NetDiligence Announces Alliance with Spektrum Labs to Bring Unified Readiness and Response to the Cyber Insurance Ecosystem
PHILADELPHIA, Tuesday, May 30, 2023 –NetDiligence®, the pioneer in uniting the cyber insurance ecosystem and the creator of the eRiskHub® portal, has announced a strategic alliance with Spektrum Labs™ to unlock incident readiness, resilience, and response data across the cyber insurance ecosystem.
Mark Greisiger, President of NetDiligence says “Across our cyber insurance partners, the message is clear: a leading challenge in cyber insurance today is collection, sharing and use of posture, threat, and loss data. We selected Spektrum Labs as they have built an innovative platform to unlock incident readiness, resilience, and response data in a way it can be used across the wide cyber insurance ecosystem.”
At launch, over 150 cyber insurance carriers and brokers representing 70,000 eRiskHub users will be offered a Spektrum Passport™ through NetDiligence, bringing next-generation cyber insurance technology to thousands of insured organizations. The Spektrum Passport™ is a digital token representing the data needed for underwriting such as cyber security posture and cyber incident data.
Key aspects of the strategic alliance include:
- Enhanced Insurance Readiness: NetDiligence’s eRiskHub platform, widely used by brokers and cyber insurers, may be upgraded to utilize Spektrum Labs’ technology to enable frictionless cyber underwriting for insureds, brokers, and insurers.
- Expedited Incident Response Collaboration: By enabling Spektrum Response™, NetDiligence facilitates seamless communication and collaboration between the insured and their breach team, automating data collection through natural workflow. This data will then be accessible to claims teams post-incident for data science and for simplifying the renewal process.
- Optimized Cyber Claim Data Exchange: The alliance will enable NetDiligence to utilize Spektrum Labs’ technology to bolster the loss data collected from insurers and brokers for NetDiligence’s annual Cyber Claims Study reports, unlocking real-time access to eRiskHub users who can view the Spektrum ThreatStream(tm) showing real-time cyber incident data. Unifying the data format, and sanitizing the data allows unprecedented knowledge transfer between ecosystem partners.
“We are excited to collaborate with Spektrum Labs and integrate their advanced technology with our eRiskHub solution,” said Mark Greisiger, President of NetDiligence. “After careful consideration of the needs of our cyber insurance Industry clients, we feel Spektrum is nicely positioned to form the foundation for the next phase of innovation in cyber insurance by solving some of the top challenges limiting the ecosystem today. We believe it is imperative that the insurance ecosystem evolve, and we are excited to bring this new technology to our partners and their insureds.”
Rob Driscoll, co-founder and CRO of Spektrum Labs, added “NetDiligence has always been a unifying force within the cyber insurance industry. By combining our innovative technology with NetDiligence’s trusted eRiskHub platform, we enable immediate accessibility to solutions that addresses the unique challenges of insurance readiness, incident response collaboration, and secure cyber incident data exchange. This combination builds upon the foundations forged when Mark brought this ecosystem together 15+ years ago. Today, NetDiligence is accelerating the next chapter of innovation and unification in cyber insurance.”
NetDiligence® specializes in cyber risk readiness and response services. With more than 20 years of experience in cyber, NetDiligence is an award-winning provider of cyber risk management software and services to the insurance industry, including QuietAudit® cyber risk assessments, the eRiskHub® cyber risk management portal, and Breach Plan Connect® (with companion mobile app) to help policyholders with data breach response planning. NetDiligence publishes an annual Cyber Claims Study and hosts annual Cyber Risk Summits in Philadelphia, Santa Monica, Toronto, London, and Bermuda. In 2020, NetDiligence introduced robust virtual programming to augment its on-premise Cyber Risk Summit events.
About Spektrum Labs
Spektrum Labs™ builds software at the intersection of cyber security and cyber insurance. Spektrum™ is the platform of record for capturing, exchanging, and utilizing cyber posture, threat, and incident data, unlocking AI and blockchain use cases through tokenization of the cyber security and insurance stack. Spektrum Labs™, Spektrum Network™, Spektrum Response™, and Spektrum Passport™ are all trademarks of AS0001, Inc, dba Spektrum Labs. Find out more at spektrum.ai