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Oceanwide's Cyber Risk Assessment Tool Now Available

Staff Writer | June 11, 2015

Oceanwide, an Insurity company, announces the availability of the company's new Cyber Risk Assessment Tool, which will help insurers identify and mitigate company-specific risks to data and privacy.

"With cyber risk on the rise and insurance data increasingly targeted, insurers obviously need to be able to assess the cyber vulnerabilities of clients," said Mark Orosz, CSO/CIO for Oceanwide. "Oceanwide's comprehensive Cyber Risk Assessment Tool can be easily integrated into an insurer's rating and policy issuance process to provide the insight needed."

The Oceanwide tool is a web-based solution that can be customized to accommodate country-specific regulatory standards and language requirements to make it easier for insurers improve cybersecurity posture in real-time. Leveraging Oceanwide Bridge, the company's insurance processing solution, insurers can assess any critical vulnerabilities and exposures to cyber attacks via a clear, comprehensive executive summary presented after the initial assessment.

"As new coverages such as cyber risk are introduced to the market, there need to be continuing ways for assessing the exposure presented," says Karen Furtado, partner for Strategy Meets Action (SMA). "A tool such as Oceanwide's Cyber Risk Assessment tool can present the insights needed to accurately assess the risk."

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