Cyber risk analytics provider CyberCube recently launched CAERS, a new cyber incident response service “for clients of the company’s SaaS products.”
The Cyber Aggregation Event Response Service (CAERS) will see CyberCube partnering with Kroll, the provider of data, technology and insights related to risk, governance and growth, to “provide CyberCube’s clients with information and guidance on major cyber aggregation events.”
Kroll will “provide frontline threat intelligence generated from the thousands of incident response cases it handles every year.”
Following a major cyber event, the CAERS team “will update CyberCube’s clients with the latest information while CyberCube’s SaaS products, including Broker Manager, Account Manager and Portfolio Manager, will assist with a response to any unfolding cyber catastrophe.”
Darren Thomson, CyberCube’s Head of Cyber Intelligence Services, said:
“With cyber events becoming increasingly common, the speed and accuracy with which organisations respond to them is critical. That’s why we’ve launched this response service, specifically tailored to CyberCube’s growing client base. The pressure on our clients during a major cyberattack can be extreme. With CAERS, our team—comprising data scientists, actuaries, engineers, economists and cyber security experts—will become an extension of our clients’ teams, providing the updates they need and sharing both our expertise and data.”
Benedetto Demonte, Chief Operating Officer for Kroll’s Cyber Risk practice, said:
“We’re pleased to be contributing to CAERS because effective incident response depends on the most current and relevant threat intelligence available. In our most recentThreat Landscape Report, we saw a 356% growth in the number of attacks quarter-on-quarter where the infection vector was a zero-day or freshly-announced software exploit. Ransomware groups have also been found to be leveraging newly announced vulnerabilities just days after release. It is only with access to frontline intelligence that firms can prioritize resources, mitigate the risk of a cyberattack and react appropriately if the worst happens.”
CyberCube’s products, including Portfolio Manager, Broking Manager and Account Manager, are “designed for insurance intermediaries and risk carriers and are used by leading companies across the insurance ecosystem.”
As noted in the update, CyberCube “delivers the world’s leading analytics to quantify cyber risk for the insurance industry.”
With “best-in-class” data access and advanced multi-disciplinary analytics, the company’s cloud-based platform “helps insurance organizations make better decisions when placing insurance, underwriting cyber risk and managing cyber risk aggregation.”
CyberCube’s enterprise intelligence layer “provides insights on millions of companies globally and includes modeling on thousands of points of technology failure.”
The CyberCube platform was “established in 2015 within Symantec and now operates as a standalone company exclusively focused on the insurance industry, with access to an unparalleled ecosystem of data partners and backing from ForgePoint Capital, HSCM Bermuda, MTech Capital and individuals from Stone Point Capital.”
As mentioned in the announcement, Kroll “provides proprietary data, technology and insights to help our clients stay ahead of complex demands related to risk, governance and growth.”
They solutions “deliver a powerful competitive advantage, enabling faster, smarter and more sustainable decisions.”
With 5,000 experts around the world, they “create value and impact for our clients and communities.”