Five years at KYND: Behind the Scenes
PRESS RELEASE: KYND recognised as a global Top 100 InsurTech innovator for second year in a row
2022 marks KYND’s second consecutive year of recognition in Fintech Global’s distinguished list highlighting the world’s 100 best-in-class companies operating in the InsurTech space.
KYND Limited, a leading provider of next-generation cyber risk management solutions, today announced it has been named in this year’s InsurTech100 for its innovative use of technology to help strengthen business cyber resilience and power growth in the cyber insurance market. This is the second consecutive year that KYND has earned a spot on the prestigious list organised by specialist research firm FinTech Global.
As the threat of devastating cyber-attacks increases, so does the demand for cyber insurance products. As a result, the global cyber insurance market is projected to grow from $11.9 billion in 2022 to $29.2 billion by 2027. But the combination of a shifting market, the ever-expanding digital threat landscape, and evolving insureds’ needs has driven the need for far more innovative solutions in the industry that can both effectively help tackle cyber risk and successfully harness this growing demand.
Being very aware of the sector’s persistent challenges, KYND has worked extensively to deliver next-generation cyber risk management technology for the benefit of every party in the cyber insurance value chain. Since its inclusion in the InsurTech100 in 2021, KYND has not only made sustained headway in the industry transforming the way insurers assess and manage cyber risk, but it has also undergone a significant expansion of its services, including the launch of the ground-breaking KYND READY.
Launched just under a year ago and having already received recognition from some of the world’s leading insurance firms, this first-of-its-kind risk management initiative was purpose-designed to accelerate and simplify cyber insurance processes for brokers and their clients. Through a combination of cutting-edge risk management technology and expert support, the KYND READY service enables organisations to effectively improve their cyber risk profile pre-submission/renewal to facilitate favourable risk transfer. Furthermore, its continuous monitoring and alerting capability firmly supports insureds in their efforts to maintain resilient cyber defences throughout the lifetime of their policy.
Andy Thomas, CEO and Founder of KYND, commented: “We’re incredibly honoured and proud to be recognised as one of the world’s leading InsurTech innovators for the third year in a row. Riddled with increasing threat volumes and more stringent underwriting assessments, cyber insurance remains difficult to navigate for brokers and their clients alike – despite its apparent necessity. That’s why at KYND, we’re challenging the convention that obtaining cyber coverage must be a complex process by delivering next-generation, frictionless solutions that unlock the power of proactive cyber risk management for businesses globally, enable successful cyber insurance applications, and drive profitable growth for our partners.”
Richard Sachar, CEO of Fintech Global, said: “.Faced with seismic shifts in consumer behaviour, the so-called “race to digitalise” and challenging market conditions, insurers have their work cut out for them. The InsurTech100 lists helps senior insurance executives in the industry filter through the noise in the market by highlighting the tech companies transforming sectors such as underwriting, embedded insurance, pricing, distribution and data & analytics.”
KYND is on a mission to make complex cyber risks easy to understand and manage. KYND’s pioneering 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 exposure while mitigating insured’s risk exposure with continuous monitoring and alerts.
For more information about KYND, visit: https://www.kynd.io/
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About FinTech Global
FinTech Global offers the most comprehensive data, the most valuable insights and the most powerful analytical tools available for the global FinTech industry. We work with market leaders in the FinTech industry – investors, advisors, innovative companies and financial institutions – and enable them to get the essential intelligence they need to make superior business decisions.
The InsurTech 100 is an annual list of 100 of the world’s most innovative InsurTech companies. These are the companies every insurance company needs to know about as they consider and develop their digital transformation strategies. A full list of the InsurTech100 can be found at www.TheInsurTech100.com. More detailed information about the companies is available to download for free on the website.
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