launches to support cyber insurance and protection

San Francisco-based has launched a new cyber resilience solution designed to automate and bolster cyber insurance.

Acero aims to help insurance carriers to handle their cyber insurance policy quoting for SMEs as well as bolster their online protection from threats. The new solution combines risk mitigation and accelerated recovery to lower the impact of cyberattacks.

The platform collates risk data from global sources and generates insights and analytics for carriers, brokers, and insureds to help enhance risk modelling and build cyber resilience, it said.

In addition to the launch of its services, the company has expanded its advisory board and added a number of people with expertise on the cybersecurity and insurance sector.

Arceo advisory board member Dr. Sherwood-Randall said, “Cyber threats are on the rise, and U.S. critical infrastructure is in the sight lines of our adversaries. We need to build a national ecosystem that rallies the full strengths of our nation to tackle this growing challenge.

“Arceo is pioneering a model that will meet escalating needs across multiple sectors of the economy.”

There has been a growing interest in the cyber insurance space over the past year.

Earlier this month, Swiss Re Corporate Solutions developed a new cyber insurance product in conjunction with French cybersecurity company OZON. The solution combines insurance with cybersecurity by offering cover for cyberattacks and losses it causes as well as an integrated cybersecurity able to detect threats.

Property and casualty insurance platform CoverHound is also getting involved in the cyber insurance space. Following the recent close of its $58m Series D round of funding, the InsurTech is looking to increase its CyberPolicy service.

Copyright © 2019 FinTech Global

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