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FireEye helps Insurance Industry with Advanced Risk Assessment Services

By CIOReview | Friday, September 30, 2016

Milpitas, CA: FireEye, a security company that aims to provide automated threat forensics and dynamic malware protection has announced the Cyber Risk Evaluation and Threat Engagement (CREATE™) program, addressing insurance brokers’ and underwriters’ critical need to gain visibility into enterprises’ exposure to cyber threats. Lockton, an independent insurance broker will serve as the CREATE program’s inaugural partner.

The CREATE program uses the FireEye® Threat Prevention Platform technologies and services to help insurance brokers and underwriters assess organizations' cyber defense postures against today’s threats. In addition, CREATE will allow insurers to quickly utilize the FireEye Threat Prevention Platform for breach assessments, managed services, and incident response services within their client engagements.

"Cyber insurance is a growing, essential corporate reality as advanced, targeted attacks and nation-state sponsored cyber attacks continue to increase. With the introduction of CREATE, FireEye is proud to have our unparalleled expertise in mitigating cyber attacks and identifying gaps in traditional security architectures leveraged as a solution for the insurance industry. As our launch partner, it is exciting to see that Lockton has recognized the importance of utilizing technologies and services purpose-built for today’s threat landscape," says Steve Pataky, VP of worldwide channels and alliances, FireEye.

As cyber risk rises in prominence in boardrooms around the world, the global cyber insurance market continues to grow at a rapid rate. In addition, new cyber insurance solutions have been developed to address gaps in property and terrorism coverage in the event of a cyber-attack. These policies offer affirmative coverage for both Enterprise IT and Industrial Control Systems environments, covering physical damage as well as business interruption resulting from physical or non-physical damage.

To support the growing needs of the insurance industry, FireEye CREATE will offer brokers and underwriters; Technologies and services purpose-built for today’s advanced threats that find gaps in enterprises’ security architectures and can quickly remediate them; Policy placement assistance that enables underwriters to allow for differentiated risk and premium offerings for clients; Post-breach services to evaluate and minimize impact should an insured client be breached; and Ongoing advanced security support for clients via FireEye Managed Defense, the FireEye Network Security platform, Threat Analytics Platform, annual assessments, and security operations plans.

"Leveraging the FireEye technologies and services team’s experience, we will expand our ability to provide clients with a holistic, intelligence driven approach that goes beyond simple benchmarking of limits and placement of insurance. Our clients will value the insights that CREATE offers into their risks. This relationship with FireEye is a game-changer because clients will be able to proactively address threats and subsequently responds appropriately to events, ultimately lowering their risk profile," says Michal Gnatek, VP of technology, Lockton. "