UK insurance coverage middleman Howden has launched Howden Secure+, a brand new cyber insurance coverage answer tailor-made for mid-size corporates with annual revenues starting from $250m (£193,648m) to $2bn.
The launch is a part of Howden’s technique to develop cyber insurance coverage entry and simplify the quote course of with out compromising on protection high quality.
Howden Secure+ is a collaborative effort with Secure Safety and is supported by Mosaic Insurance coverage, Chubb and Liberty Specialty Markets.
It gives a streamlined threat evaluation course of, requiring 30% fewer underwriting questions than conventional strategies, said Howden.
The answer supplies a quantitative connection between an organization’s cybersecurity efforts and the phrases of its cyber insurance coverage coverage.
This strategy allows purchasers to reinforce their cybersecurity measures, which might result in decrease insurance coverage premiums.
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Mosaic Insurance coverage worldwide cyber head James Tuplin stated: “Mosaic is worked up about our partnership with Howden, Chubb, Liberty Specialty Markets and SAFE. We imagine inside-out scans powered by SAFE’s software program are the long run.
“They’re one of the best ways to acquire direct, correct data round an insured’s cybersecurity posture, and supply way more insightful data, obtained extra shortly and effectively, than the usual software kind course of.”
The answer leverages Howden’s international broking experience, SAFE Safety’s superior risk-management platform, and the underwriting capabilities of Chubb, Liberty Specialty Markets and Mosaic Insurance coverage.
Howden Secure+ follows the roll-out of Howden Cyber+, a cyber insurance coverage platform for small and medium-sized enterprise (SME) purchasers.
Howden cyber worldwide head Jean Bayon de la Tour stated: “Following the profitable launch of Howden Cyber+ earlier this yr, Howden Secure+ is one other proactive, seamless, data-driven answer that safeguards companies whereas simplifying the buying course of.
“Secure+ creates a transparent, predictable and clear hyperlink between cybersecurity and cyber insurance coverage, guaranteeing that firms that put money into the newest cyber safety measures are duly rewarded.”
In August this yr, Howden partnered with software-as-a-service firm FullCircl to streamline operations and scale back compliance prices.
