KYND Limited, a leading provider of next-generation cyber risk management technology, has announced its partnership with MDS, a Portugal-based Lloyd’s broker with a global presence in the specialised insurance market. The collaboration aims to enhance client retention, boost the cyber resilience of portfolio organisations, and offer effective processes for implementing proactive cyber risk management in today’s rapidly evolving digital landscape.
MDS and KYND share a common goal of increasing awareness and visibility of cyber risks. A 2022 survey of CIOs worldwide revealed that 66% of respondents planned to increase investments in cybersecurity. MDS’s focus on enhancing the visibility of cyber insurance demonstrates its foresight regarding the growing industry awareness that cyber threats pose one of the biggest risks to businesses. A 2023 report further highlighted that over 500,000 new forms of malware are detected daily. To stay ahead of this ever-changing cyber threat landscape, organisations must proactively address the potential risks that could severely impact their business operations if exploited.
The partnership between KYND and MDS aims to tackle this challenge head-on and establish MDS as a trusted advisor to clients throughout the insurance policy lifecycle. KYND’s advanced cyber risk management technology and expert advisory services will play a vital role in this collaboration. KYND’s cutting-edge START reports, which provide vulnerability assessments, will equip MDS’s broking specialists with an instant and non-intrusive overview of an organisation’s risk posture. MDS can leverage these reports to offer tailored and prioritised remediation advice, helping clients address the most critical cyber vulnerabilities before submitting insurance applications. This approach will not only reduce claims but also improve the overall cyber resilience of MDS’s book of business.
Andy Thomas, CEO and Founder of KYND, expressed his excitement about the partnership, stating, “We’re thrilled to support MDS as they strive to raise awareness about the importance of cyber insurance. As the cyber threat landscape continues to grow and evolve, it’s an honor to partner with a company that aims to set trends rather than simply respond to them. MDS values proactive cyber risk management, which enhances the cyber health of their clients. We look forward to this partnership increasing visibility of digital threats and bolstering cyber resilience in an uncertain cyber environment.”
Pedro Pinhal, Technical and Claims Director of MDS Group, emphasised the importance of being a trusted advisor to customers and highlighted the value of the partnership with KYND. He stated, “At MDS, our primary focus is serving as a trusted advisor to our customers. We chose to partner with KYND because their core business revolves around actionable risk intelligence that helps organisations improve their cyber defenses while accessing cyber insurance at the best terms and price. In an increasingly competitive environment, utilising KYND will enable us to select the right cyber risks, win more clients, drive client retention, and enhance our insurance offerings to empower our clients.”
The collaboration between MDS and KYND is poised to drive the adoption of cyber insurance and proactive risk management, offering clients valuable tools to safeguard their businesses in today’s digital landscape.
