KYND, a provider of cyber risk solutions, has announced its entry into the US market with the launch of a new Cyber Risk Analysis tool tailored for insurance companies.
This move is aimed at meeting the growing demand for actionable insights into cyber risk exposure as cybercrime rates continue to rise in the country.
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The importance of KYND’s US launch has been further highlighted by the recent CrowdStrike tech outage, which exposed critical vulnerabilities that could be exploited by cybercriminals.
As the nature of cyber threats continues to evolve, KYND’s expansion represents a significant step in its mission to demystify cyber risk management and enhance cyber resilience for insurers around the world.
KYND’s approach simplifies the complex process of cyber risk analysis, offering a suite of solutions that cater to the needs of insurers, underwriters, as well as brokers.
According to KYND, the insurance industry is currently seeking ways to streamline the cyber risk analysis process, enhance profitability and reduce the number of cyber-related claims.
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By GlobalDataKYND’s entry into the US market promises to provide transparent and actionable risk insights, rather than mere scores, to its partners.
This approach could potentially help reduce loss ratios threefold through the identification and resolution of critical ‘Red Alert’ vulnerabilities.
By identifying vulnerabilities that could lead to losses and claims, KYND enables insurers and their partners to proactively address potential cyber threats.
The company’s tools also support brokers in simplifying the process of selling and renewing cyber insurance, thereby facilitating business growth.
In addition to its analytical capabilities, KYND’s services are available in several languages including Spanish, English, German, French and Italian to cater to a global clientele.
KYND CEO and co-founder Andy Thomas said: “It couldn’t be a better time to bring KYND’s next-generation cyber risk solutions to the US.
“Our unique capabilities and dedicated support teams make cyber risk analysis easier than ever before. KYND’s red, amber and green alert system provides clear and actionable insights into risk exposure, which simplify the complex landscape of cyber risk and make it accessible to everyone who needs it.”
In February this year, KYND secured investment from Verisk and its existing investor BGF to continue expansion efforts and develop its cyber risk technology.
