SAN FRANCISCO – (BUSINESS WIRE) – Sep 29, 2021–
At-Bay, the insurance company for the digital age, today announced a collaboration with Microsoft to strengthen the cybersecurity posture of its customers as attacks escalate. To encourage enhanced security for SMBs, customers can now save up to 15% on their At-Bay cyber insurance premium by using Microsoft 365’s integrated security controls and comprehensive security services, while managing cyber security. -risks with the free active risk of At-Bay. surveillance.
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By working together, At-Bay and Microsoft are raising the bar for security among their customers. SMEs are most often targeted by opportunistic hackers exploiting common vulnerabilities; SMEs rarely face complex attacks from sophisticated adversaries. Many of these simple attacks can be mitigated by implementing a few high-priority security controls available directly in Microsoft 365. A cyber insurance policy is a great mechanism to both educate and entice customers to implement key controls.
At-Bay actively monitors the security of the network of each company it provides, at no additional cost, throughout the life of the policy. If a new cyber vulnerability is identified, At-Bay’s security team notifies the insured and provides actionable recommendations to quickly mitigate the risk. A combination of technical underwriting and active risk monitoring helps At-Bay-insured businesses meet ransomware requests seven times less frequently than the industry average.
âAn insurance policy is an effective tool for articulating the impact of cybersecurity choices on a company’s financial risk. By offering better prices to companies that implement tighter controls, we help them understand what matters to security and how best to reduce risk, âsaid Rotem Iram, co-founder and CEO of At-Bay. âWorking with Microsoft allows us to educate customers about the powerful security controls that exist in Microsoft 365 and to reward them for adopting those controls. “
âBeing at the forefront of technology and innovation for over four decades, Microsoft has seen cybersecurity grow from a highly specialized and niche topic to a daily concern for all businesses in America,â said Ann Johnson , Vice President of Security, Compliance. & Identity (SCI) Business development. âAs an innovator in its own industry, At-Bay is in a unique position to help Microsoft make meaningful change in consumer behavior and help more businesses stay safe. “
Businesses using Microsoft 365 are eligible for savings on their At-Bay cyber insurance policy premium if they implement certain security controls and solutions, including Multi-Factor Authentication and Microsoft Defender for Office 365 Microsoft 365 Business Premium comes standard with both controls in place. of the box. In addition to these security checks, premium savings are subject to the claim history and individual risk profile of each company. For more details on the partnership and a full list of security controls, visit at-bay.com/microsoft.
At-Bay and Microsoft recognize that modern businesses need holistic strategies that address both cybersecurity threats and business risks. The two companies are actively working together to identify additional ways to improve their customers’ digital risk exposure, ranging from data sharing to new products and offerings. Microsoft’s venture capital fund M12 has been an investor in At-Bay since the company’s Series B funding in February 2020.
At-Bay recently closed a $ 185 million Series D funding round and is now valued at $ 1.35 billion. In the second quarter of 2021, the company exceeded $ 160 million in annual recurring revenue with 800% year-over-year premium growth.
At-Bay is the insurance company of the digital age. By combining world-class technology with cutting-edge insurance expertise, we’ve built an insurance company from the ground up that enables businesses to thrive in the digital world. As Managing General Underwriter (MGU), At-Bay underwrites insurance policies through HSB Specialty Insurance Company, rated A ++ by AM Best Company and part of Munich Re. At-Bay is backed by Acrew Capital , Munich’s HSB fund Re Ventures, Icon Ventures, Khosla Ventures, Lightspeed Venture Partners, M12, Qumra Capital and entrepreneur Shlomo Kramer. www.at-bay.com
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KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SECURITY SERVICES TECHNOLOGY INSURANCE SOFTWARE
Copyright Business Wire 2021.
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Copyright Business Wire 2021.