Intangic MGA, a data science-focused MGA, has announced the launch of a cutting-edge early warning tool, the Intangic CyFi Dashboard.
This tool offers unparalleled data-driven predictions for potential cyber breaches, positioning the company as an emerging leader in preventative cybersecurity measures.
The launch of CyFi Dashboard comes as a response to an increasing demand in the market for proactive solutions against cyber breaches. Intangic MGA identified the need for companies to understand and quantify how many attacks they have not been able to block and have created this tool to address the problem.
Specialising in leveraging data science for predictive analytics, Intangic MGA works at the intersection of technology and insurance. By applying cutting-edge data science techniques to identify and mitigate potential cyber risks, the firm aims to redefine how companies approach cybersecurity.
The newly launched CyFi Dashboard delivers an early warning system for potential cyber breaches. It monitors cyber attacks on a scale that surpasses current industry standards, enabling clients to detect increased risk levels within their network sooner than their competitors, and mitigate the risk before a breach can become serious.
Furthermore, the CyFi™ Dashboard has a proven track record for accurately predicting 81% of significant cyber breaches involving public companies. These predictions were made, on average, 19 months prior to the official breach announcements, according to data provided by Intangic MGA.
Additional features of the dashboard include the ability for companies to calculate their breach probability and potential financial loss. This is based on their performance in blocking attacks compared to their peers. Such information not only aids in taking preventative measures but also serves as a unique tool for risk management.
Intangic MGA’s CEO and founder, Ryan Dodd, expressed his thoughts on the new product, “Within the insurance market, cyber is typically modelled as a low frequency, high severity event. But we know cyber attacks can be analysed as a high-frequency risk. Through our new proven early warning capability, we are able to offer companies a next-generation risk management program.”
Further, Dodd emphasised the company’s unique approach towards cybersecurity. He said, “We have collected data from 200,000 companies for over five years, and we have found that companies that are the worst at blocking attacks are more likely to experience sustained financial underperformance versus peers who are better at blocking cyber threats early. Tackling cyber risk with a preventative approach is a new way to look at the problem, and that’s what we’re doing at Intangic MGA.”
Willis Towers Watson (WTW), a leading global advisory and broking firm, has recently launched its advanced Cyber Quantified model.
Keep up with all the latest FinTech news here
Copyright © 2023 FinTech Global
