Verisk, BlueVoyant Forge Strategic Partnership to Drive Cyber Risk Insights for Insurance Organizations
Exclusive Partnership Enables Verisk Cyber Solutions to Deliver Unparalleled Cyber Risk Data and Analytics to Insurance Industry
JERSEY CITY, N.J., December 2, 2020 – Verisk (Nasdaq: VRSK), a leading data and analytics company, and BlueVoyant, a cybersecurity services company, have announced a strategic partnership that will enable Verisk to exclusively offer insights driven by BlueVoyant’s industry-leading cybersecurity monitoring technology to insurers through the Verisk Cyber Solutions Suite.
“Our cybersecurity solutions help hundreds of companies worldwide monitor and defend their IT and network infrastructure against relentless and ever-evolving cyber threats,” said Jim Penrose, Chief Operating Officer at BlueVoyant. “Incorporating our Cyber Risk Management findings on hundreds of thousands of firms we track daily into Verisk Cyber Solutions gives cyber insurers unparalleled visibility into a prospect’s cybersecurity posture. This helps them to better understand, model, and underwrite the risk exposures they’re analyzing. This timely information is absolutely critical to keep pace with today’s dynamic cyber risks and the aggregate impact they could have on insurer portfolios. Cyber insurance is a cornerstone of risk management that goes hand-in-hand with driving risk out of your own vendor ecosystem.”
Unlike many traditional insurance risks, cyber risks are often extremely difficult for many insurers to quantify through conventional measures, such as questionnaires and inspections. Cyber risks, in general, can also contribute to major loss events, as many businesses rely on the same operating, email, and cloud-based systems. By integrating BlueVoyant’s risk data, technology, and expertise into its cyber solutions, Verisk can deliver real-time analytics on critical metrics that can help reveal the cyber risks faced by prospects and those currently insured.
“As a managed security services provider, BlueVoyant is at the cutting edge of cyber defense,” said Prashant Pai, vice president and general manager, Verisk Cyber Solutions. “Our exclusive partnership will bring the real-time cybersecurity intelligence only BlueVoyant can provide into the Verisk Cyber Solutions suite. BlueVoyant's data and intelligence, paired with Verisk's expertise and proprietary datasets, will drive unique, comprehensive, and detailed insights.”
Verisk's Cyber Solutions Suite is an end-to-end ecosystem built on a database with information from more than 100 million worldwide businesses. The suite provides a wide range of products and services, including advisory policy language, advisory prospective loss costs, underwriting analytics and scoring, exposure management, aggregation modeling, and workflow capabilities.
Verisk (Nasdaq:VRSK) provides predictive analytics and decision-support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social, and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook, and YouTube.
BlueVoyant is an expert-driven cybersecurity services company whose mission is to proactively defend organizations of all sizes against today’s constant, sophisticated attackers and advanced threats. Led by CEO, Jim Rosenthal, BlueVoyant’s highly skilled team includes former government cyber officials with extensive frontline experience in responding to advanced cyber threats on behalf of the National Security Agency, Federal Bureau of Investigation, Unit 8200 and GCHQ, together with private sector experts. BlueVoyant services utilize large real-time datasets with industry-leading analytics and technologies.
Founded in 2017 by Fortune 500 executives, including Executive Chairman Tom Glocer and former Government cyber officials, BlueVoyant is headquartered in New York City and has offices in Maryland, Tel Aviv, San Francisco, Manila, Toronto, London and Latin America. For more information, please visit www.bluevoyant.com
Edelman (for Verisk)
BlueVoyant Media Contacts:
C8 Consulting (USA)
T: 001 410-302-9459