I’m delighted to share that today Sophos has announced a partnership with Measured Analytics and Insurance, the AI-powered cyber insurance provider. This new partnership unlocks Measured insurance premium savings for Sophos’s U.S.-based customers in recognition of their strong cyber defenses.
The Critical Role of Cyber Defenses in Cyber Insurance Adoption
New Sophos research published today reveals that 95% of organizations that purchased a cyber insurance policy in the last year report that the quality of their cyber defenses directly impacted their insurability:
60% say it impacted their ability to get coverage
62% say it impacted the cost of their coverage
28% say it impacted the terms of their policy
The caliber of an organization’s cybersecurity defenses in protecting against active adversaries is critically important when assessing cyber risk. Organizations need to properly configure and manage security technologies, and also effectively respond to threats – and that requires an expert talent skillset.
Industry-first threat detection and response capabilities enable Sophos to meet customers where they are and with exactly what they need to ensure superior security outcomes. This partnership is validation that Sophos security solutions and managed detection and response (MDR) services are industry best, and we’re pleased that our customers can now be rewarded for their commitments to optimizing defenses.
Cyber Insurance Accelerates Ransomware Recovery
The research revealed that insurance coverage also plays a role in an organization’s ability to recover from an attack:
Organizations with cyber insurance are more likely to be able to recover data that was encrypted in a ransomware incident: 98% of those with a standalone policy and 97% of those with cyber as part of a wider insurance policy were able to recover encrypted data after a ransomware attack, compared to 84% of those without cyber coverage
Organizations with standalone cyber insurance policies are almost four times more likely to pay the ransom to recover encrypted data than those without cyber coverage: of those that had data encrypted in a ransomware incident in the last year, 59% of those with a standalone cyber insurance policy paid the ransom, compared with 37% of those with cyber as part of a broader insurance policy and 15% of those that don’t have cyber insurance
Unlocking Insurance Premium Savings for Sophos Customers
Sophos endpoint customers looking to secure insurance coverage can now ‘opt-in’ to share their security posture from the Sophos Central platform with Measured. A real-time security posture ‘snapshot’ is exclusively used to determine policy eligibility and premium discounts based on the various Sophos offerings used, protection status and security hygiene of protected assets, and compliance with Sophos recommended security policies.
The connection between robust cyber defenses and optimized cyber insurance makes this partnership a natural extension of our innovative, analytic approach to cyber underwriting. We are trailblazing a frictionless path to cyber insurability through data-driven, quantifiable underwriting. We’re rewarding organizations that use Sophos with better coverage and lower rates because of their stronger cyber hygiene and lower risk profile.
– Jack Vines, CEO, Measured
Please note that Sophos is not a licensed insurance producer and does not sell, solicit or negotiate insurance products. By providing access to any third-party websites, Sophos is not recommending or endorsing any such third parties, or any products or services offered by such third parties. To the extent you access a third-party website from a Sophos website, please be advised that Sophos does not investigate, monitor, or check any third-party websites, or the content of such websites, for accuracy, appropriateness, or completeness, and you are solely responsible for your interactions with such third parties.