CrowdStrike unveiled Falcon for Insurability, a new program allowing cyber insurers to provide organisations with industry-leading cyber protection from the AI-native CrowdStrike Falcon cybersecurity platform at preferred rates. With Falcon for Insurability, insurers including Ascot Group, AXA XL, Beazley Insurance, Berkley Cyber Risk Solutions, Coalition and Resilience reduce underwriting risk knowing that insured organizations have best-in-class cyber protection from the Falcon platform to improve cyber resilience and stop breaches.
The persistence and sophistication of cyberattacks continue to create cyber risk underwriting challenges: more organizations are having to decide between paying higher premiums, receiving reduced coverage, and rationalizing their cybersecurity spend. Carriers require companies to have advanced cyber defenses to qualify for policies, excluding many from obtaining coverage. Falcon for Insurability allows carriers to provide the world’s most advanced AI-powered protection at preferred rates. With the Falcon platform, organisations can detect 96% more threats in half the time compared to other vendors, and conduct investigations 66% faster – significantly improving their ability to stop breaches. This reduces cyber risk for companies and underwriting risk for carriers, allowing more businesses to obtain coverage while increasing their cyberdefenses.
“As cybersecurity’s leader, CrowdStrike understands the nuances of cyber insurance, and we have a team dedicated to working with the cyber insurance community. Our AI-native cybersecurity platform is increasingly important not only to the security of the organisation, but also its insurability,” said Daniel Bernard, Chief Business Officer, CrowdStrike. “Falcon for Insurability empowers boards of directors and cyber leaders to take a more active role overseeing and comprehensively addressing a risk to resilience journey.”
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“In today’s threat landscape, Falcon for Insurability is a mutually beneficial solution for organizations everywhere. Access to cybersecurity resources and tools like this boosts our clients’ cyber confidence and our own in extending cyber insurance coverage,” said Anthony Dagostino, Global Chief Cyber Underwriting Officer, Commercial Lines, AXA. “This program reduces the chance that companies will experience an impactful breach that could threaten their reputation and profitability.”
“Beazley’s Full Spectrum Cyber offering ensures our clients can pre-empt, respond, and adapt to emerging cyber threats every day. Deploying CrowdStrike Falcon alongside our solution will deliver powerful new resources to the ongoing battle against cyber criminals and further strengthen our clients’ cyber resilience,” said Paul Bantick, Global Head of Cyber Risks, Beazley Insurance.
“We are excited to continue our partnership with CrowdStrike to offer our policyholders access to its expanded portfolio of security solutions. Policyholders now have a variety of options, ranging from very affordable endpoint protection for small businesses to a customisable and solution-specific product for larger organizations,” said Steve Krusko, Chief Underwriting Officer, Berkley Cyber Risk Solutions. “All Berkley Cyber Risk Solutions’ policyholders can access tools to mitigate today’s most relevant threats to their IT systems.”
“Every day, businesses are bombarded with new and fast-evolving digital risks,” said John Roberts, General Manager, Security, Coalition. “Solutions like CrowdStrike’s Falcon platform give Coalition’s policyholders the ability to actively reduce their cyber risks, help prevent impactful breaches, and improve overall cyber insurance outcomes.”
“We are excited to build upon our long-standing partnership with CrowdStrike through the Falcon for Insurability program. The combination of CrowdStrike’s leading protection with Resilience’s unique approach to quantifying and managing cyber risk holistically helps us better understand an organisation’s security posture and protect our joint clients,” said Timothy Riley, SVP Products, Resilience.