CrowdStrike Falcon for Insurability Fast Tracks Companies for Cyber Insurance Eligibility

June 05, 2024 at 08:00 AM EDT

New program allows insurance carriers to provide companies with the best-in-class protection of the Falcon platform at preferred rates

CrowdStrike (Nasdaq: CRWD) today unveiled Falcon for Insurability, a new program allowing cyber insurers to provide organizations with industry-leading cyber protection from the AI-native CrowdStrike Falcon® cybersecurity platform at preferred rates. With Falcon for Insurability, insurers including Ascot Group, AXA XL, Beazley Insurance, Berkley Cyber Risk Solutions, Coalition and Resilience reduce underwriting risk knowing that insured organizations have best-in-class cyber protection from the Falcon platform to improve cyber resilience and stop breaches.

The persistence and sophistication of cyberattacks continue to create cyber risk underwriting challenges: more organizations are having to decide between paying higher premiums, receiving reduced coverage, and rationalizing their cybersecurity spend. Carriers are requiring companies to have advanced cyber defenses to qualify for policies, excluding many from obtaining coverage. Falcon for Insurability allows carriers to provide the world’s most advanced AI-powered protection at preferred rates. With the Falcon platform, organizations can detect 96% more threats in half the time compared to other vendors, and conduct investigations 66% faster — significantly improving their ability to stop breaches. This reduces cyber risk for companies and underwriting risk for carriers, allowing more businesses to obtain coverage while increasing their cyberdefenses.

“As cybersecurity’s leader, CrowdStrike understands the nuances of cyber insurance, and we have a team dedicated to working with the cyber insurance community. Our AI-native cybersecurity platform is increasingly important not only to the security of the organization, but also its insurability,” said Daniel Bernard, Chief Business Officer, CrowdStrike. “Falcon for Insurability empowers boards of directors and cyber leaders to take a more active role overseeing and comprehensively addressing a risk to resilience journey.”

Supporting Quotes

"In today’s threat landscape, Falcon for Insurability is a mutually beneficial solution for organizations everywhere. Access to cybersecurity resources and tools like this boosts our clients’ cyber confidence and our own in extending cyber insurance coverage,” said Anthony Dagostino, Global Chief Cyber Underwriting Officer, Commercial Lines, AXA. “This program reduces the chance that companies will experience an impactful breach that could threaten their reputation and profitability.”

“Beazley’s Full Spectrum Cyber offering ensures our clients can pre-empt, respond and adapt to emerging cyber threats every day. Deploying CrowdStrike Falcon alongside our solution will deliver powerful new resources to the ongoing battle against cyber criminals and further strengthen our clients’ cyber resilience,” said Paul Bantick, Global Head of Cyber Risks, Beazley Insurance.

“We are excited to continue our partnership with CrowdStrike to offer our policyholders access to its expanded portfolio of security solutions. Policyholders now have a variety of options, ranging from very affordable endpoint protection for small businesses to a customizable and solution-specific product for larger organizations,” said Steve Krusko, Chief Underwriting Officer, Berkley Cyber Risk Solutions. “All Berkley Cyber Risk Solutions’ policyholders can access tools to mitigate today’s most relevant threats to their IT systems.”

“Every day, businesses are bombarded with new and fast-evolving digital risks,” said John Roberts, General Manager, Security, Coalition. “Solutions like CrowdStrike’s Falcon platform give Coalition’s policyholders the ability to actively reduce their cyber risks, help prevent impactful breaches, and improve overall cyber insurance outcomes.”

“We are excited to build upon our long-standing partnership with CrowdStrike through the Falcon for Insurability program. The combination of CrowdStrike’s leading protection with Resilience’s unique approach to quantifying and managing cyber risk holistically helps us better understand an organization’s security posture and protect our joint clients,” said Timothy Riley, SVP Products, Resilience.

For more information, please see the CrowdStrike website here.

About CrowdStrike

CrowdStrike (Nasdaq: CRWD), a global cybersecurity leader, has redefined modern security with the world’s most advanced cloud-native platform for protecting critical areas of enterprise risk – endpoints and cloud workloads, identity and data.

Powered by the CrowdStrike Security Cloud and world-class AI, the CrowdStrike Falcon® platform leverages real-time indicators of attack, threat intelligence, evolving adversary tradecraft and enriched telemetry from across the enterprise to deliver hyper-accurate detections, automated protection and remediation, elite threat hunting and prioritized observability of vulnerabilities.

Purpose-built in the cloud with a single lightweight-agent architecture, the Falcon platform delivers rapid and scalable deployment, superior protection and performance, reduced complexity and immediate time-to-value.

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