XL Catlin and RedSeal (network modeling and risk scoring platform) launched cyber insurance industry’s first dynamic measure of resilience which will help measure risk, improve cybersecurity and insurance terms.
RedSeal is a cybersecurity platform that puts security management and decision-making power right in your hands.
The USP of this partnership is RedSeal’s patented network modeling and risk scoring platform which creates a network model from the inside out, including physical assets, as well as those in public and private cloud environments. The insights generated are being used to calculate the Digital Resilience Score which helps evaluate client’s network in three ways.
1.How gaps caused by incorrectly configured devices and third-party software could compromise the network.
2.How accessible the client’s important assets are to hackers;
3.The degree of understanding of the network, including all devices and connections
The score allows XL Catlin to evaluate the client’s resilience and if it warrants improved terms.
John Coletti, chief underwriting officer, cyber and technology, XL Catlin has said of the partnership: “We see this collaboration as a win-win for all involved. We’re giving our clients the option to create a cycle of continuous improvement in their cyber security efforts. Plus, our underwriters have more in-depth information to evaluate their risk and provide the most appropriate policy terms and pricing – and our customers can use the same information to improve their resilience and lower their risk.”
