At-Bay, the cyber insurance provider, has launched a new Managed Detection and Response (MDR) solution, At-Bay Stance MDR, designed to help emerging and mid-sized businesses advance their security defenses and threat preparedness, in view of the rapid rise of cyber crime rates.
By analyzing its claims data from the past two years, At-Bay revealed that it estimates that more than 50% of its customers’ cyber insurance claims could have been mitigated with an effective MDR solution.
According to the firm, MDR solutions have become a “must-have” for companies of all sizes; but, getting affordable access to such solutions has been a major challenge for small-to-medium sized businesses.
Through their new MDR solution, At-Bay will be able to provide customers with an enterprise-grade software solution that can monitor their endpoints, which will then be managed and monitored by At-Bay’s in-house security experts.
In doing so, the company is helping to address the critical technology, skills, and resource access gap preventing its customers, and most businesses across the United States, from becoming more secure.
In addition, the cyber insurance provider’s MDR offering combines technology with human analysis to detect and respond to cyber threats before they escalate. Alongside the rest of At-Bay’s Stance portfolio, At-Bay Security’s newest security solution extends its security capabilities to include managed endpoint protection.
Some of the key highlights include, a proactive threat detection which combines advanced endpoint detection and response (EDR) technology with expert human analysis to proactively detect and respond to cyber threats before they escalate, all managed by At-Bay in-house.
At the same time, At-Bay has confirmed that it’s MDR services are fully customizable in order to meet the specific needs and risk profiles of their clients.
At-Bay Stance Managed Detection and Response (MDR) will be available as an optional service starting in January 2024 from At-Bay’s security affiliate.
Rotem Iram, CEO and Co-Founder of At-Bay and security veteran, commented: “We know this new security solution will have a meaningful impact on the businesses in our portfolio. Security for small businesses is broken. A critical technology, skills, and resources gap exists that many companies can’t overcome. Our new MDR solution was built to change that. At-Bay Stance MDR will help to improve the cyber resilience and readiness of any business who uses it.”
Thom Dekens, Chief Business Officer and GM of At-Bay Security, said: “We are uniquely positioned to understand and address the biggest security gaps within the small-to-mid market business community. As a provider of both insurance and cybersecurity products, we have unprecedented insight into where security technologies and controls are excelling, and failing, and we are incentivized to help businesses fix these gaps quickly. That’s why we are launching an MDR solution today.”