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Continuous Underwriting Drives Cyber Insurance Precision

 

 

 

 

 

16 Minutes Click Here to Play MP3 Audio (Download MP3 - Right Click, Save Target As) 

Cyber insurance, cybersecurity, and cyber threat landscapes are changing rapidly.

Just like cybersecurity vendors, cyber insurance providers need to keep pace with ever-evolving criminal tactics.

Previously, cyber insurance applications involved lengthy applications, ambiguous coverages, and no customer contact until a breach actually occurred.

That approach has become obsolete, and underscores the importance of continuous underwriting.

Continuous underwriting has a historical precedent in other lines of insurance that have a relatively slow change in risk.

But, cyber risk can change daily.

Cyber insurance needs to become more dynamic and progressive to outpace cyber criminals.

Continuous risk assessment, or reassessing one’s risk profile on a continuous basis is a required and foundational component of continuous underwriting.

Therefore, continuous underwriting and continuous risk assessment go hand in hand.

Outlook Series' Michael Lippis interviews Caroline Thompson to gain Cowbell's perspective on continuous underwriting.

Caroline is the Head of Underwriting at Cowbell. 

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