Verisk Integrates KYND Cyber Risk Intelligence to Enhance Insurance Underwriting

Verisk, a leading data analytics and technology company for the insurance industry, has expanded its strategic collaboration with KYND, integrating KYND’s cyber risk intelligence into Verisk’s Rulebook platform. The Rulebook platform assists insurers and brokers with pricing, underwriting, and distribution for various insurance classes. The integration allows seamless access to actionable cyber risk intelligence, enhancing underwriting and risk management decisions in the insurance sector. KYND’s recent research highlights significant cyber vulnerabilities among UK’s top 50 retailers, with 80% exposed to at least one critical cyber risk including ransomware, outdated software, and email security flaws. This heightened cyber risk is particularly relevant during the holiday season when consumer-facing businesses like retailers are prominent targets due to the volume of customer data and complex supply chains they manage. The Verisk-KYND partnership aims to bolster cyber resilience across the insurance value chain by leveraging advanced data-driven insights and technology to keep pace with evolving cyber threats. This collaboration signifies a shift toward modernizing commercial underwriting processes by embedding comprehensive cyber intelligence directly into workflow tools, thereby enabling insurers to make faster and better-informed decisions. Verisk’s broader mission involves using scientific research, analytics, and software to improve underwriting and claims outcomes, fraud detection, and risk management related to global threats including cyber risks. KYND, founded in 2018, specializes in delivering precise cyber risk intelligence and advisory services to support the cyber insurance market, making complex cyber risk easier to understand and underwrite. This partnership exemplifies ongoing industry efforts to integrate enhanced risk assessment technologies with traditional insurance processes, addressing the growing importance of cyber threat management in underwriting and portfolio management strategies.