The platform for profitable cyber insurance growth and Data-driven cyber risk analytics built for the insurance industry. ShieldNXT's analytics platform provides an unrivalled ecosystem of data, signals and models to fuel cyber risk quantification.
Capability to create multiple questionnaire to capture as much Client IT data possible.
Real time analysis of client IT data to create RISK score and assessment details.
Detailed analysis on the generated RISK score to assist Insurers with Cyver risk insurance
Over the past decade, cyber attacks have grown at outstanding rates. Third-party-related cybersecurity risks increased after making the move to a remote workforce.
There are several key factors that are the driving forces behind the rise of cyber incidents, including:
In an ever-increasing digital landscape, businesses have recognised the importance of protection against cyber attacks.
From state actors to professional hackers and groups is in the lookout for vulnerabilities to exploit.
SHIELDNXT is a analytics platform using various standard/ insurer led models to calculate cyber risk quantification.
Use objective data and predictive analytics to evaluate cyber exposure. This helps underwriters lower their loss ratios, while brokers can optimize premiums and coverage for their clients.
Do business with cyber-risk stakeholders quickly and easily. By leveraging automation within a single platform, brokers, underwriters, and insureds can work together more productively.
Deliver value-add services to win and retain customers. With insights and tools designed to minimize losses, customers see an ROI that goes beyond a typical insurance policy.
Access the real-time data and analytics you need to win in a dynamic cyber insurance market. ShieldNXT helps brokers, insurers, and reinsurers work with stakeholders to identify risk-mitigation strategies.
Know-Your-Customer (KYC) is a process used to identify and verify the identities of customers to prevent fraud. InsurTech can facilitate this process by using software with stored customer identification records and customer record management databases.
Fraud detection is another area where technology is having an impact in the insurance industry. InsurTech can be used to more accurately detect and avoid losses related to fraudulent claims, through the use of authentication and verification processes, duplicate transaction detection, and public records checks.
Big data and data analytics are also important in the insurance industry. These tools allow companies to obtain more insights about the needs of their customers and offer more customized products and services.
Product Development Inform actuarial analysis and underwriting guidelines. Underwriting Improve risk selection and implement straight-through processing. Loss Control Continuously monitor risks and scale timely outreach.