Industry’s First Automated Cyber Insurance Compliance Platform enables companies to comply with cyber insurance mandates
SAN DIEGO, CALIFORNIA, USA, November 1, 2023 /EINPresswire.com/ — Dragonfly Cyber, a cyber insurance compliance company, announced it has exited stealth mode and launched the industry’s first automated cyber insurance compliance platform. The company’s Cyber Insurance Compliance Platform supports the needs of cyber insurance carriers, their customers (policy holders), and MSPs. The platform utilizes patented technology that discovers and measures cyber insurance mandate compliance, mandate violations, and cyber weaknesses. The solution is available now and can be downloaded at no cost for a basic compliance assessment.
There are currently 6 million cyber insurance policies issued in the US. However, only 7,500 of these companies have a CISO managing their security. When applying for cyber insurance, companies are required to complete a cyber insurance questionnaire which is largely outsourced to MSPs to complete. These questionnaires fail to capture the true state of cybersecurity for organizations’ networks and systems. The result is insurance policies written without a clear view of risk, leading to unexpected claims. Insurance carriers, policy holders, and MSPs are failed by the current approach.
“By taking a unique approach to detecting cyber insurance mandate compliance, we are providing real value to the early adopters of our technology,” said Brett Helm, Co-founder of Dragonfly Cyber. “Policy holders have been denied coverage after being hacked and MSPs have been sued. The industry needs a solution to correct an abundance of problems and missed expectations.”
Several leading universities, medical centers, retailers, and financial companies are utilizing Dragonfly Cyber’s platform. All have discovered significant security issues in their networks. In each case, the internal security team believed they were in compliance with cyber insurance mandates, but the Dragonfly Cyber solution found they were not in compliance.
Dragonfly Cyber was co-founded in October 2020 by industry veterans Brett Helm, former Intel executive and CEO of DB Networks, Coradiant, and IPivot Inc., Jim Kirklen, former executive at DB Networks and Sierra Wireless, and Eric Varsanyi, former CTO and Chief Architect at DB Networks, Coradiant, and DB CyberTech.
About Dragonfly Cyber
Dragonfly Cyber is a cyber insurance compliance company providing the industry’s first automated cyber insurance compliance platform. Dragonfly Cyber is based in San Diego, California, and led by an experienced team of cybersecurity professionals and industry executives. The company is delivering innovative solutions to allow enterprises to understand their cyber risks and automate compliance with cyber insurance security mandates. For more information, visit www.dragonflycyber.com.