INSUBCONTINENT EXCLUSIVE:
Critical cyber attacks on both businesses and individuals have been grabbing headlines at an alarming rate
Cybersecurity has moved from a background risk for enterprises to a critical day-to-day threat to business operations, forcing executive
teams to pour time and hundreds of billions in capital into monitoring and prevention efforts.Yet even as investment in security ticks up,
the frequency and cost of cybercrime to businesses continues to rapidly accelerate, with the World Economic Forum estimating the economic
loss due to cybercrime could reach $3 trillion by 2020.More companies are now turning to cyber insurance as a means of mitigating financial
However, for traditional insurers, cybersecurity remains a relatively nascent and unfamiliar issue, requiring risk-assessment data points
and methodologies largely different from those seen in traditional insurance products
As a result, businesses often struggle to get the scale of cybersecurity coverage they require.Arceo.ai is hoping to expand the size and
scope of the cyber insurance market for both insurers and companies, by providing insurers with effective real-time data, analytics and
context, necessary for safely and efficiently underwrite cyber risk.This morning, Arceo took a major step in achieving that goal, announcing
By automating the data collection process and connecting it with insurer underwriting processes, Arceo is able to keep its data and policy
Using patented data science and cyber risk models, Arceo generates analytics-driven insights for insurance carriers, brokers and end-insured
recommendations and industry benchmarking to help contextualize day-to-day cyber behavior and hygiene
For underwriters, Arceo can provide specific insurance recommendations based on particular policy coverages.Ultimately, Arceo looks to
provide both insurers and the insured with actionable answers to key questions such as how one assesses cyber risk, how one determines what
risks can be mitigated with technology alone, how one knows which systems are best and whether those systems are being used
appropriately.Arceo.ai Chairman Raj Shah
data systems, and deep pedigree in both the security and insurance truly differentiate Arceo from competing solutions
For starters, both Shah and Arceo co-founder and CEO Vishaal Hariprasad have spent close to the entirety of their careers in national
security and cybersecurity
in 2012, a security startup the two sold to Palo Alto networks in just roughly two years.After selling the company, Shah and Hariprasad
remained in the security world before realizing that there was a natural intersection between security and insurance, and a real opportunity
Additionally, earlier this month, the company announced that Mario Vitale, the former CEO of publically-traded insurance companies Willis
will be used towards expansion efforts and scaling Arceo to the broader ecosystem of insurance and brokers
Longer-term, the company hopes to offer the most complete combined cybersecurity and risk transfer solution to insurers and the insured,
discuss how founders and companies should think about potential US government investment
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