UNDERWRITING LOSS CONTROL
Automated Platform for Cyber Loss Control
Because the cost of covering a cyber event can be exorbitant, underwriters are looking for loss control programs that are focused on mitigating cyber risk for themselves and their clients and maintaining a predictable Loss Ratio.
NetDiligence® just made it easier for insurers to start and sustain a cyber-focused loss control program.
QuietAudit® Underwriting Loss Control (ULC) is a is a due-diligence platform that allows insurers to easily collect the data security and privacy practices of their client/policyholder, score those practices against industry standards, and produce a “scorecard” that details the client’s cybersecurity strengths and weaknesses.
With QuietAudit ULC, you simply invite applicants for cyber coverage to “self-attest” to their data security and privacy controls. Our simple, automated process enables you to:
- Put clients on notice that they are expected to have reasonable security in place for the sensitive data they hold.
- Educate clients, giving them insight into where their safeguard practices fall short of industry standards.
- Facilitate dialog between insurer and client, building a stronger bond and positioning you as the client’s “risk management partner”.
- Promote ongoing attention to cybersecurity, as clients know they will need to complete the assessment again when the policy comes up for renewal.
It’s a Win-Win
QuietAudit ULC makes it easy for you to communicate with applicants and clients, score their data security and privacy practices and manage your program from a simple online dashboard. Faster, simpler and more productive loss control—for both you and your clients!
- Date: 30 March 2016