March 19, 2024
Cyber Risk

Find the gaps in your armour, before the hackers do

The cyber landscape is in constant transformation, and in recent times cybercrime has advanced so rapidly in both scale and sophistication that it is now considered an industry unto itself.

  1. Cybercrime cost the global economy over $8 trillion in 2022 and is projected to leap to over $20 trillion by 2027
  2. If the cybercrime industry were considered a nation-state, its economy would be the third-largest on earth behind only the U.S. and China

Your organisation's prospects of being targeted by one of these groups is no longer a question of if, but when. Now and moving forward, you will need a dynamic, adaptive, meticulous cybersecurity strategy to safeguard your business.

In answer to this call, Howden has aligned with global cybersecurity leaders Safe Security to deliver a new standard in cybersecurity risk coverage.

Cyberproofing your organisation

Safe Security is among the world’s most respected Cyber Risk Quantification and Management (CRQM) institutions, overseeing coverage for industry giants like BT. As the leader in AI-driven cyber risk management, SAFE has redefined cyber risk measurement and management with its real-time, data-driven approach that empowers enterprise leaders, regulators, and cyber insurance carriers to understand cyber risk in an aggregated and granular manner.

Adopting the ‘inside-out’ risk assessment methodology for cyber insurance, as well as NIST auditing standards, SAFE provides continuous real-time analysis of your entire internal attack surface. The platform will highlight potential vulnerabilities of all sizes as they occur, as well as calculate their dollar-value risk based on the FAIR methodology - the only globally recognized standard for cyber risk quantification.

Our Cyber Insurance team will then convert these discoveries into quantifiable insights that empower you to make better decisions.

This collaboration is a reflection of Howden’s commitment to deriving maximum value for our customers – a sentiment echoed by our Global Head of Cyber Insurance Shay Simkin; “As a group, we are dedicated to helping our customers get the most out of their cybersecurity insurance policy, urging them to reach a certain level of maturity and ensure they are properly rewarded by their insurance carriers.

Safe Security helps our customers achieve this by significantly reducing cyber risk with enhanced visibility across their entire attack surface. With Safe’s quick, non-intrusive inside-out assessment our customers have real-time visibility with risk quantification into security gaps such as MFA, misconfigurations, vulnerabilities, and malware findings - This is the type of transparency needed across the entire cyber insurance ecosystem.”

Exceeding your CRQM expectations

As part of this new partnership, Howden customers will also enjoy access to a range of exclusive carrier partner incentives. We will provide you with a ‘SAFE Score’ – a unique cyber status quantified according to your organisation’s needs, further reducing ambiguity in the existing underwriting process.

Should you choose to perform a SAFE assessment, these are some of the incentives you could benefit from:

  1. Free access to Safe Security for 30 Days with the ability to integrate existing Cloud, SaaS, and Cybersecurity solutions
  2. Real-time visibility into any security gaps and breach likelihood across a variety of risk scenarios
  3. Transparent dollar quantification of organisational cyber risk and specific to the most significant risk scenarios facing each organisation
  4. Potential insurance premium savings with more comprehensive coverage

The Howden-Safe Security partnership ushers in a new era of protection and product synergy for our cyber insurance customers. VP of Insurance Strategy & Underwriting at Safe Security, Steve Schwartz, hailed this evolution, saying “We’re thrilled to partner with Howden Group in introducing the next generation of real-time, inside-out cyber risk assessments and underwriting.

Our partnership with Howden is driving the industry into advancing cyber underwriting built on trust, transparency, and resilience across the value chain.”

Continue your cyber insurance journey

At Howden, we’ve built a team of over 100 cyber experts to support clients across all scales, sectors, and territories. Cyber threats know no borders and keep no regular office hours, so we’re here to support and protect you 365 days a year.

If you’d like to learn more about Howden’s new cyber risk management offering, in concert with Safe Security technology, we invite you to connect at [email protected]