Pen Underwriting, a subsidiary of Arthur J Gallagher, has launched Pen Shield, an “improved” cyber danger administration platform.
The platform, in response to the corporate, is designed to supply “enhanced” danger administration instruments for international cyber policyholders.
The platform will probably be issued as customary with all cyber insurance policies from 1 June 2025, for each new and renewing policyholders.
It goals to boost firms’ defences towards cybercrime, scale back the danger of knowledge breaches and tackle the prevalent situation of human error in cybersecurity.
Unique to Pen’s insured shoppers by way of dealer companions, it integrates technological companies with cybersecurity consultancy experience to sort out vulnerabilities inside organisations’ cyber infrastructure.
The platform’s options embody vulnerability scans, danger identification, and instant steps for remediation and risk intelligence feeds that provide insights into cyber threats.
Moreover, an e-mail safety plug-in and multi-channel phishing simulations are a part of the platform’s preventive measures, supported by AI-driven cybersecurity {and professional} oversight.
For brokers, Pen Shield gives instruments for portfolio evaluation and notification, utilising Pen’s aggregated information to determine frequent cybersecurity points and rising threats.
Moreover, the platform consists of pre-bind vulnerability scans, producing client-specific experiences that may be hooked up to Pen cyber insurance coverage quotes.
These experiences help brokers in explaining safety vulnerabilities to shoppers and advising on acceptable countermeasures, the corporate added.
Pen Cyber head Ian Summerfield mentioned: “Our purpose in enhancing Pen’s danger administration providing is twofold. First, to assist brokers win and retain enterprise by providing their shoppers tailor-made danger options they’ll’t get elsewhere, whose advantages can simply and persuasively be demonstrated.
“Second, to proactively assist insureds determine, tackle and scale back their publicity to cyber danger and keep away from the enterprise value, disruption and even paralysis that every one too simply move from a profitable cyber incident.
“Our earlier danger administration suite was highly effective; Pen Shield may show an actual game-changer for insureds and brokers alike.”
Pen Underwriting presents cyber insurance coverage to small and medium-sized enterprises and huge corporates within the UK, US, Canada, Australia and New Zealand, with plans to increase its companies to extra areas.
In February, the corporate expanded its marine insurance coverage choices to cowl US ports and terminals.
