KYND Limited, a leading provider of next-generation cyber risk management technology, has announced its partnership with MDS, a Portugal-based Lloyd’s broker with a global reach in the specialised insurance market. This collaboration aims to enhance client retention, bolster the cyber resilience of portfolio organisations, and facilitate the implementation of proactive cyber risk management in the face of a rapidly changing digital landscape.
Both MDS and KYND share a common mission of increasing awareness and visibility of cyber risks. A 2022 survey of CIOs worldwide revealed that 66% of respondents planned to increase investments in cybersecurity. MDS’s focus on enhancing the visibility of cyber insurance demonstrates their foresight in recognising cyber threats as one of the most significant challenges faced by businesses. According to a 2023 report, over 500,000 new forms of malware are detected every day. To stay ahead of this evolving cyber threat landscape, organisations must proactively address cyber risks that could potentially disrupt their business operations if exploited.
The partnership between KYND and MDS aims to tackle this challenge while solidifying MDS’s role as a trusted advisor throughout the lifecycle of an insurance policy. KYND’s powerful cyber risk management technology and expert advisory services will complement MDS’s offerings. MDS’s broking specialists will leverage KYND’s cutting-edge START reports, which provide instant and non-intrusive vulnerability assessments, to gain a snapshot of an organisation’s risk posture. These reports will enable MDS to offer customised and prioritised remediation advice to help clients address the most critical cyber vulnerabilities before submitting insurance applications. By reducing claims and enhancing overall cyber resilience, this approach will provide added value to MDS’s book of business.
Commenting on the partnership, Andy Thomas, CEO and Founder of KYND, said, “We’re thrilled to support MDS in their efforts to raise awareness about the necessity of cyber insurance. As the cyber threat landscape continues to grow and evolve, we are honored to partner with a company that strives to establish trends rather than simply react to them. MDS values proactive cyber risk management, which ultimately improves the cyber health of their clients. We look forward to this partnership elevating the visibility of digital threats and enhancing cyber resilience in an uncertain cyber environment.”
Pedro Pinhal, Technical and Claims Director of MDS Group, added, “At MDS, our primary goal is to serve as a trusted advisor to our customers. We have partnered with KYND because their actionable risk intelligence is designed to help organisations enhance their cyber defenses while accessing cyber insurance at the best terms and price. In an increasingly competitive environment, utilising KYND will assist us in selecting the right cyber risks to take on, enabling us to win more clients, drive client retention, and enhance our insurance offering to empower our clients.”
Through this collaboration, MDS and KYND aim to raise awareness, improve cyber resilience, and provide valuable risk management solutions in an ever-evolving cyber landscape.
