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PRESS RELEASE: MDS partners with KYND to boost adoption of cyber insurance and proactive risk management
KYND Limited, a provider of next-generation cyber risk management technology, today announced that it has joined forces with MDS, a Portugal based Lloyd’s broker with a reach extending into the world's largest specialised insurance market. MDS partners with KYND to drive client retention, boost the cyber resilience of their portfolio organisations and help their clients by offering new and effective processes to facilitate the implementation of proactive cyber risk management in the face of the dynamically changing digital landscape.
MDS and KYND share a common mission of increasing awareness and visibility of cyber risks. A 2022 survey of CIOs globally showed that 66% of respondents said they planned to increase investment in cybersecurity, and MDS’s pursuit of enhancing visibility of cyber insurance demonstrates foresight of this growing industry awareness that cyber is one of the biggest threats businesses face. A 2023 report showed that over 500,000 new forms of malware are detected every day; in order to stay ahead of this ever-evolving cyber threat landscape, organisations must be proactive about tackling the cyber risks that could have a devastating impact on their business operations if exploited.
This new partnership between KYND and MDS is designed to address this challenge, and solidify MDS’s role as a trusted advisor to their clients throughout the lifecycle of an insurance policy. This is complemented by KYND’s powerful cyber risk management technology and expert advisory services. KYND’s cutting edge START reports, the company’s signature vulnerability assessment technology, will equip MDS’s broking specialists with an instant and non-intrusive snapshot of an organisation's risk posture. MDS will be able to utilise these reports to provide bespoke and prioritised remediation advice to help their clients address the most pressing cyber vulnerabilities that face their business pre-submission, which will serve to not only reduce claims but improve the overall cyber resilience of their book of business.
Andy Thomas, CEO and Founder of KYND, said of the new partnership: “We’re delighted to support MDS as they seek to continually reach new heights in their pursuit of raising awareness of the necessity of cyber insurance. As the cyber threat landscape grows and evolves, it’s an honour to partner with a company that seeks to establish trends rather than respond to them, and which values proactive cyber risk management that betters the cyber health of their clients. We’re looking forward to this partnership pushing visibility of digital threats and boosting cyber resilience in an uncertain cyber environment.”
Pedro Pinhal, Technical and Claims Director of MDS Group, commented: “At MDS we value above all else being able to serve as a trusted advisor to our customers, and we have partnered with KYND because at the core of their business is actionable risk intelligence designed to help organisations improve their cyber defences while accessing cyber insurance at the best terms and price. In an increasingly competitive environment, utilising KYND will help us select the right cyber risks to take on as we seek to win more clients and drive client retention, as well as further enhance our insurance offering to help our clients help themselves.”
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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MDS Group began in Portugal over 35 years ago. Today, it is a global company with an active presence in eleven countries, including Portugal, Brazil, Spain, Angola, Mozambique, Switzerland, Malta, Cyprus, Chile, Mexico, and the United States. The company's expertise is focused on specialization, knowledge, an international network, people, and technology.
As the only Portuguese-speaking Lloyd's broker, MDS has direct access to the world's largest specialized insurance market, which brings together some of the best professionals in emerging and complex risk fields. MDS Group also operates globally through Brokerslink, a global broking company founded by MDS in 2004. Brokerslink manages a network of brokers, specialty risk, and consulting firms located in approximately 130 countries.
MDS has built a global company by innovating processes and investing in multi-specialization. The company takes pride in being a trusted advisor to thousands of companies and private customers, who entrust MDS with the management of their insurance and risks, demonstrating MDS's determination to go further. Since December 2022, MDS has been integrated into The Ardonagh Group, the largest independent brokerage group in the United Kingdom and one of the top 20 insurance brokerage groups globally. The Ardonagh Group generates revenues exceeding $1.5 billion USD and employs approximately 10,000 people across its 100+ offices.
For more information about MDS Group, please visit: https://www.mdsgroup.com/
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