Meet insurtech: KYND | Digital insurance

KYND, a cyber risk technology and consulting provider founded in 2017, was named by CNBC as one of the world’s top 150 insurtech companies in 2024. Insurtech, which helps insurers and cyber brokers assess cyber risk profiles and exposures in their portfolios, was recognized in the Underwriting and Risk Analysis category for its effective use of data analytics technology.

“Insurance is very much in our DNA and we’ve been on quite a journey helping our partners understand, write, sell and purchase cyber liability insurance,” said Ben Duffy, head of KYND to North america. “We provide technology mapping and active monitoring of the cyber risk portfolio. It’s a complete end-to-end underwriting workbench, from understanding insurers and avoiding adverse selection to improving your control and risk position.”

KYND provides event response, exposure management and accrual analysis to help its partners better understand systemic cyber losses. Its technology also detects “zero-day exploits,” software vulnerability flaws that are unknown or unaddressed and expose a security gap.

“What makes KYND truly unique is our ability to combine highly advanced, complex and deep analytics with speed in the background, but deliver them with simplicity and accessibility at the heart of products and solutions,” said Duffy.

The platform continuously monitors and alerts you about scam attempts and attacks. Some of its analysis tools include reviewing internal security systems and practices, cloud security, data breach protection, domain discovery, expired certificate risks, and phishing or malware attempts. Instead of providing cyber risk scores, KYND will provide its partners with risk insights and actionable decisions to improve security.

Its mission is to “demystify” complex cyber risk analysis by promoting simplicity in its platform and tailoring the experience to specific customer needs. KYND builds custom solutions for their partners due to the unique needs or risk sensitivity of each underwriter or broker.

“We’ve built a proprietary technology and data stack that is based on fast, live, fresh results every time. We do not pull from a catalog of organizations, we are not constrained by geography, industry or organization sites. We are a digital analysis, Duffya added.

KYND also uses artificial intelligence and machine learning in its advanced data analysis to simplify and accelerate the process of detecting cyber risk.

“In the rapidly evolving cybersecurity landscape, artificial intelligence is both a powerful tool and a formidable adversary. KYND uses AI to revolutionize cybersecurity defenses with advanced threat detection, predictive analytics and automated response mechanisms,” said Manu Singh, Head of Cyber ​​at KYND. “At the same time, we are addressing the emerging threats posed by AI-based attacks, including sophisticated phishing schemes, AI-based malware and deepfake technology, by delivering easy-to-understand, accurate and on-demand results through our API.”

The British insurtech officially launched in the US in July 2024.

Duffy said: “We’ve made huge strides forward in terms of our innovation in risk selection, in terms of rapidly understanding single insurance. But we’re not done here. We want to make that interaction between insurer and insured as frictionless as possible. “

This year, KYND plans to launch an underwriting platform that helps remove the burden of the application form and create a more efficient pre-subscription process. Plans also include improving exposure management and accrual analysis in a way that is more interactive and easy to integrate into internal models. Its focus on incident response and zero-day efforts to “make this as insightful, automated and actionable as possible,” Duffy said. “We’re not just an additional shaper, we’re here to supercharge the growth ability of those teams to mature their cyber programs.”