Verisk, a global data analytics and technology provider to the global insurance industry, has expanded its strategic collaboration with KYND, a provider of cyber risk management services, to bring enhanced cyber risk intelligence to the insurance market.
According to KYND’s research, 80% of the UK’s top 50 retailers face at least one critical cyber breach, with more than a third of them facing risks across all five main categories: ransomware, outdated software, vulnerable services, email security flaws and certificate issues.
“This research shows that cyber threats in consumer-facing industries are escalating, especially ahead of the holiday season,” said Andy Thomas, CEO and founder of KYND. “Retailers hold vast amounts of customer data and operate complex supply chains, making them prime targets.
“Our mission is simple: make complex cyber risks easy to see, understand and underwrite. We look forward to supporting insurers through this partnership with Verisk.”
As part of the expanded collaboration, KYND’s cyber risk insights are now integrated into Verisk’s rulebook platform, powering pricing, underwriting and distribution services across all major business categories.
By combining KYND’s cyber intelligence with Verisk’s global insurance expertise, it will provide insurers and brokers with seamless access to actionable intelligence to enable smarter underwriting and risk management decisions.
The collaboration reflects both companies’ shared commitment to enhancing the tools and insights available to the market, ensuring it can keep pace with ever-evolving cyber threats.
“This deeper collaboration marks a significant change in the way cyber risk is understood and managed across the insurance value chain,” said Tim Rayner, CEO of Verisk Specialty Business Solutions. “By embedding KYND’s intelligence into the rulebook, we empower clients to make faster, more informed decisions to modernize commercial underwriting and increase resiliency through data-driven insights. This is just one example of what our partnership with KYND will bring to Verisk The first of many ways to bring added value to our customers, helping them stay ahead of the changing cyber risk landscape.”
