Independent specialist re/insurance broker BMS Group has partnered with BitSight, a cyber security ratings firm, to provide cyber risk analysis services to clients across all lines of business as part of its consultancy offering.
BitSight’s security ratings platform provides comprehensive security performance information available in the marketplace and marks the first partnership between the two companies.
“As an independent, employee-owned broker, our focus has always been to add value to our insureds by developing a tailored and comprehensive offering,” said Ryan Jones, Head of Innovation at BMS.
“With that in mind, we tasked our teams and our internal Innovation Lab with developing initiatives to improve our clients’ understanding of risk and therefore provide better coverage for their needs.
“The expansion of our analytical capabilities was a key takeaway from our innovation programme, so I am very pleased to announce this partnership today.”
Through this new service, BMS clients will be able to, regardless of what they are insuring, accurately assess the cyber exposure of their assets and choose insurance providers accordingly.
Samit Shah, BitSight’s manager of insurance strategy and operations, added, ”We are excited to partner with BMS to provide valuable cyber risk insights to their clients.”
“Working with carriers around the world, including several in London for a number of years now, we believe providing transparency into security posture along all parts of the insurance value chain – carrier, broker, and client – is critical to accurate risk transfer decision-making.”
