Howden partners with Insurisx on cyber initiative

Howden, the broking arm of Hyperion Insurance Group, has partnered with cyber insurance technology specialists Insurisx on an initiative to drive change in the way that cyber insurance is sold.

The offering is centred on a technology-based platform, which both companies believe will help clients of all sizes improve security and resilience from potential cyber-attacks.

Shay Simkin, global cybercrime insurance activities leader at Howden, said: “Insurisx’s methodology and technology allows us to offer our clients even better protection against cyber risks via a product that we believe offers the best coverage, per dollar, in the industry.

“By providing our clients with the knowledge and tools to reduce their fundamental exposure to potential cyber-attacks we can help them to become less prone to incidents and security breaches and thus see expanded coverage or more attractive pricing from insurers.”

Ami Shafran, chairman of Insurisx, added: “Insurisx’s unique approach leverages comprehensive cyber risk insight derived from the military with an intimate understanding of the requirements of the insurance industry and its clients.

“By providing the industry with a better ability to predict and hedge its own risk, Insurisx can help expand the policy’s coverage and bring insurance prices down, with the end goal of improving overall security and economic wellbeing.”

Eyal Adar, chief executive officer of Insurisx, said: “Whilst having the best technology is important, it’s not sufficient on its own to fundamentally transform the cyber insurance industry. We identified Howden as our partner not only because of their international reach, but also due to their cyber expertise. Howden is the only insurance broker that has built a professional Cyber Academy, an international education programme that trains brokers to become cyber specialists.”