Resilience Reflects on a year of Progress Following their 2021 White House Commitment

News provided by

Oct 04, 2022, 09:00 ET

In Recognition of Cybersecurity Awareness Month,
Looking at how Insurance can Help Build Cyber Resilient Companies

SAN FRANCISCO, Oct. 4, 2022 /PRNewswire/ -- Resilience, the next-generation cyber risk company that helps middle to large market enterprises connect their cyber insurance coverage with advanced cybersecurity visibility, is pleased to mark Cybersecurity Awareness Month (October) with several key developments and achievements with the company's commitment to helping partners become Cyber Resilient.

Cyber Resilience is the future of cybersecurity. It is no longer enough to just be cyber-insured or cyber-secure; all organizations must build Cyber Resilience to foster business growth and continuity. In that spirit, over the past year Resilience's focus has been partnering insured clients with its Cyber Primary Care security program, to maximize the benefits of their policy and help them achieve enterprise-wide Cyber Resilience.

The work of Resilience's threat intelligence team has led to dramatic improvements in the security of its clients, proving the importance of a commitment CEO and Founder Vishaal "V8" Hariprasad made to President Joe Biden more than a year ago. These developments have been quantified to observe progress over the years, and Resilience's team has seen massive improvements in targeted threat outreach, fighting ransomware, and overall strengthened cyber hygiene.

When providing targeted outreach about specific threats, Resilience has seen:

External misconfigurations & exposures reach a 100% remediation rate.
WEB (HTTP/HTTPS) vulnerabilities reach a 100% remediation rate.
MSFT exchange remote code vulnerabilities reach an 88% remediation rate.

This accompanies dramatic improvements in the company's insured base in critical areas for fighting ransomware, such as:

Network Segmentation (12% improvement rate).
IT/OT Network Segmentation (16% improvement rate).
Email access requires MFA (12% improvement rate).
Backups Encrypted (10% improvement rate).
EDR adoption of (9% improvement rate).

"I'm proud of our team, broker partners, and our customers for helping launch this new model for cyber resilience. We have seen dramatic results in just a short while, and are excited to accelerate our growth into markets like the UK, EU, and Canada," Hariprasad said.

"In my decades in the insurance industry, I have never seen results this dramatic. Combining risk transfer, with cybersecurity visibility, and cyber hygiene is actively making clients safer and materially reducing economic losses they experience," said Resilience President Mario Vitale.

Resilience's Cyber Primary Care client base has expanded dramatically as clients look to improve their cyber hygiene. Some of the top areas in which clients are working with Resilience include:

Bringing security control standards up to underwriting guidelines for removal of sub-limits, reducing retention, and addition of extortion coverage.
Deploying technical security controls by evaluating vendors, assimilating threat intelligence, and implementing identity access and vulnerability management tools.
Building their security program with board-level security briefings, third-party risk management (TPRM) programs, and governance risk and compliance policies.

In August of 2021, Hariprasad attended the White House Cybersecurity Summit on how organizations should optimize cyber insurance coverage to produce stronger cybersecurity. Keeping their commitment, Resilience has been working to leverage its industry-leading combination of risk transfer and risk mitigation to create Cyber Resilient partners.

In making that commitment last year, Hariprasad told the President "When insurance is at its best, it is doing two things: it is paying covered claims, whether it is health, auto, or cyber insurance; and, it is pointing the way to those actions or steps that make bad things less likely to happen - whether that be quitting smoking, wearing a seat belt, or deploying MFA. Our obligation is to do both."

Now more than a year in, that commitment is paying off.

None of this progress would have been possible without Resilience's incredibly strong network of brokers, who have worked arduously to support an innovative approach to cyber insurance. Resilience thanks all of its brokers and clients for their diligent efforts toward improving cyber hygiene and raising awareness of cybersecurity.

At Resilience, we believe the next generation of successful companies will adopt a holistic Cyber Resilience strategy that integrates risk transfer and risk mitigation in a way that it can take a digital hit without having a material impact on their ability to deliver value. As a partner in managing cyber risk, our goal is to help you prepare, protect, and progress your cyber resilience capabilities – starting with comprehensive cyber insurance coverage augmented by a cyber primary care program, an annual engagement that includes comprehensive risk control guidance with your cyber insurance. For more information visit us at www.resilienceinsurance.com

About Resilience

Resilience is the next-generation cyber risk company that's on a mission to help make the world cyber resilient.

Founded in 2016 by experts from across the highest tiers of the US military and intelligence communities, augmented by prominent leaders and innovators from the insurance and technology industries, the privately-held firm is rewriting the rules of how cyber risk is assessed and managed for middle to large market enterprises. Rooted in decades of experience, Resilience helps financial, risk, and information security leaders continuously improve their organizations' cyber resilience by connecting cyber insurance coverage with advanced cybersecurity visibility and a shared plan to reinforce great cyber hygiene.

Resilience is proud to be backed by leading technology investment firms including General Catalyst, Lightspeed Venture Partners, Intact Ventures, Founders Fund, CRV, and Shield Capital. With headquarters in San Francisco, Resilience's team is globally dispersed, with offices in New York, Chicago, Baltimore, Toronto, and London. Resilience offers insurance coverage through its licensed and appointed insurance agency and security services through its expert security team.

Media Contact: Resilience
Email: [email protected]

SOURCE Resilience