KYND Limited, a luminary in the cyber risk management arena, is thrilled to announce its strategic collaboration with Probitas 1492, a preeminent Lloyd’s of London underwriting syndicate. This partnership is poised to amplify Probitas’ cyber insurance offerings’ profitable growth by harnessing KYND’s unparalleled risk intelligence and analytical prowess. Probitas will now have a robust framework for assessing and mitigating cyber risks throughout the insurance lifecycle, enhancing underwriting precision, managing ongoing portfolio risks, and dissecting systemic risks, including the nuanced application of bespoke war scenarios.
Integral to this alliance, Probitas’ Cyber underwriting team will be endowed with access to the newly augmented KYND SIGNALS service. This pioneering service in the insurance realm facilitates the proactive monitoring of cyber health within cyber insurance portfolios, aiming to forestall potential claims and diminish losses. Now included are the KYND SIGNALS Client Reports, offering essential, actionable risk insights to aid in underwriting decisions and empower current and prospective clients to augment their cyber resilience.
The partnership also heralds the introduction of KYND’s trailblazing Exposure Management solution, characterized by its clarity, detail, and adaptability through cyber catastrophe scenarios. This innovation is set to refine and enhance the syndicate’s internal cyber risk models, providing acute insights into the primary factors of potential losses and areas of risk accumulation in their portfolio, including scenarios involving warfare and cyber operations backed by nations. This strategy is especially pertinent in the current geopolitical landscape and shifting market demands, ensuring a thorough understanding of potential risks and their ramifications.
Andy Thomas, CEO and Founder of KYND, expressed his enthusiasm: “We’re delighted to partner with Probitas to support them and their clients alike at every stage of cyber risk management, from risk selection to exposure management. Keeping pace with the dynamic nature of cyber risk as well as understanding and assessing systemic cyber risk and points of accumulation is one of the foremost challenges confronting the insurance industry today. We are therefore excited to combine our distinctive cyber risk intelligence and models with Probitas’ specialist expertise and forward-looking approach not only to help overcome existing hurdles but also contribute to the creation of a more resilient and sustainable market through the industry’s advanced view of cyber risk.”
Reflecting on the collaboration, Richard Taylor, Head of Cyber & Technology at Probitas 1492, stated: “Amid a digital revolution, the corporate world is now increasingly reliant on technology and data, fostering greater connectivity than ever before. However, this shift presents many benefits and risks for modern businesses, including ever-evolving cyber threats. As a leading and specialised (re)insurance Lloyd’s syndicate, we need to be ahead of the curve. So we see it as a strategic imperative to continually search for the latest innovations. KYND’s insurance focus and unrivalled approach to cyber risk management, coupled with the flexibility and transparency provided by its innovative deterministic cyber catastrophe modelling, made partnering with them an easy decision to further enhance our underwriting and portfolio risk management capabilities as well as help inform capacity decisions.”
