Oceanwide, an Insurity Company, has launched a cyber risk assessment tool which will “help insurers identify and mitigate company-specific risks to data and privacy.”
Oceanwide is the developer of the configurable SaaS insurance software for property and casualty insurers and its new cyber risk tool is made to “allow insurance companies identify high-risk processes, policies, systems and third-party provider relationships so that they can better mitigate intrusions and data breaches.”
The tool is web-based and can be customized for country-specific regulations and language requirements to make it easier for insurers to improve a companies cybersecurity in real-time.
According to Mark Orosz, CSO/CIO for Oceanwide, “with cyber risk on the rise and insurance data increasingly targeted, insurers obviously need to be able to assess the cyber vulnerabilities of clients.” Orosz went on to note that the tool, “can be easily integrated into an insurer’s rating and policy issuance process to provide the insight needed.”