Home Business Probitas 1492 Engages KYND for Advanced Cyber Risk Modelling to Fuel Profitable Expansion

Probitas 1492 Engages KYND for Advanced Cyber Risk Modelling to Fuel Profitable Expansion

Probitas 1492 Engages KYND for Advanced Cyber Risk Modelling to Fuel Profitable Expansion

KYND Limited, at the forefront of managing cyber risk, has today unveiled its partnership with Probitas 1492, a distinguished underwriting syndicate within Lloyd’s of London. This collaboration aims to bolster the growth of Probitas’ cyber insurance offerings. Utilising KYND’s cutting-edge risk intelligence and analytics, Probitas will enhance its ability to evaluate and mitigate cyber risks throughout the insurance process. This includes refining underwriting practices, managing ongoing risks within the portfolio, and comprehending systemic risks, such as the implications of custom war scenarios.

Under this partnership, the Cyber underwriting team at Probitas will gain access to the upgraded KYND SIGNALS service. This industry-first service allows for continuous and targeted monitoring of a cyber insurance portfolio’s health, aiding in the prevention of potential claims and losses. The service now includes KYND SIGNALS Client Reports, which deliver actionable, prioritised insights to aid in risk assessment and help insured parties bolster their cyber defences.

Moreover, the collaboration heralds the adoption of KYND’s innovative Exposure Management solution, offering transparent, detailed, and highly customisable cyber catastrophe scenarios. This tool is designed to refine and augment the syndicate’s internal cyber models, providing precise insights into potential loss factors and areas of risk accumulation, including scenarios of war and state-sponsored cyber events. This strategic approach is especially pertinent amidst escalating geopolitical tensions and evolving market demands, ensuring a thorough risk and impact assessment.

Andy Thomas, founder and CEO of KYND, expressed his enthusiasm: “We’re delighted to partner with Probitas to support them and their clients alike at every stage of cyber risk management, from risk selection to exposure management. Keeping pace with the dynamic nature of cyber risk as well as understanding and assessing systemic cyber risk and points of accumulation is one of the foremost challenges confronting the insurance industry today. We are therefore excited to combine our distinctive cyber risk intelligence and models with Probitas’ specialist expertise and forward-looking approach not only to help overcome existing hurdles but also contribute to the creation of a more resilient and sustainable market through the industry’s advanced view of cyber risk.”

Richard Taylor, Head of Cyber & Technology at Probitas 1492, shared his perspective: “Amid a digital revolution, the corporate world is now increasingly reliant on technology and data, fostering greater connectivity than ever before. However, this shift presents many benefits and risks for modern businesses, including ever-evolving cyber threats. As a leading and specialised (re)insurance Lloyd’s syndicate, we need to be ahead of the curve. So we see it as a strategic imperative to continually search for the latest innovations. KYND’s insurance focus and unrivalled approach to cyber risk management, coupled with the flexibility and transparency provided by its innovative deterministic cyber catastrophe modelling, made partnering with them an easy decision to further enhance our underwriting and portfolio risk management capabilities as well as help inform capacity decisions.”


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