Cyber insurer Measured Analytics and Insurance is launching a new product aimed at addressing the evolving cyber risks of small and medium-sized businesses.
The new CyberGuard 2.0 leverages data and analytics to provide clients with more insight into the cyber risks they face, and guidance on how to address any security exposures detected. The enhanced CyberGuard is underwritten using proprietary data and AI to ensure stable risk evaluation and can be customized based on the policyholder’s exposures and needs.
In addition to coverage, CyberGuard 2.0 also features integrated risk mitigation services. Measured has partnered with leading cybersecurity providers to help policyholders adopt technology to protect themselves. The insurer will also provide services like identity and access management (IAM), endpoint detection and response (EDR), security awareness training, and so on.
“The CyberGuard 2.0 insurance policy, combined with our unique risk evaluation and exposure analysis presents Measured clients with the best possible solution,” said Measured chief underwriting officer Steven Anderson.
A release from Measured noted that cyberattacks continue to be a major concern for small- and medium-sized businesses; the average breach affecting SMEs has been pegged at around $4 million.
“Enhancing our policy to meet emerging threats is just one of the many ways we continue to prove that we are a trusted cyber insurance partner for small- and medium-sized businesses,” explained Anderson.
In February, Measured formed a partnership with software company Relativity6 – a real-time search and classification API that provides practical six-digit North American Industry Classification System (NAICS) predictions and company existence checks.
