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PRESS RELEASE: Nirvana teams up with KYND to strengthen cyber underwriting with unparalleled exposure insights
KYND Limited, a provider of next-generation cyber risk management technology and services, today announced a strategic partnership with Nirvana, a UK-based specialty Managing General Agent (MGA). This collaboration is set to empower Nirvana’s underwriting team with advanced and actionable insights into organisational cyber exposure, supporting them in making efficient, data-driven risk selection decisions and ultimately optimising portfolio profitability.
In light of the escalating instances of ransomware attacks, data breaches, and phishing incidents being the leading causes of cyber insurance claims over the past year, the insurance industry now places heightened emphasis on the relevant and timely cyber intelligence necessary to help them select and price digital risks appropriately. Through this partnership, Nirvana’s underwriting team will now benefit from access to KYND Signals Client Reports, KYND’s latest initiative offering an insurance focused view of an organisation’s cyber risk profile and highlighting critical risk indicators which are considered in the underwriting process.
Leveraging KYND’s combination of advanced, actionable risk analysis and extensive industry expertise, this collaboration aims to bolster the MGA’s assessment practices, help maintain the overall quality of their portfolio and, ultimately, mitigate potential losses. Notably, the actionable, prioritised risk insights provided by reports can be used by underwriters to guide prospective insureds in fortifying their cyber posture.
Andy Thomas, KYND’s CEO and Founder, said: “We extend a warm welcome to Nirvana as the latest member of our valued client community. At KYND, our foundational mission has been to provide businesses with the tools and intelligence they need to confidently navigate the digital landscape. We’re delighted that Nirvana has chosen KYND as their partner to further enhance their cyber capabilities and look forward to arming Nirvana’s underwriters with actionable insights for more astute risk selection. This, in turn, will pave the way of a more resilient portfolio, sustainable growth and enhanced book value.”
Rob Jones, Nirvana’s Executive Chairman and Head of Media, Technology and Cyber, commented: “In today’s complex and dynamic risk environment, we’re excited about the transformative potential this new partnership holds. Integrating KYND’s insight into our cyber arsenal will not only support the sustainable and profitable growth of our cyber portfolio, but will also become an integral component in aiding our customers to strengthen their digital defences and mitigate risks before they escalate into cyber incidents.”
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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Managing General Agent (MGA) Nirvana launched in London in 2023 after acquiring leading media, tech and cyber underwriter, Nirvana Risk Partners, from the MGA formation platform Castel Underwriting Agencies in a management buyout.
Backed by a number of leading insurance carriers, Nirvana is focused on the London Market, and serving clients’ complex risk needs through its broker partners. About 65% of its business comes from North America, but the company has ambitions to grow both in the U.S. and Europe, as it attracts underwriters and adds new products.
Nirvana, which has offices in London and Barcelona is service-driven, underwriting-first, specialist MGA, and is looking to build the next generation of MGA. If you would like to learn more about Nirvana’s services, please visit https://www.nirvana-uw.com.
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