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Technology Risk Insurance will provide a safe platform for users to decelerate risks and Costs Of Technology-Related Incidents.
FREMONT, CA: An intelligent decision platform provider QOMPLX, which makes it faster and easier for organizations to integrate all of the disparate data sources across the enterprise into a unified analytics infrastructure to make better decisions, has unveiled technology risk insurance.
This insurance will prove a double-edged sword to the industries, which are on the horns of a dilemma: how to improve their operations and how to insure the risks these technologies present to their customers. Technology risk insurance will enable companies to reduce risks and costs resulting from technology-related incidents.
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A good risk management system can rapidly decrease the percentage of risk and can change the way businesses operate and interact with customers. QOMPLX technology risk insurance branched to multiple traditional insurance silos. The company provides platforms for cybersecurity, insurance underwriting, and quantitative finance. The Identity Assurance module detects Golden Ticket, Silver Ticket, DCSync, and DCShadow, without false positives.
The corporate world needs comprehensive real-time data from all aspects of its technology that can be used for risk management to provide better insurance products. The new risk management system will transform the operational risk of companies and the insurance industry's approach.
Cyber-insurance is insurance used to protect businesses and individual users from Internet-based risks but now they are providing poorly defined and narrow incomplete coverage. Dissimilar to Cyber-insurance, QOMPLX Technology Risk Insurance will improve transparency and simplifying language for all parties.
QOMPLX’s insurance is focusing on five components: theft and extortion, system breach, interruption of third-party systems, and errors & omissions. Under the hood of traditional approaches with a continuous monitoring program that fuses data from across internal, external, internet infrastructure, and governance, risk, and compliance (GRC) programs, QOMPLX is providing a fair and safe platform for the companies.
The new product will be available for sale in the United Kingdom later this year, and availability to the United States and Australia will be by 2020.