MAPFRE partners with Cyberwrite

Spanish insurer MAPFRE is partnering with cyber risk assessment company Cyberwrite.

As part of the partnership, Cyberwrite will provide MAPFRE with a cyber insurance risk platform for small and medium-sized companies, with the aim of having a more accurate knowledge of the risk at the time of underwriting and renewing its cyber insurance.

Some of the risk factors analyzed by Cyberwrite in the SME public interface include open ports, obsolete technologies or software versions with known weaknesses, poor encryption and certificate practices, lack of anti-spam mechanisms or recorded episodes of exposed credentials (including the dark web’), malware discovery, and more.

“Many small businesses just can’t afford effective cybersecurity programs, so they don’t have the resources to protect themselves and don’t understand the risk. Our data analytics and risk reports offer MAPFRE and its customers digestible information about where exposures are, but more importantly AI predictions help users understand what the findings actually mean from a cyber insurance policy perspective in terms of risk and industry benchmark.” – Nir Perry, CEO and founder at Cyberwrite.

“For an SME, a cyber-attack can be catastrophic; at MAPFRE we want to accompany these companies in their cyber-protection strategy and minimize the impact that risks can have on their business. By having on-demand access to the analyses, we can better understand the risk associated with each company, and offer products and services in line with their actual needs. With Cyberwrite, we are taking a leap forward in the evaluation, monitoring, and control of cyber risk, obtaining insights that are very useful for the teams to make data-driven underwriting decisions.” – Óscar Taboada, head of underwriting Europe & head of cyber at MAPFRE RE.