PRESS RELEASE: KYND introduces next level Exposure Management for insurers to tackle cyber accumulation risk
PRESS RELEASE: KYND selected as trusted cyber risk partner to support Filhet-Allard’s clients across France and Europe
KYND Limited, a provider of next-generation cyber risk management solutions, today announced its brand-new partnership with Filhet-Allard, the leading French independent insurance brokerage, bringing the power of KYND’s innovative technology to its exclusive 360° risk management solution tailored to the needs of businesses amid the growing threat landscape. The new partnership is geared towards enabling frictionless cyber insurance applications and renewals for Filhet-Allard’s extensive client portfolio through promoting insureds’ improved cyber resilience.
The announcement comes precisely when the increase of ransomware and supply chain attacks is reaching a new apex. The relentless threats have been affecting both public and private sectors for years, but the number of incidents has risen dramatically since the outbreak of the global pandemic; with Europe being subjected to 43% of global ransomware attacks, and the UK and France heading the list of the most targeted countries in the world by ransomware attackers. The number of supply chain incidents, in turn, quadrupled in 2021 compared with 2020. Considering the ongoing Russia-Ukraine geopolitical conflict, the amount of ransomware activity and supply chain attacks, particularly against critical infrastructures, is only expected to grow throughout this year.
Facing the prospect of major financial fallout from a single successful incident, businesses are increasingly looking for cyber coverage. But heightened underwriting scrutiny and increased premiums – both resulting from the sharp increase in claims from recent ransomware attacks – have created new barriers to addressing the largest growing risk through cyber insurance, for brokers and insureds alike.
In light of these latest developments, KYND and Filhet-Allard have risen to the challenge presented to enable businesses to obtain adequate insurance coverage at favourable terms and pricing, despite the market conditions. Under this new partnership, Filhet-Allards’ clients across France and the EU can now benefit from KYND’s immediate, unparalleled visibility into an organisation’s cyber exposure. Coupled with its tailored, prioritised remediation advice, it will allow existing and potential policyholders to take necessary steps towards risk mitigation to better prepare for future cyber insurance applications, plus to maintain a strengthened cyber posture ‘in-life’ of an insurance policy.
Andy Thomas, KYND’s CEO and Founder, said: “We are delighted Filhet-Allard has chosen KYND to join their enhanced 360° cyber risk management service; and we fully support their vision on a preventative approach to cyber threats through achieving cyber resilience. In the era of digital threats being at the top of each organisations’ agenda, the constantly growing threat landscape calls for a collaborative approach that brings together actionable threat intelligence and world-class industry experts to build effective and efficient solutions for businesses, which is exactly what this partnership is about. We’re looking forward to working together with Filhet-Allard towards this goal and growing our relationship even further in the future.”
Gregory Allard, Filhet-Allard’s CEO, commented: “We’re excited to offer KYND’s advanced risk management capability as part of our suite of industry-leading solutions that aligns with the current and future cyber needs of businesses globally. This partnership will supplement our ongoing efforts in reimagining risk management with an emphasis on resilience. Leveraging KYND’s real-time, interactive risk insights and helpful recommendations will enable brokers and their clients to move a step closer to securing relevant cover through improved risk posture, whilst further strengthening their threat prevention efforts.”
KYND is on a mission to make complex cyber risks easy to understand and manage. KYND’s next-generation technology makes assessing, understanding, and managing cyber risks easier and quicker than ever before and is used by insurers, brokers, and their clients. Recognising one size doesn’t fit all, KYND has designed made-to-measure InsurTech products that work for any size business, from any industry, anywhere in the world.
KYND’s unparalleled cyber-risk management tools not only enable accelerated sales of cyber policies, speeds up renewal and helps control client risk but also supports better underwriting decisions by removing complexity, providing instant insight into cyber risk profile while reducing insured’s risk exposure with continuous monitoring and alerts.
For more information about KYND, visit: https://www.kynd.io/
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Filhet-Allard is one of the leading providers of insurance brokerage, risk management and employee benefits solutions in France. Headquartered in Bordeaux, Filhet-Allard is ranked number 7 on the French market with approximately 1 250 employees and in excess of 1.3 billion EUR of premiums managed. Filhet-Allard meets all the insurance needs of corporate businesses and public authorities. Its dedicated teams provide with global solutions for Property & Casualty, Employee Benefits, Marine & Cargo, Credit & Factoring, Affinity programs and designs tailor-made insurance and risks management solutions for medium-size and large corporates companies.
Filhet-Allard is a 100% family-owned company and therefore has complete control over its corporate strategy. Its independence is a guarantee for the integrity of its choices and allows all the flexibility needed to deliver tailor-made solutions which meet the needs of its clients. Filhet-Allard operates 14 offices and is active in 120 countries via the Brokerslink network.
To find out more details about Filhet-Allard and their services, please visit: https://www.filhetallard.com/
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