KYND Limited, a provider of next-generation cyber risk management technology, today announced that it has joined forces with MDS, a Portugal based Lloyd’s broker with a reach extending into the world’s largest specialised insurance market. MDS partners with KYND to drive client retention, boost the cyber resilience of their portfolio organisations and help their clients by offering new and effective processes to facilitate the implementation of proactive cyber risk management in the face of the dynamically changing digital landscape.
MDS and KYND share a common mission of increasing awareness and visibility of cyber risks. A 2022 survey of CIOs globally showed that 66% of respondents said they planned to increase investment in cybersecurity, and MDS’s pursuit of enhancing visibility of cyber insurance demonstrates foresight of this growing industry awareness that cyber is one of the biggest threats businesses face.
A 2023 report showed that over 500,000 new forms of malware are detected every day; in order to stay ahead of this ever-evolving cyber threat landscape, organisations must be proactive about tackling the cyber risks that could have a devastating impact on their business operations if exploited.
This new partnership between KYND and MDS is designed to address this challenge, and solidify MDS’s role as a trusted advisor to their clients throughout the lifecycle of an insurance policy. This is complemented by KYND’s powerful cyber risk management technology and expert advisory services. KYND’s cutting edge START reports, the company’s signature vulnerability assessment technology, will equip MDS’s broking specialists with an instant and non-intrusive snapshot of an organisation’s risk posture.
MDS will be able to utilise these reports to provide bespoke and prioritised remediation advice to help their clients address the most pressing cyber vulnerabilities that face their business pre-submission, which will serve to not only reduce claims but improve the overall cyber resilience of their book of business.
Andy Thomas, CEO and Founder of KYND, said of the new partnership:
“We’re delighted to support MDS as they seek to continually reach new heights in their pursuit of raising awareness of the necessity of cyber insurance. As the cyber threat landscape grows and evolves, it’s an honour to partner with a company that seeks to establish trends rather than respond to them, and which values proactive cyber risk management that betters the cyber health of their clients. We’re looking forward to this partnership pushing visibility of digital threats and boosting cyber resilience in an uncertain cyber environment.”