London, 15 April 2024 – Canopius Group, a leading global specialty (re)insurer, today announces its partnership with Group-IB, a leading creator of cybersecurity technologies. This partnership strengthens Canopius’ cyber insurance offering with further advanced threat intelligence capabilities.
As Group-IB’s first full-service partnership with a Lloyd’s of London syndicate, the collaboration will provide Canopius policyholders with an additional level of protection and threat intelligence. The new offering includes enhanced risk assessments, real-time threat notifications and informed strategies for threat mitigation.
Canopius’ underwriters will now have enhanced capabilities to assess the likelihood of cyber risks and conduct comprehensive risk assessments, providing quantitative insight into the financial benefits of security measures. This advancement will allow for the provision of more precise and cost-effective coverage to Canopius’ clients. Canopius will extend this expertise and these new capabilities to their policyholders through detailed threat reports and their catalogue of proactive cyber services.
Canopius’ threat intelligence function collects in-depth data from multiple sources, including attack methods and technical impact information from the internal Cyber Incident Management team, claims data and open-source feeds. Group-IB will now supplement this with data obtained via adversary intelligence, vulnerability and malware information, and dark web visibility.
The venture further solidifies Canopius’ commitment to delivering a world-leading cyber offering as the cyber market continues to mature and new risks emerge.
Matt Northedge, Global Head of Cyber at Canopius, said: “Every organisation has its own unique exposures, risks and threats. This partnership combines the expertise of Group-IB’s threat intelligence analysts with Canopius’ insurance and risk management knowledge to offer an exceptional technical approach to cyber risk management. In joining our capabilities, we have developed an intelligence-led model and product, offering an unparalleled perspective on the cyber threat landscape for our clients.”
Dmitry Volkov, CEO of Group-IB, said: “As cyber threats evolve in complexity and unpredictability, threat intelligence is crucial for building resilience against both current and future threats. Group-IB is committed to delivering multi-sourced and tailored insights from its threat intelligence teams, Digital Forensics and Incident Response (DFIR) labs, alongside our Digital Crime Resistance Centers (DCRCs) around the globe. We are confident that our partnership with Canopius will enable round-the-clock visibility, vigilance and cyber threat profiling necessary for effective cyber risk management.”
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