In recent years, the global cyber insurance market has experienced unprecedented growth, unfortunately fueled by the increasing frequency and escalating costs of data breaches.
15%
over 3 years
With the average cost of a data breach now estimated at 4.45 million USD (IBM) - and on the rise 15% -, the financial stakes have never been higher. This growing risk has driven more organizations to seek cyber insurance as a critical safeguard.
However, despite this surge in demand, underwriting profitability and accurate risk evaluation remain significant challenges. Insurers need comprehensive incident visibility and control to assess risks accurately and maintain profitable underwriting practices.​ For insurers and underwriters, navigating the complexities of cyber insurance involves addressing a wide spectrum of legal, business, and cyber aspects. Each incident is unique, presenting varied challenges in terms of scope, affected technologies, stakeholders, compliance obligations, and insurance coverage.
The role of a breach coach (see "Breach Coaching Challenges") becomes pivotal in this ecosystem, acting as a project manager to coordinate responses to multiple incidents. They must ensure that all actions are timely and align with best practices, including adherence to regulatory frameworks such as CMMC, NIST CSF, ISO 27001, or CIS 18. This complexity necessitates a meticulous approach to managing tasks, communications, and compliance, adding layers of difficulty to the breach management process.​Managing the myriad activities required during a cyber incident is no small feat. Breach coaches must juggle priorities, ensure timely communication, and assign tasks accurately to appropriate stakeholders. Assessing the gravity and scope of each incident is a meticulous process, and the need for precise coordination cannot be overstated.
Moreover, maintaining stakeholder trust is crucial; stakeholders must have confidence in the breach management process and require accurate, live reporting throughout the incident lifecycle to remain informed and engaged. The lack of efficient tools to streamline these processes can lead to chaos and inefficiency, ultimately impacting the insurer's ability to manage risks effectively.
Enter Breach Commander™
A game-changing solution designed to address these challenges head-on. For insurers and underwriters, this means enhanced incident visibility and metrics, crucial for accurate risk assessment and profitable underwriting.
The platform ensures that all actions are documented automatically, providing a clear audit trail and activities timeline, making reporting effortless. By aligning incident response with breach coaching, insurance, and compliance requirements, Breach Commander™ not only enhances operational efficiency but also reinforces stakeholder trust and confidence.
With Breach Commander™, insurers and underwriters can benefit from deterministic decision flows designed for auditability and compliance. The platform’s step-by-step, role-based processes, supported by just enough AI, ensure that every action is repeatable and measurable.
Efficient dashboards provide real-time insights into ongoing incidents, enabling decisive actions and consistent reporting. By adopting Breach Commander™, insurance stakeholders can navigate the complexities of cyber incidents with confidence, ensuring that their underwriting decisions are based on accurate, comprehensive data and that their clients receive the highest level of service and protection.
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Contact us at your best convenience to see Breach Commander™ in action.
The value of Breach Commander™
Elite Innovation
Unique on the market, our solution is built on 20+ years of operational experience at dealing with all forms of cyber incidents imaginable.
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Unique literally means it does not exist anywhere else.​​​​
Bridges the needs of multiple industries
Breach Commander™ does provide a never seen streamlined incident management platform for security operations teams.
But most of all it comes as the synergic answer for the pain points of several professional verticals:
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Privacy & legal breach coaching
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Insurance underwriting
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Auditing & compliance
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Cyber incident response & forensics providers.
Demonstrated Usefulness
We have developed and refined our solution from real-world incidents and crisis management, including business challenges spanning across the whole enterprise (legal, compliance, insurance, finance, risk management, audit, etc) .
Just the right Amount of AI
Of course we have cooked-in some AI to offer just-in-time assistance on top of our deterministic, repeatable and comparable workflows.
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And we are doing proper R&D to build our own internal AI models to replace any commercial 3rd party consumption.
Exciting Financial Opportunities
The timing is perfect.
Partnering with Breach Commander™ opens the door to a lucrative positioning in an immature, high-demand and low offer market for proper cyber incident management.