Vulnerability management software provider Tenable is adding a new Cyber Insurance Report within its Tenable Vulnerability Management solution designed to summarize exposure information relevant to cyber insurance providers to help streamline the policy underwriting process for insurers and customers.
According to Tenable, the Cyber Insurance Report will enable insurers, for the first time, to measure preventative security programs by sharing vulnerability data that resides within the firewall. The Cyber Insurance Report is free with a Tenable Vulnerability Management account.
The Columbia, M.D.-based company says it has also partnered with Measured Analytics and Insurance on a referral program designed to provide qualifying Tenable customers with savings on cyber insurance policies.
The company says the relationship represents a new data-drive model for the cyber insurance business, with tangible savings offered to customers.
The Tenable Cyber Insurance Report comes as cyber insurance policy premiums are rising and as obtaining a cyber insurance policy is no longer guaranteed. With the Cyber Insurance Report, customers can share data hat shows the insurance companies clear data that they maintain good security hygiene.
Measured Insurance CEO Jack Vines says the company was founded on the principle that not just any data can be used to underwrite cyber insurance policies.
“By enhancing our AI-driven underwriting models with ‘inside-out’ data from Tenable and other partners, we’re able to build a holistic understanding of a client’s risk profile, which often results in savings on cyber insurance,” Vines says. “Our integrated partner approach provides distinctive insight on risk, making all participants more secure and cyber resilient.”
According to Tenable’s announcement, incident response companies have been major partners for insurance providers investigating claims, but not much as been done to reduce exposure by helping to prevent the core issue that leads to security incidents.
Tenable hopes to provide a way for customers to reduce their exposure and assess their exposure management proficiency with metrics that show how well prepared a company is to prevent a breach rather than simplify responding to one.
“Most of the focus to date on assessing cyber risk for cyber insurance policies has been on whether a company has an adequate breach detection and response capability. But incident response means something has already gone wrong,” says Ray Komar, vice president of technical alliances at Tenable. “There’s never been a way for insurers to measure preventive security, until now.”
Cyber insurance policies with Measured are available for qualifying customers in the U.S. only. Tenable will continue to work with insurance partners to further refine data sources and reporting as part of the ongoing program, Tenable says.
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