Safe Security has launched a cyber security MGA that uses API-based cyber risk telemetry to underwrite cover.

The company says that with SafeInside Insurance, underwriters take less than 20 minutes to assess an organisation. All insureds also receive access to the SAFE CRQM platform, which simultaneously accumulates signals using APIs from existing cyber security products, external threat intelligence, and business context to provide visibility into possible areas of cyber exposure, as well as the financial risk associated with those exposures.

“Safe Security is thrilled to become the world’s first MGA for cyber insurance using actual cyber telemetry for underwriting. Our vision is to establish a new, de-facto industry standard for how cyber insurance is underwritten, and to provide more transparency between the investment in cyber security and cyber insurance,” said Saket Modi, co-founder and CEO, Safe Security.

“We are paving the way for a sustainable, profitable cyber insurance ecosystem based on trust and certainty for all stakeholders. Safe Security looks forward to helping insurance buyers get the right cyber insurance policy at the right price for their organisation’s specific requirements, as well as assisting brokers and underwriters make more informed decisions and dynamically adjust their portfolios.”

As part of its commitment to cyber security, Safe Security says it will also be providing access to its cyber risk quantification platform to other carriers and reinsurers.

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