Intangic MGA, a data science-driven London-based Managing General Agent (MGA), has announced the launch of the Intangic CyFi™ Dashboard, an early warning tool to provide companies with data-backed predictions for cyber breaches and offer pre-breach insurance.
Intangic states that the new dashboard observes cyber attacks targeting companies at an “unparalleled scale”, enabling the client to see elevated risk levels within their network “earlier than anyone else” and mitigate the risk before it becomes a serious breach.
The firm suggests that it developed the CyFi™ Dashboard to give companies an answer to the question, “How many attacks have not been blocked?”
It has already correctly predicted 81% of large cyber breaches involving public companies, on average 19 months prior to the announcement of the breach, according to Intangic.
“By utilising this dashboard, companies can calculate their breach and financial loss probability based on how well they block attacks relative to their peers,” notes the firm.
Ryan Dodd, Founder and Chief Executive Officer of Intangic, commented, “Within the insurance market, cyber is typically modelled as a low frequency, high severity event. But we know cyber attacks can be analyzed as a high-frequency risk.
“Through our new proven early warning capability, we are able to offer companies a next-generation risk management program.”
Dodd continued, “We have collected data from 200,000 companies for over five years, and we have found that companies that are the worst at blocking attacks are more likely to experience sustained financial underperformance versus peers who are better at blocking cyber threats early.
“Tackling cyber risk with a preventative approach is a new way to look at the problem, and that’s what we’re doing at Intangic MGA.”
Intangic MGA launched in March 2023 with backing from AXA XL, and provides publicly-listed corporations in the UK and the US with the capacity for up to $15 million.
