MS&AD and Coalition partner on cybersecurity insurance in Japan
Cyber managing general agent (MGA) Coalition has entered into a strategic partnership with Japanese non-life insurance giant MS&AD Insurance Group to provide cybersecurity monitoring solutions to small and medium-sized businesses (SMBs).
MS&AD Insurance Group recently launched MS&AD Cyber Risk Finder, its first cyber risk assessment service built using Coalition Control, a risk management platform developed by Coalition. MS&AD Cyber Risk Finder is currently available to the Japanese SMB market.
Using Coalition Control technology, MS&AD Cyber Risk Finder offers cyber risk diagnostics and consultation services based on vulnerability information collected from internet-connected devices worldwide. The Cyber Risk Finder will provide diagnostic reports to businesses, including personalized vulnerability scores, identified weak access points, and a prioritised list of actions to take toward remediation.
Joshua Motta (pictured), Coalition’s co-founder and CEO, said: “Cyber attacks are increasing globally, and Japan, as one of the world’s largest economies, is especially at risk. By joining forces with MS&AD, we're committed to bolstering cybersecurity for Japanese companies by providing continuous security monitoring, active risk management, and mechanisms to transfer risk and respond to incidents. We’re thrilled to partner with MS&AD to protect those businesses in Japan that currently lack these sophisticated protections.”
Tomoyuki Motoyama, group chief digital officer at MS&AD, said: “Through our partnership with Coalition, we can offer cyber risk assessments and diagnostic services tailored for Japanese SMBs at a lower cost. Leveraging the MS&AD Group's presence and distribution network, we will widely deliver this solution to our customers to help protect them. Moving forward, we plan to develop additional features to counter increasing cyber-attacks on supply chains targeting large companies.”
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