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"Cyber insurance needs to be more of a full-stack offering. It should not be just a risk transfer product that covers paid claims," adds Michael Phillips, Chief Claims Officer, Resilience. "Insurers have to be there for risk management, recovery in the wake of an attack, provide tools that prevent these threats, manage attacks that happen, and help customers stay ahead of any future threat."
Backed by the financial strength of an A+ rated capacity partner, Resilience offers cyber insurance policies with a high level of personal service, market-leading coverage, and bespoke security solutions. "Companies in the middle market segment find themselves squeezed from multiple directions. First, they're under tremendous pressure to digitize their operations. They need to gain valuable insights from their technological deployments. There has been a large spike in destructive cybercrime. Finally, they are riddled by a complex regulatory landscape," continues Phillips.
"Our goal is to upgrade the cyber insurance industry to better serve this specific market segment and make recovery as effective as possible."
Backed by the prowess of many such successful partnerships, Resilience will be stepping up its game by extending its footprint into the APAC and European markets this year. Apart from the geographical expansion, the company has also launched the beta version of a suite of risk management solutions for vendors. "We'll always be laser-focused on giving our clients a broad roadmap that helps them be more cyber resilient in the future," concludes Phillips.
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Company
Resilience
Headquarters
San Francisco, CA
Management
Michael Phillips, Chief Claims Officer
Description
Resilience offers a fresh approach to the middle market in cyber insurance backed by A+ rated carrier and an in-house claims team