RISK MANAGEMENT
Surefire Cyber | June 01, 2022
Surefire Cyber, a new incident response company, debuted today to assist cyber insurers, brokers, legal firms, and the enterprises they support in better managing cyber events like ransomware, email hacking, and other cybercrimes. The firm received a $10 million Series A round of funding from Forgepoint Capital.
Surefire Cyber's goal is to work with our clients and partners to swiftly manage a cyber incident and then bring forward capabilities to help them become more cyber resilient. Our delivery of end-to-end digital forensics and incident response capabilities is built on a tech-enabled framework and delivered through a platform that aligns and connects an organization's executives, technical team, insurance carrier, and legal counsel."
Billy Gouveia, the CEO and Founder of Surefire Cyber.
Surefire Cyber is committed to being great partners to carriers, brokers, Breach Coaches®, and the clients they work together to support. We are pleased to welcome them as new contributors to the cyber insurance ecosystem who offer deep experience and a valuable perspective."
Mark Greisiger, President and Founder of NetDiligence®.
Based on two long-term trends: the rising cost of cyber incidents and the growing adoption of cyber insurance, industry veterans found Surefire Cyber as a purpose-built response firm that leverages a proven team and a tech-enabled platform to improve transparency, improve decision making, minimize business interruption, and guide organizations from recovery to long-term resilience.
Forgepoint Capital, the world's most active early-stage cybersecurity venture capital firm, is backing Surefire Cyber. Before he started Surefire Cyber, Gouveia worked as an Entrepreneur-in-Residence at Forgepoint. There, he helped develop the company's strategy, business model, technology, and team, as well as build important partnerships with companies across the firm's portfolio.
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INSURANCE TECHNOLOGY
Trust Insurance Cyprus, eBaoTech | February 09, 2021
eBaoTech Corporation (eBaoTech), declared that Trust Insurance Cyprus, an auxiliary of Trust Holding, effectively dispatched, on January 17, 2021, eBaoCloud® DigitalCoreTM (DigitalCore) underway for start to finish life cycle tasks of its general insurance business, supplanting an inheritance framework that has been being used for quite a long time. Since its dispatch, the new stage has been working easily with solid client fulfillment and activity effectiveness help.
Settled in Cyprus, Trust Holding, a completely claimed element of Nest Investments Holding, is a main territorial insurance bunch with business in excess of 7 nations across Middle East, North Africa and in Cyprus. Trust Holding chosen DigitalCoreTM for framework modernization, to expand its business readiness, availability/advancement abilities and activity effectiveness in the computerized age. eBaoCloud® DigitalCoreTM is intended for advanced insurance with solid network and API directions. Its fruitful dispatch gives a solid stage to Trust Insurance Cyprus to quicken its advanced change.
Marwan Bataineh, Group Chief Technology & Information Officer of Nest Investment Holding commented, "We are so excited that the new digital platform went live during these exceptionally circumstances and challenges we are facing from the COVID-19 pandemic. The teams from Trust in Cyprus and Jordan, and eBaoTech in Shanghai and Wuxi had to collaborate and work remotely through the whole year with a 6 hour time difference. I am so glad that with the strong support from our Board of Directors, our management team and the dedication and professionalism of the joint teams, we successfully launched the new digital platform as a backbone to enable our innovations and growth. We look forward to the implementation of DigitalCore to all insurance subsidiary companies of Trust Holding Group".
Christos Christodoulou, CEO of Trust Cyprus added, "We want to express our great appreciation and respect to eBaoTech's team for their professional and methodical approach to make this project a success. Their commitment and dedication was remarkable and beyond our expectations. With the new policy admin platform in place, we are now able to offer a better service to our Agents and Customers. We now have much stronger connectivity capabilities to increase our services and user experience to our agents and policy holders. We feel that with a strong technology partner such as eBaoTech we will maintain and increase our leading position in the new technological era."
Kamel Abunahl, CEO of Trust Holding highlighted, "This is a big success for both organizations and a great team work. We are glad of our decision to choose eBaoTech as our long-term partner for the transformation of our Group Insurance companies into the new digital era. Today, by using eBaoTech's DigitalCore, we have one more tool to enable the Group Companies to advance further faster with better controls. This is the first step of a long journey and future cooperation with eBao".
About Trust Insurance Cyprus
Trust Insurance Cyprus provides optimum insurance services on an international level for over a decade.
Since August 2009, it has extended its dynamic presence in the Cyprus Market with a capital in excess of € 8.000.000, residing in the top tier of the industry. The company's successful growth is a motivation for significant future movements in creating innovative ideas as to become one of the leading insurance companies within the Insurance Industry.
