solutions-partners
Solution Partner

InsurTechnix +

Founded by an experienced team of technology and insurance entrepreneurs, InsurTechnix combines AI, analytics, and automation to help cyber insurers and their policyholders.

Policyholders deploy the CyberSentinel on to their Windows, MacOS, and Mobile devices to receive detailed C-Suite reports on their organisation’s cyber-security and data hygiene (CCPA, GDPR) Insurer. Cyber insurers get real-time data allowing simplified quote and bind flows, advanced pricing, and constantly updating measurement of portfolio exposure. Detailed audit trails speed claims procedures by facilitating incident response and eliminating betterment.

Duck Creek, World Programming and InsurTechnix partner to deliver a fully integrated cutting-edge cyber insurance solution.

Advantages

InsurTechnix’s CyberSentinel provides cyber insurers with instant access to aggregated and evolving risk data so they can better price cyber risks; improve their profitability and reduce earnings volatility. We bin paper-based application forms and automate through the policy lifecycle. Risk data is continuously collected from policyholder devices. This data automatically populates cyber-insurance application/renewal forms ensuring that the cyber insurer has the right data to write the right policy at the right price. Initial quotes are automatically generated together with recommendations to improve cyber risk. Quotes are instantly adjusted in response to remedial actions. Once a policy is bound, scores are constantly updated, and alerts sent through the policyholder to facilitate cyber risk management

At the technical level, our key differentiators are our ability to provide insures with a real-time ‘inside out’ view of risk and customisable scoring AI and analytics.

Because our solution provides the insurers with device level risks, they can view specific risk exposures across their entire portfolio. We use this ‘inside-out’ view of data throughout the policy lifecycle. In the event of a loss, the insurer has remote access to the audit trial leading to the claim and visibility to the actual loss.  Legitimate claims can be paid promptly, improving customer loyalty. Questionable claims can be investigated remotely without requiring expensive forensic teams.

Features

Bionic underwriting: Our data-driven risk decisioning approach supports your highly experienced underwriters. We integrate easily with existing policy/pricing systems. Underwriters apply their own segmentation algorithms and better understand individual policyholder risks. We enable portfolio level analysis of risk concentrations allowing “what-if” modelling of extreme events causing policies to simultaneously trigger.

Real-time risks: We continuously audit devices and provide automatic actionable alerts to policyholders helping reduce the number of claims and size of losses. Because we have real-time usage data significant changes are instantly presented to the insurer with an opportunity to dynamically adjust premiums.

Claims: We maintain a full audit trail of the alerts sent and the policyholder’s actions. When a claim is initiated, forensic logging and the audit history are available through accessible account logs – preventing betterment and avoiding costly and time-consuming onsite audits. Legitimate claims can be assessed and processed automatically. The data enables insurers to evidence activity outside policy rules in the event of a disputed claim. We provide clear, remote visibility into the scale of loss.

Expertise

Unique AI technology: Developed with an Innovate UK grant award, our cloud-based AI helps organizations uncover the routes malware can take to infest devices. The same AI powers our device, policy, and portfolio level risk analyses.

Real world experience: InsurTechnix’s founders were previously responsible for securing clinical patient data. The CyberSentinel is designed to support the highest standards of cyber- and information- security.

Trusted by experts: Data protection officers and incident response teams love our detailed reports.

Easy integration: Our strong experience of cloud native technology enables you to be up and running fast.