SentinelOne Launches WatchTower Vital Signs Report for Cyber Insurers' Risk Management
October 25 2022 - 8:00AM
Business Wire
“Inside-Out” Risk Report Brings Visibility into
Organizations' Telemetry, Identifying Cyber Threat Exposure &
Helping Lower Cyber Insurance Premiums
SentinelOne (NYSE: S), an autonomous cybersecurity platform
company, today announced the WatchTower Vital Signs Report app in
the Singularity Marketplace. For organizations, this new reporting
capability communicates an accurate profile of cybersecurity
posture and controls to cyber insurers, streamlining the process of
obtaining cyber insurance coverage. For cyber insurers, the app
provides a real-time “inside-out” view of an enterprise’s
cybersecurity health for improved policy accessibility and reduced
underwriting risk.
“The state of today’s threat landscape is pushing the cyber
insurance industry to its breaking point,” said Barnaby Page, VP
Incident Response & Cyber Risk, SentinelOne. “Underwriting
risks have become too much for insurers to stomach while rising
premiums are causing enterprises to struggle in procuring cyber
insurance. The industry needs better means to gauge and demonstrate
exposure to cyberthreats, and we are happy to collaborate with
leading risk vendors to enable the WatchTower Vital Signs
Report.”
The growing number of costly data breaches, ransomware, and
cyber incidents resulted in claim payout losses for insurers rising
300% from 2018 to 2021. Consequently, in Q2 2022, U.S. cyber
insurance prices increased 79% YoY. Between reduced carrier
appetite for underwriting risk and ascending premiums, many
organizations are finding it difficult to obtain coverage,
regardless of security posture.
Historically, underwriters and brokers have defined
organizational risk exposure using external scans, which don’t
validate against cyber incidents or security controls
effectiveness. SentinelOne’s WatchTower Vital Signs Report is based
on an organization’s internal risk posture and data – capturing
signals that are dynamically changing and providing deep context
into risk exposure.
Leveraging Ranger Active Directory, Singularity XDR’s real-time
identity attack surface module, the new reporting offering assesses
susceptibility to cyber threats, including unknown assets and
identity exposures – two of the leading vectors for today’s
security incidents. This enables cyber insurers and brokers to gain
unparalleled insights for their underwriting and risk management
remits – lowering loss ratios with accurate risk pricing while
increasing cyber insurance eligibility, premium discounts, and
favorable coverage terms for organizations obtaining and renewing
policies. In addition, businesses at risk of attack are provided
with actionable, real-time insights to improve cyber
resiliency.
Supporting Quotes:
“Coalition is committed to helping organizations of all sizes
and industries secure cost-effective and comprehensive cyber
insurance policies. SentinelOne’s WatchTower Vital Signs Report is
a much-needed step in creating a common language for organizations
and insurers and encouraging transparency. Together with
SentinelOne, we help organizations build resilient and
multi-layered cybersecurity programs that prevent digital risk
before it strikes.” - Michael Carr, Head of Risk Engineering, North
America, Coalition
“Corvus is pleased to partner with SentinelOne in using the
WatchTower Vital Signs Report. With increased attention paid to the
report’s key cyber risk indicators, Corvus can further educate and
support our policyholders in understanding their unique risks and
remediation tactics. We’re thrilled that through our partnership,
Corvus can be at the forefront of this important transformation in
the cyber insurance market, creating even more value for our
policyholders.” - Madhu Tadikonda, CEO, Corvus Insurance
"Cowbell applauds SentinelOne for taking this giant step that
benefits both SentinelOne customers and Cowbell policyholders. In
collaboration with SentinelOne as a WatchTower Vital Signs Report
founding partner, we are expecting to increase the efficacy of our
risk pool that is continuously monitoring over 90% of U.S. SMEs for
their cyber posture. This cybersecurity and cyber insurance
partnership is aimed to help SMEs build resiliency across the
complete cyber risk lifecycle." - Jack Kudale, CEO, Cowbell
Cyber
About SentinelOne
SentinelOne’s cybersecurity solution encompasses AI-powered
prevention, detection, response and hunting across endpoints,
containers, cloud workloads, and IoT devices in a single autonomous
platform.
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