About Trust Holding
Trust Holding was founded in 2007. It has set its vision to focus on growing its role and relationship with its subsidiaries to being an active support hub helping respecting operations to enhance their economic value in their respective markets on local and global views. Trust Holding have presence in the MENA region, North Africa and Europe such as Algeria, Palestine, Lebanon, Yemen, Iraq and Cyprus.
About eBaoTech
eBaoTech® is a technology solution provider for global insurance industry. Our mission from start is to "make insurance easy". We have business in more than 30 countries across all continents, serving numerous insurers, agents, brokers, InsurTech startups and others in the insurance ecosystem. eBaoTech offers two groups of solutions: eBao® Cloud including SaaS and PaaS solutions and eBao® Software for traditional insurance carriers' core systems.
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CORE INSURANCE
Sapiens, Clear Blue Insurance Group | April 29, 2021
Sapiens Americas, a completely possessed auxiliary of Sapiens International Corporation, a main worldwide supplier of programming answers for the insurance business, today reported a consent to convey Sapiens ReinsurancePro by the Clear Blue Insurance Group, a property and loss endeavor that gives business and individual insurance programs in organization with general offices and reinsurers.
As a program expert organization that gives reinsurance markets admittance to essential US property and loss business, Clear Blue has many surrendered reinsurance contracts. To help meet the one-of-a-kind requirements and hazard hunger of their reinsurance accomplices, Clear Blue has an enormous assortment of agreement arrangements and equal reinsurance programs. Clear Blue is carrying out ReinsurancePro to help deal with the expanding volume and intricacy of its surrendered reinsurance technique.
"Sapiens' answer hangs out in the business for its demonstrated capacity to improve productivity while extending our abilities to oversee for complex designs and absolute limit," said Peter Klope, Clear Blue COO. "This will empower Clear Blue to more readily serve our accomplices. ReinsurancePro's solid computerization and profoundly straightforward, the proficient stage will give auditable preparing, oversee complex reinsurance exchanges and rapidly react to new reinsurance contributions."
Made and planned only for the reinsurance market by a portion of the business' driving specialists, Sapiens ReinsurancePro deals with the whole scope of reinsurance agreements and exercises for all lines of business. Underlying robotization of agreements, estimations, and cycles gives adaptable and full monetary control of the reinsurance measures, including reviewing necessities and legal consistency. Over 100, safety net providers overall utilize Sapiens' reinsurance arrangements.
The choice to pick a cloud-based reinsurance framework was incited by two viewpoints:
1) openness of stage 24*7 from any spot, and 2) the requirement for extra IT assets now accessible as a feature of Sapiens oversaw administrations bundle.
Sapiens' wide scope of oversaw administrations permits safety net providers to zero in on the fundamental business while utilizing the expert help of a group with personal information and aptitude.
"Clear Blue was looking for a straightforward, smoothed out reinsurance organization stage with a limit with regards to following approach and claims exchanges, that robotizes complex bookkeeping assignments and is truly adaptable enough to change with new terms and conditions," said Roni Al-Dor, Sapiens president and CEO. "Sapiens incredible ReinsurancePro arrangement, our utilization of the Microsoft Azure stage, and the receptiveness of the information base tables were solid main considerations for Clear Blue. We are extremely satisfied to engage Clear Blue as they continued looking for full monetary control of the reinsurance measures and to empower them to address the issues of their reinsurance accomplices."
About Sapiens
Sapiens International Corporation enables backup plans to prevail in a developing industry. Sapiens offers advanced programming stages, arrangements, and administrations for the property and loss, life, benefits and annuity, reinsurance, monetary and consistency, laborers' remuneration, and monetary business sectors. With over 35 years of involvement conveying to more than 600 associations internationally, Sapiens has a demonstrated capacity to fulfill clients' center frameworks, information, and advanced necessities.
About Clear Blue Insurance Group
The Clear Blue Insurance Group is a property and loss insurance bunch furnishing insurance programs cross country in association with MGAs/program managers and reinsurers across the world. Clear Blue represents considerable authority in a wide assortment of business and individual line inclusions through its conceded lines and E&S transporters. The Clear Blue gathering comprises four P&C insurance organizations bunch appraised A - (Excellent) by A.M. Best: Clear Blue Insurance Company, Clear Blue Specialty Insurance Company, Highlander Specialty Insurance Company, and Rock Ridge Insurance Company.
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