KYND Limited, a leading provider of next-generation cyber risk management technology, has announced its partnership with MDS, a Lloyd’s broker based in Portugal with a global presence in the specialised insurance market. The collaboration aims to enhance client retention, boost cyber resilience among portfolio organisations, and provide effective processes to facilitate proactive cyber risk management in the rapidly evolving digital landscape.
MDS and KYND share a common mission of increasing awareness and visibility of cyber risks. A global survey of CIOs in 2022 revealed that 66% of respondents planned to increase their investment in cybersecurity, and MDS’s focus on enhancing the visibility of cyber insurance reflects the industry’s growing awareness of cyber threats as a significant business risk. A report from 2023 indicated that over 500,000 new forms of malware are detected daily, highlighting the importance of proactive measures to address the ever-evolving cyber threat landscape.
This new partnership between KYND and MDS aims to tackle this challenge head-on and solidify MDS’s role as a trusted advisor throughout the insurance policy lifecycle. KYND’s powerful cyber risk management technology and expert advisory services, including their cutting-edge START reports, will provide MDS’s broking specialists with an instant and non-intrusive snapshot of an organisation’s risk posture. Utilising these reports, MDS can offer tailored and prioritised remediation advice to help clients address critical cyber vulnerabilities before submitting their insurance policies. This approach not only reduces claims but also enhances the overall cyber resilience of MDS’s portfolio.
Andy Thomas, CEO and Founder of KYND, expressed his enthusiasm for the partnership, stating, “We are thrilled to support MDS as they continue to raise awareness about the importance of cyber insurance. As the cyber threat landscape evolves, we are honored to partner with a company that sets trends rather than follows them, and values proactive cyber risk management to enhance the cyber health of their clients. We look forward to this collaboration increasing visibility of digital threats and boosting cyber resilience in an uncertain cyber environment.”
Pedro Pinhal, Technical and Claims Director of MDS Group, emphasised the importance of being a trusted advisor to customers and explained why MDS chose to partner with KYND. He said, “At MDS, our priority is to serve as a trusted advisor to our customers, and we have partnered with KYND because their business is built on actionable risk intelligence designed to help organisations improve their cyber defenses while accessing cyber insurance at the best terms and price. In an increasingly competitive environment, leveraging KYND will help us select the right cyber risks, win more clients, drive client retention, and enhance our insurance offering to empower our clients.”
This collaboration between MDS and KYND represents a significant step towards promoting the adoption of cyber insurance and proactive risk management, ensuring that businesses can navigate the evolving cyber landscape with confidence.