a company’s enterprise-wide cyber risk, allowing accurate exposure analysis, coverage and pricing for brokers and insureds.
The platform helps Mosaic underwriters see the comprehensive cybersecurity score of a company, along with industry benchmarks. It also provides insights on related financial exposure, enabling underwriters to determine adequate coverage limits and ultimately design appropriate coverage and pricing for the insured.
Liam Jones, head of business development at Mosaic, says: “We’re truly excited about the cyber risk assessment capabilities we now have, thanks to our partnership with Safe Security. The technology gives us deep network visibility and puts the focus on cyber risk controls and culture. It’s a powerful differentiator to be able to link cybersecurity measures to insurance coverage in this way.”
Pankaj Goyal, senior vice president of artificial intelligence and cyber insurance at Safe Security, adds: “Safe Security is evolving cyber insurance underwriting, making it data-driven through an inside-out analysis. We link security controls to financial exposure, helping underwriters make faster and better insurance decisions. We are glad to partner with Mosaic’s team to help insureds become more secure.”
