Insurers and reinsurers can now evaluate, price, and underwrite cyber insurance policies with the help of Hub Cyber Security’s new cyber risk management solution.
FREMONT, CA:SinanGeylani, VIT, Founder & CEO said: “At Virtual i, we are committed to breaking down the inertia and outdated paradigms in the insurance industry by utilizing cutting-edge technologies and next-gen insurance solutions. Being the insurance innovation center, we are constantly pushing the boundaries of what is possible in the insurance sector. Our partnership with HUB has allowed us to solve one of the most fundamental problems in cyber insurance by providing high-security solutions through our innovative center. This partnership makes cyber insurance more accessible, affordable, and secure for micro, small, and medium-sized businesses. With our vision to become the center of gravity for innovation in the insurance sector, we are paving the way for a more secure, accessible, and sustainable future for the insurance sector. We are proud to be leading the way toward this transformative future.”
A Confidential Computing cybersecurity solutions and services, HUB Cyber Security, revealed a cyber risk management solution that allows insurance carriers and reinsurers to effectively evaluate, price, and underwrite cyber insurance policies. Insurance companies can store their files in a secure vault, reducing the likelihood of being attacked and minimizing the risk of losing or corrupting data. Thus, this technology enables insurance to redefine the addressable market, as it can be much more affordable.
Uzi Moskowitz, CEO of HUB Security added: “The new Hub solution provides a twofold advantage: supplemental redundancy of data secured at its highest security level, by this making risk assessment and mitigation easier to accomplish, resulting in a lesser risk to insurers enabling them to lower prices and bring more companies to be able to purchase cyber insurance policies. It’s a win-win