Galway, Ireland, and Providence, RI—May 9, 2017--CyberScout (formerly IDT911) announced today a partnership with the International Cooperative and Mutual Insurance Federation (ICMIF) to help grow and advance the mutual and cooperative insurance sector through greater understanding of cyber risk and how to address it. CyberScout has gained an international reputation as the best-in-class provider of identity and data defence services – from proactive protection and education, to crisis response and successful resolution.
Threats to cyber security have reached unprecedented levels worldwide. As an ICMIF Supporting Member, CyberScout will partner with the Federation and its members to address the rapidly growing risk to the policyholders of mutual and cooperative insurers from global cyber crime. Through the ICMIF network, CyberScout will inform members and help them gain a competitive advantage by developing programs that reduce policyholders’ risk from cyber crime.
Said Matt Cullina, CyberScout CEO, “Cyber crime is a rising threat that international insurers must address swiftly and confidently in order to maintain their trusted partnerships with customers. At CyberScout, we put our clients at the centre of our business, helping them improve their customer engagement, identify additional revenue streams and enhance their brands through the delivery of premier, award-winning cyber theft services and resolution. Through our partnership with ICMIF, we look forward to sharing our expertise, knowledge and best practices with member organizations whose values reflect our own.”
Shaun Tarbuck, ICMIF Chief Executive, said: “ICMIF has welcomed CyberScout into its membership in a bid to provide our 290+ members with the opportunity to achieve a better understanding of what cyber risk means to their member-policyholders, and help them provide tailored, effective solutions to them. CyberScout particularly stands out in its capability as an organisation with highly developed, unique cyber risk solutions as well as previous experience of working with mutuals. On behalf of our Board, I am delighted to welcome CyberScout to ICMIF. Our Supporting Members are valued contributors to the Federation, supplying advice and expertise with a specific mutual or cooperative focus.”
Mr. Cullina spoke at the recent ICMIF Intelligence Committee in Washington, DC, on April 19, 2017. He presented a strategic overview of trends and solutions in cyber insurance.
Global regulations that protect the privacy of consumer data are evolving and requiring businesses to protect consumers more than before. Recent measures in North America, Europe, Gulf and East Asian Nations demand strict measures by organisations that hold customer data, with substantial penalties for organisations that fail to comply. At the same time, a new generation of ingenious cyber crime has heightened risk for everyone. It’s important that insurers understand the changing global picture and address their policyholders’ needs for expertise and services around the world.
In a cyber world of dangerous, complex threats, CyberScout sets the highest standard for identity and data defence services. In annual customer surveys, CyberScout’s response team earns 99+% satisfaction ratings, year after year. Through more than 660 client partners, CyberScout provides prevention education, proactive protection services and swift and appropriate incident remediation for more than 17.5 million households and more than 770,000 businesses.
ICMIF holds nine years’ worth of exclusive data about the mutual sector and has its global headquarters in the United Kingdom with regional offices in Washington DC, USA; Tokyo, Japan and Brussels, Belgium. Today ICMIF represents over 290 values-based insurers in 75+ countries with over USD 300 billion in premium income and USD 2 trillion in total assets held. ICMIF delivers unique networking opportunities, market and member intelligence and external relations services. ICMIF takes a strong lead in encouraging best practice amongst its member firms in key insurance issues, including; performance management, legal and governance, marketing, brand and reputation, reinsurance and social and environmental performance. ICMIF is also active in the microinsurance and Takaful sectors
To learn more, visit www.icmif.org or follow ICMIF on Twitter at @ICMIF_Web
About the mutual and cooperative insurance sector
The mutual sector holds 27% of global insurance market share by premium. Premium growth of the mutual and cooperative insurance sector since 2007 is 22.1% vs 8.2% in industry. The sector’s assets of USD 8.1 trillion in 2014 have grown by 33% since 2007 and employment in the sector accounts for more than 1.1 million jobs. There are over 960 million people served as member/policyholders by mutual/cooperative insurers.
As the industry leader for over 13 years, CyberScout has been setting the gold standard for identity and data defence services – from proactive protection and education to successful resolution. Formerly IDT911, CyberScout combines boots-on-the-ground experience with high-touch personal service to help commercial clients and individuals minimize risk and maximize recovery. To learn more, visit www.cyberscout.com.