SOFTWARE SECURITY
SixThirty | September 02, 2021
SixThirty today announced the appointment of David Fairman and Dustin Wilcox as Partners and Chief Information Security Officers (CISOs)-in-Residence. Together, Fairman and Wilcox will offer seasoned cyber expertise and guidance to SixThirty's portfolio of early stage fintech, insurtech, privacy and digital health companies.
"As the velocity and sophistication of cyber-attacks and data breaches rise exponentially across the globe, security practices and controls must be designed and integrated into the fabric of our investments from the ground up. No longer can solutions have security bolted on as an afterthought." said Atul Kamra, SixThirty's Managing Partner. He continues, "In an age of rapid digital transformation, speed to adoption and speed to market are all the rage, but the underappreciated factor in scaling enterprise technology start-ups is speed to trust."
The creation of these roles will allow SixThirty to accelerate trust, cross-pollinating cyber risk and privacy capabilities across the entire portfolio as Wilcox and Fairman work directly with entrepreneurs pre and post-investment.
"In partnering with SixThirty, we will help ensure that resilient and secure enterprise technology solutions are brought to market, ultimately helping deliver solutions that make a positive impact across the global cyber security industry," Fairman said.
Focusing on security controls across the entire portfolio will also generate greater returns in the long run. Wilcox states, "Investing in more secure solutions will result in a more sustainable portfolio. As CISOs-in-Residence, we'll ensure we're bringing value both to SixThirty's portfolio companies, and to its investors."
Fairman currently serves as Chief Security Officer (CSO) for Netskope APAC, the world's fastest-growing private cybersecurity firm. He was previously CSO at National Australia Bank. Wilcox is Vice-President and CISO for Anthem, a Fortune 30 global leader in managed healthcare. He previously served as Vice-President and CISO for Centene Corporation.ac
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DATA SECURITY
Coalition | December 14, 2021
Coalition, the world's largest commercial insurtech provider, today announced it will launch a new captive to begin taking risk on its cyber insurance programs. With this captive, Coalition will enhance its ability to manage capacity and its long-term growth objectives while further aligning incentives with its customers.
Coalition's technology-driven approach is powering a new, more successful model of risk management, which has resulted in policyholders experiencing 70% fewer cyber claims when compared to other carriers in the market. In 2021, the success of Coalition's underwriting model was validated by long-term capacity agreements from multiple A+ rated carriers. Coalition has delivered superior claims results amidst significant growth as it crosses $400M in run rate premium, an 800% increase over the prior year.
"Today's announcement demonstrates our unwavering commitment to protecting businesses from cyber risk, and our confidence in Coalition's approach to underwriting and risk management,Coalition provides businesses with the most comprehensive insurance available backed by the financial strength of multiple A+ rated insurers. With our new captive, we add another layer of security and stability, and more closely align our financial incentives with our customers."
Shawn Ram, Head of Insurance at Coalition
Dovid Tkatch, Coalition's recently appointed Head of Insurance Infrastructure and Actuarial Science, will support development of the captive as well as oversee pricing, reserving, capital requirements, and regulatory compliance.
Coalition's broker platform integrates real-time security, financial, regulatory, and transactional data to create a seamless quoting experience where brokers can generate bindable quotes in just 5 minutes. Today Coalition serves over 130,000 customers with digitally-powered insurance that can leverage vast amounts of data to assess, mitigate, and measure risk for businesses.
About Coalition
Coalition is the leading provider of cyber insurance and security, combining comprehensive insurance and proactive cybersecurity tools to help businesses manage and mitigate cyber risk. Backed by leading global insurers Swiss Re Corporate Solutions, Arch Insurance, Lloyd's of London, and Zurich North America, Coalition provides companies with up to USD $15 million of cyber and technology insurance coverage in the United States, CAD $20M of coverage in Canada, and up to USD $5 million of D&O and EPL coverage in the United States. Coalition's cyber risk management platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to help businesses remain resilient in the face of cyber attacks.
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ENTERPRISE SECURITY
MRK Technologies | April 18, 2022
MRK Technologies, a cybersecurity risk management company, has announced a collaboration with Horizon3.ai to assist its clients tackle the ever-evolving ransomware threat with a new Autonomous Penetration Tests as a Service (APTaaS). Penetration testing can be automated and executed as often as needed to guarantee all systems are safe utilizing Horizon3.ai's NodeZero platform.
John Tookman, Chief Revenue Officer and Senior Vice President of MRK Technologies said that "We pride ourselves on continuously bringing the best technology to our customers. We're excited to add Horizon3.ai's NodeZero platform to our managed security services, which allows us to help ensure our customers' systems are secure."
He further added that, "In the last couple of years, we've doubled down on our efforts to build out our Security Operations Center in order to provide best-in-class service offerings to our customers. Adding APTaaS is just the next step in continuing to achieve our mission of helping our customers achieve a stronger security posture amidst the ever-evolving threat landscape."
Annual penetration testing is often seen as a compliance necessity rather than a value addition. Many pentests merely provide a snapshot of a network that is only relevant for a limited time. This new continuous APTaaS is a real SaaS product that assists cybersecurity teams in constantly identifying and fixing vulnerabilities in their systems before attackers can use them.
"Threat actors know how to chain together network misconfigurations, vulnerabilities, harvested credentials, and dangerous product defaults to create attack vectors you never imagined would be exploitable. Our partnership with MRK Technologies allows us to provide APTaaS to customers, helping them to harden their security postures with pentests that can run as often as they wish."
Snehal Antani, CEO and co-founder of Horizon3.ai
This new product complements MRK Technologies' Security Operations Center's existing managed securities portfolio, which includes Managed Detection & Response (MDR/EDR), Managed Security Information & Event Management (SIEM), Managed Deception Technology, and Managed Network Detection.
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