Canopius signs market-first partnership with Group-IB to strengthen cyber offering
PR Newswire
5 min read
SINGAPORE, April 15, 2024 /PRNewswire/ -- 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.
(PRNewsfoto/Group-IB)
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."
About Group-IB
Founded in 2003 and headquartered in Singapore, Group-IB is a leading creator of cybersecurity technologies to investigate, prevent, and fight digital crime. Combating cybercrime is in the company's DNA, shaping its technological capabilities to defend businesses, citizens, and support law enforcement operations.
Group-IB's Digital Crime Resistance Centers (DCRCs) are located in the Middle East, Europe, Central Asia, and Asia-Pacific to help critically analyze and promptly mitigate regional and country-specific threats. These mission-critical units help Group-IB strengthen its contribution to global cybercrime prevention and continually expand its threat-hunting capabilities. Group-IB's decentralized and autonomous operational structure helps it offer tailored, comprehensive support services with a high level of expertise. We map and mitigate adversaries' tactics in each region, delivering customized cybersecurity solutions tailored to risk profiles and requirements of various industries, including retail, healthcare, gaming, financial services, manufacturing, critical services, and more.
The company's global security leaders work in synergy with some of the industry's most advanced technologies to offer detection and response capabilities that eliminate cyber disruptions agilely.
Group-IB's Unified Risk Platform (URP) underpins its conviction to build a secure and trusted cyber environment by utilizing intelligence-driven technology and expertise that completely detects and defends against all nuances of digital crime. The platform proactively protects organizations' critical infrastructure from sophisticated attacks while continuously analyzing potentially dangerous behavior all over their network.
Furthermore, Group-IB's full-cycle incident response and investigation capabilities have consistently elevated industry standards. This includes the 70,000+ hours of cybersecurity incident response completed by our sector-leading DFIR Laboratory, more than 1,400 successful investigations completed by the High-Tech Crime Investigations Department, and round-the-clock efforts of CERT-GIB.
Time and again, its solutions and services have been revered by leading advisory and analyst agencies such as Aite Novarica, Gartner®, Forrester, Frost & Sullivan, KuppingerCole Analysts AG, and more.
Being an active partner in global investigations, Group-IB collaborates with international law enforcement organizations such as INTERPOL, EUROPOL and AFRIPOL to create a safer cyberspace. Group-IB is also a member of the Europol European Cybercrime Centre's (EC3) Advisory Group on Internet Security, which was created to foster closer cooperation between Europol and its leading non-law enforcement partners.
Canopius is a global specialty (re)insurer with underwriting operations in Australia, Bermuda, Singapore, the UK and US. It underwrites through Lloyd's Syndicate 4444 (managed by Canopius Managing Agents Limited), a US surplus lines insurer, Canopius US Insurance, Inc and Canopius Reinsurance Ltd, a Bermuda based Class 4 Reinsurer.
