Fortinet, a provider of cybersecurity solutions, and Cyber Indemnity Solutions (CIS), an Australasian Insurtech company announced last week that they will collaborate to assess security postures of Australian and New Zealand organisations to better defend against an expanding attack surface, while offering Digital Asset Protection (DAP) and Cyber Insurance as a complete layer of threat mitigation. Fortinet and CIS also intend to expand this defence across the broader Asia Pacific region in the near future.
Under the agreement, Fortinet will provide CIS with its Security Fabric solutions such as FortiGate and FortiAnalyser to carry out assessments on CIS client’s networks. CIS’s membership association of cyber professional companies called ‘Crimson Risk’, which provides holistic cyber risk assessment, monitoring and consulting services, will extend Fortinet’s suite of solutions to Crimson Risk clients. These clients will then have the option to purchase the recommended remediation and mitigation tools including DAP and Cyber Insurance as a complete layer of protection against cyber threats.
Fortinet and CIS will cooperate to encourage cyber risk assessments in key sectors including financial services, healthcare and retail. They plan to raise the level of cyber risk education to business owners through workshops and industry seminars, and recruit channel partners to provide assessments and consultancy to a wider customer base.
“There are still many challenging coverage gaps in the cyber policies offered today. Our unique Digital Asset Protection policy fills one of these gaps by providing high indemnity, broad coverage in case an insured permanently loses their electronic data,” said Greg Hodgkiss, CIS CEO. “By collaborating with Fortinet and their powerful cyber Security Fabric solutions, CIS and Crimson Risk are making another major step towards creating cyber business products that truly address the needs of business, government and non-profit companies around the globe”.