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Canopius Group to offer improved cyber insurance offering with Group-IB collaboration

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Azunta Gaviola

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2 months ago

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Singapore – Global specialty (re)insurance company Canopius Group has recently announced its partnership with cybersecurity firm Group-IB, with the goal of strengthening the company’s cyber insurance offering through advanced threat intelligence capabilities.

For this collaboration, Group-IB will offer Canopius policyholders added security and threat intelligence, which further introduces upgraded risk evaluations, instant threat alerts, and expert strategies for mitigating threats.

Underwriters under Canopius will also gain advanced capabilities to evaluate cyber risks and perform thorough risk assessments. This offers quantitative insights into the financial advantages of security measures and enables the provision of more precise and cost-effective coverage to Canopius’ clients. 

The company’s threat intelligence function is also set to gather comprehensive data from various sources, including attack methods and technical impact information from the internal Cyber Incident Management team, claims data, and open-source feeds. 

With this, Group-IB will now enhance the acquired data through adversary intelligence, vulnerability and malware information, and dark web visibility. 

Commenting on the initiative, Matt Northedge, global head of cyber at Canopius, shared, “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,” added Matt.

Dmitry Volkov, chief executive officer at Group-IB, also 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 Centres (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,” Dmitry further explained. 

The said partnership underscores Canopius’ dedication to providing a top-tier cyber offering as the cyber market evolves and new risks arise.

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Video Title Here: The Indonesian on-ground activation status

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Video Title Here: The Indonesian on-ground activation status

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