CrowdStrike launches Falcon for Insurability to aid cyber insurers

CrowdStrike has recently launched Falcon for Insurability, a pioneering initiative designed to enable cyber insurers to offer organisations premium cyber protection at favourable rates through the CrowdStrike Falcon cybersecurity platform. The programme aims to expedite the eligibility process for cyber insurance by providing companies with advanced AI-native cyber defences. This development comes as the persistence and sophistication of cyberattacks continue to pose significant challenges for cyber risk underwriting.

Announced in Austin, Texas, Falcon for Insurability promises a substantial reduction in underwriting risks for insurers while enhancing the cyber resilience of their clients. Notable insurance providers such as Ascot Group, AXA XL, Beazley Insurance, Berkley Cyber Risk Solutions, Coalition, and Resilience are among those set to benefit from this initiative. By offering advanced AI-powered protection, insured organisations can anticipate a marked improvement in their ability to detect and respond to threats.

Cyber insurers are increasingly demanding advanced cyber defences from companies seeking coverage, which has led to higher premiums and reduced coverage options for many. Falcon for Insurability addresses this issue by delivering the world's most sophisticated protection at preferred rates. Utilising the Falcon platform, organisations can detect 96% more threats in half the time compared to other vendors, and perform investigations 66% faster, significantly enhancing their breach prevention capabilities.

As a leader in cybersecurity, CrowdStrike understands the complexities of cyber insurance, and we have a dedicated team working with the cyber insurance community, remarked Daniel Bernard, Chief Business Officer at CrowdStrike. Our AI-native cybersecurity platform is crucial not only for the security of an organisation but also its insurability. Falcon for Insurability empowers boards of directors and cyber leaders to play a more active role in overseeing and addressing a risk to resilience journey.

Anthony Dagostino, Global Chief Cyber Underwriting Officer at AXA, praised the new initiative, stating, In today's threat landscape, Falcon for Insurability is a mutually beneficial solution for organisations everywhere. Access to cybersecurity resources and tools like this boosts our clients' cyber confidence and ours in extending cyber insurance coverage. He highlighted that this programme reduces the likelihood of companies experiencing impactful breaches that could damage their reputation and profitability.

Paul Bantick, Global Head of Cyber Risks at Beazley Insurance, also expressed support, noting, 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.

Steve Krusko, Chief Underwriting Officer at Berkley Cyber Risk Solutions, added that the partnership with CrowdStrike offers policyholders a range of options from affordable endpoint protection for small businesses to highly customisable solutions for larger organisations. All Berkley Cyber Risk Solutions policyholders can access tools to mitigate today's most relevant threats to their IT systems, Krusko stated.

John Roberts, General Manager of Security at Coalition, emphasised the importance of reducing digital risks in today's environment. 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, he said.

Timothy Riley, SVP Products at Resilience, echoed these sentiments, highlighting the extended partnership with CrowdStrike through Falcon for Insurability. He said, The combination of CrowdStrike's leading protection with Resilience's unique approach to quantifying and managing cyber risk holistically helps us better understand an organisation's security posture and protect our joint clients.