AdvantageGo and FortifyData partner to enhance cyber risk analysis for underwriters
AdvantageGo, a commercial re/insurance software provider and part of Coforge, has formed a strategic partnership with FortifyData, a cyber risk management solutions provider, aiming to enhance underwriters’ ability to analyse cyber risks.
FortifyData’s platform identifies and evaluates cyber risks by directly assessing organisations. It provides a risk-based view of vulnerabilities and security ratings for underwriting.
With this integration into AdvantageGo’s Underwriting Workbench, cyber insurance underwriters will gain access to FortifyData’s analytics, alongside data from brokers, clients, internal sources, and other third parties.
This partnership represents a unique integration, incorporating ecosystem data providers into the new cyber-specific edition of AdvantageGo’s Underwriting Workbench, tailored specifically for cyber underwriters.
FortifyData offers forward-looking risk insights, complementing other partnerships that provide cyber loss data and industry classifications. This layered approach enhances the cyber-specific edition of the Underwriting Workbench.
The AdvantageGo Ecosystem allows insurers to choose from leading technology providers through a single source, accelerating digitisation and streamlining operations.
Ian Summers, Global Business Leader at AdvantageGo, commented, “It’s great news to announce this latest AdvantageGo Ecosystem partnership with FortifyData. Their threat analysis and mitigations insight provides a strong rationale to support the cyber underwriter’s risk and pricing decision-making process.
“The cyber security ratings provided by FortifyData are a best-of-breed insight for risk selection, pricing, as well as security and compliance control deficiencies. Furthermore, by integrating with other data inputs offered through our cyber Underwriting workbench, they offer cyber underwriters something greater than the sum of its parts.
“This unique integration partnership is about generating insights, and going beyond the goal of digitising processes, towards providing a 360 degree risk view of the past, present and future for cyber underwriters,” Summers concluded.
Victor Gamra, CEO of FortifyData, remarked, “It is exciting to be at the forefront with this shift in the insurance industry, where insurance providers are looking for more thorough and complete assessment data to help with better underwriting. I am looking forward to the industry adopting similar approaches as they look to better understand their risks, comprehensively, to reduce their own liability exposures.”
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