Cybersecurity Risk Monitoring – Common Uses
At DynaRisk, no two projects are the same, which is what makes each day so exciting!
We’re lucky to work with a huge range of clients, spanning multiple industries, worldwide.
To give you a better understanding of how different businesses can utilise our products, here is a quick overview of our most common use cases.
As the need for cyber protection for businesses continues to grow, more and more insurers are looking to offer their policyholders simple but comprehensive solutions to help them prevent both cyber attacks and reduce cyber claims.
That’s where DynaRisk fits in.
The insurance industry wants to make sure they have a good loss ratio and that policyholders are engaged and find value in their insurance products even if they never have a claim. (re)Insurers and MGAs want to monitor whole portfolios of companies with Breach Check for critical cybersecurity risk issues to help improve their loss ratio while providing a superior service to their insureds than their competitors.
While only 3%-5% of policyholders will file a claim, 100% of the policyholders can benefit from being monitored for high-risk cyber security issues that could result in their company getting hacked.
Brokers, on the other hand, see significant value in Breach Check for business development. Breach Check helps them generate new leads, by being able to quickly and easily identify which businesses and sectors are most at risk, and therefore, most in need of the insurance and risk management services they can offer. Brokers use the powerful data Breach Check provides to help them stand out during the sales process. There is a big difference between pitching a client on a service that’s a nice to have vs something you know the client needs because they were attacked 4 weeks ago.
IT Managed Services Providers
Another common use case for our products is IT Managed Services Providers. These clients use our software to enhance their services and to provide their clients with ongoing value and insight.
They use Breach Check to help prospect for new business, monitor their portfolio of clients for cyber risk issues, and to be able to identify any risks or trends in the market that could leave their clients vulnerable.
IT Managed services providers use the insights we uncover to tailor their service offerings around the real risks their customers are facing. There is a big difference between pitching a client on a service that’s a nice to have vs something you know the client needs because they were attacked 4 weeks ago.
Cybersecurity Consultants & Advisors
Finally, Cybersecurity Consultants & Advisors are another common use case. These clients see significant value in Breach Check, as it helps them to win new clients by identifying those in need of their services, and our powerful data can also help them stand out in the selection against competitors.
These clients often use Breach Check to regularly monitor their portfolio of clients and to constantly check for any risks that could leave their clients exposed, enabling them to give their clients the most effective guidance.
Penetration Testers are another great example of clients in this category who can use Breach Check to support their client consulting, as it allows them to quickly and easily identify issues that would fit into a penetration testing engagement.
And that’s a quick overview of the most common use cases we see for our products. At DynaRisk, we’re not a one-size-fits-all solution. We like to understand exactly what our clients and their customers need, and how our software, data, and insight can support them. Hopefully, now you’ll have a good understanding of how our products can support various business needs. Have an idea for how we can help you protect your business or clients from cyber attacks that we haven’t thought of? Please let us know!
Now that you know what the common uses are for Cybersecurity Risk Monitoring, check out our next article in the series, Cybersecurity Risk Monitoring – Cost Estimator. Want to find out more? Visit our product page to find out exactly how Breach Check works.