Andy Thomas

Andy Thomas

Filhet-Allard selects KYND as a trusted cyber risk partner across Europe and France

Filhet-Allard, the leading independent French insurance brokerage, and KYND Limited, the leader in next-generation cyber risk management solutions, announced today their new partnership. This brings the power of KYND’s innovative technology to its exclusive 360° risk management solution tailored to the needs of businesses amid the growing threat landscape. The new partnership is geared towards enabling frictionless cyber insurance applications and renewals for Filhet-Allard’s extensive client portfolio through promoting insureds’ improved cyber resilience.

The announcement comes precisely when the increase of ransomware and supply chain attacks is reaching a new apex. The relentless threats have been affecting both public and private sectors for years, but the number of incidents have risen dramatically since the outbreak of the global pandemic; with Europe being subjected to 43% of global ransomware attacks, and the UK and France heading the list of the most targeted countries in the world by ransomware attackers. The number of supply chain incidents, in turn, quadrupled in 2021 compared with 2020. Considering the ongoing Russia-Ukraine geopolitical conflict, the amount of ransomware activity and supply chain attacks, particularly against critical infrastructures, is only expected to grow throughout this year.

Facing the prospect of major financial fallout from a single successful incident, businesses are increasingly looking for cyber coverage. But heightened underwriting scrutiny and increased premiums – both resulting from the sharp increase in claims from recent ransomware attacks – have created new barriers to addressing the largest growing risk through cyber insurance, for brokers and insureds alike.
In light of these latest developments, KYND and Filhet-Allard have risen to the challenge presented to enable businesses to obtain adequate insurance coverage at favourable terms and pricing, despite the market conditions. Under this new partnership, Filhet-Allards’ clients across France and the EU can now benefit from KYND’s immediate, unparalleled visibility into an organisation’s cyber exposure. Coupled with its tailored, prioritised remediation advice, it will allow existing and potential policyholders to take necessary steps towards risk mitigation to better prepare for future cyber insurance applications, plus to maintain a strengthened cyber posture ‘in-life’ of an insurance policy.

Andy Thomas, KYND’s CEO and Founder, said: “We are delighted Filhet-Allard has chosen KYND to join their enhanced 360° cyber risk management service; and we fully support their vision on a preventative approach to cyber threats through achieving cyber resilience. In the era of digital threats being at the top of each organisations’ agenda, the constantly growing threat landscape calls for a collaborative approach that brings together actionable threat intelligence and world-class industry experts to build effective and efficient solutions for businesses, which is exactly what this partnership is about. We’re looking forward to working together with Filhet-Allard towards this goal and growing our relationship even further in the future.”

Gregory Allard, Filhet-Allard’s CEO, commented: “We’re excited to offer KYND’s advanced risk management capability as part of our suite of industry-leading solutions that aligns with the current and future cyber needs of businesses globally. This partnership will supplement our ongoing efforts in reimagining risk management with an emphasis on resilience. Leveraging KYND’s real-time, interactive risk insights and helpful recommendations will enable brokers and their clients to move a step closer to securing relevant cover through improved risk posture, whilst further strengthening their threat prevention efforts.”

KYND streamlines Lombard Odier’s investment portfolio cyber risk management

Today, KYND Limited announced that Lombard Odier Investment Managers, a global wealth and asset manager, has adopted KYND Signals, KYND’s advanced portfolio risk management solution, which supports improved cyber due diligence processes within the investment lifecycle and provides enhanced risk-based investment decisions.

The cost of cybercrime globally is estimated to reach $6 trillion by the end of this year, and this figure is expected to hit $10.5 trillion by 2025, further escalating existing investor concern over cyber security within investment portfolios. Devastating ransomware and distributed denial-of-service (DDOS) attacks, high-impact data breaches, and far-reaching supply chain incidents can adversely impact a company’s financial performance, share value, brand reputation and trust amongst its shareholders, business partners and clients. Alongside increased regulatory requirements and expectations around security and data protection, the need for a proactive approach to cyber risk management has never been more critical for investment teams to ensure the financial stability and long-term business viability of their portfolio companies.

Lombard Odier has selected KYND to implement continuous risk monitoring and actionable threat intelligence as an integral component of their portfolio management. As part of this partnership, Lombard Odier’s investment teams will now benefit from access to KYND Signals. This trailblazing service transforms the way investment firms identify, manage and mitigate complex cyber risks across their assets by providing an advanced, targeted portfolio vulnerability insight, including expert cyber advisory support and prioritised remediation guidance to help investment firms and their portfolio companies stay ahead of the dynamic cyber threat landscape.

Andy Thomas, KYND’s CEO and Founder, said: “We’re delighted to be partnering with investment experts Lombard Odier and further extending our unparalleled cyber risk monitoring and management capabilities into the asset management field. The rapid advancement of today’s digital threats calls for a greater focus on cyber defence, yet it’s more arduous than ever for investment firms to stay current with the constantly expanding attack surface. Our brand-new partnership allows a proactive approach to addressing cyber risk within portfolio management, giving Lombard Odier’s team the ability to uncover and evaluate the risk in their portfolio.”

About KYND
KYND is on a mission to make complex cyber risks easy to understand and manage. KYND’s pioneering technology makes assessing, understanding, and managing cyber risks easier and quicker than ever before. Recognising one size doesn’t fit all, KYND has designed made-to-measure CyberTech products that work for any size business, from any industry, anywhere in the world.

KYND’s unparalleled cyber risk management tools not only enable better-informed investment decision making by providing instant insight into investments’ cyber risk profiles but also help reduce portfolios’ risk exposure with continuous threat monitoring and alerts.

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