In a groundbreaking partnership between Mulberri, a digital insurance platform specializing in business insurance, and Qualys, renowned for its cloud-based IT, security, and compliance risk management solutions, the two companies aim to enhance cyber insurance offerings, particularly for small and medium-sized enterprises (SMEs). With an alarming 68% annual attack rate on SMEs, this collaboration targets a pressing need.
Mulberri’s flagship product, Mulberri Cyber, provides comprehensive coverage for various cyber risk scenarios such as data breaches, ransomware, and network disruptions. Alongside these core offerings, Mulberri Cyber also boasts a streamlined application process which simplifies the often cumbersome task of securing cyber insurance. By leveraging the expertise of Qualys, this product stands to offer even more robust protection.
Qualys brings to the table its Enterprise TruRisk Management platform, known for offering real-time insights into an organization’s cyber risk, thus enabling proactive vulnerability management. This integration means that businesses can actively manage their cybersecurity posture, which in turn could lead to better insurance terms and conditions.
One of the standout advantages of this partnership is the provision of exclusive discounts on Mulberri Cyber insurance policies to Qualys customers. These discounts are available to businesses that use Qualys’ tools, incentivizing them to maintain a strong cybersecurity framework. Moreover, the real-time insights provided by Qualys simplify Mulberri’s underwriting process. For eligible customers, this integration reduces the application process to a single, straightforward question.
The partnership signals a significant shift in how cyber insurance underwriting is approached, making insurance more accessible, affordable, and responsive to the specific needs of SMEs. Hamesh Chawla, co-founder and CEO of Mulberri, emphasizes that businesses managing their cybersecurity with Qualys tools should receive tangible insurance benefits. This approach rewards proactive measures and acknowledges the efforts businesses put into securing their data and networks.
Rich Seiersen, Chief Risk Tech Officer at Qualys, highlights the innovative nature of this collaboration with their Risk Operations Center (ROC). This facility aims to provide insurers with real-time, comprehensive insights into an organization’s risk landscape through Qualys Enterprise TruRisk Management. The goal is to enable more accurate assessments and tailored coverage options, enhancing the overall underwriting process. Furthermore, this approach empowers businesses to better measure, communicate, and mitigate their cyber risks effectively.
In conclusion, the partnership between Mulberri and Qualys represents a strategic collaboration poised to improve cyber insurance solutions by combining cutting-edge cybersecurity management with innovative insurance underwriting. This collaboration underscores a shift towards more responsive, real-time risk assessment and tailored insurance coverage, particularly benefiting SMEs in the face of rising cyber threats. The initiative is set to establish a new standard in the field of cyber insurance underwriting.