PRIVACY RISK INSIGHTS PLATFORM
PRIVACY SETTLEMENTS SURGE BEYOND DATA BREACHES 3 YEARS RUNNING
The top 10 privacy settlements exceeded $1.3B in 2023, far surpassing data breach settlements as they also did in 2022, and privacy settlements in 2024 have already eclipsed the 2023 record.
To date, insurance carriers’ ability to underwrite their policyholders' privacy exposure has been limited at best.
CyRisk's privacy risk insights, utilizing cutting-edge AI tailored specifically for cyber insurance underwriting, offers both underwriters and policyholders privacy risk analysis along with detailed analysis of compliance gaps and remedies.
Understanding the Privacy and Data Protection Risk Landscape
Legislative and Regulatory Clampdown: A significant uptick in state privacy legislation and aggressive FTC enforcement actions, including substantial fines and settlements, directly lead to claims and losses.
Heightened Legal Risks: The increasing frequency and success rate of class action lawsuits under privacy laws have already eclipsed the 2023 record as of Q1 2024.
Privacy Liability Coverage
Cyber insurance policies have traditionally addressed data breaches, but the innovative tactics employed by the plaintiffs' bar have triggered coverage for privacy claims due to modern digital tracking technologies such as tracking pixels, biometric workforce management systems, geolocation and many others.
Technology and Privacy Mitigating Control Analysis
Thorough evaluations of Privacy Mitigating Controls, which include in-depth analyses of privacy policies, browser privacy signals, and consent managers that adhere to regulatory requirements.
Privacy Risk Assessment Made Accessible
Key Features and Benefits
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Innovative Risk Assessment
CyRisk Privacy Risk Insights Platform offers advanced evaluation of privacy risk exposures, particularly in the context of today's challenging digital landscape.
Identify collection of multiple sensitive data types, including biometric data, geolocation data that lead to heightened risk.
Comprehensive analysis of prospects’ use of web marketing and advertising technologies.
Focus not just on exposures, but on residual risk so you don’t need to slow down insurance transactions unnecessarily.
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Enhanced Underwriting Support
Save underwriters time with fast and thorough privacy risk analyses.
Seamless integration with underwriting workflows.
Intuitive reports for brokers and policyholders, enhancing the underwriting process with data-driven insights.
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Enhanced Underwriting Support
Save underwriters time with fast and thorough privacy risk analyses.
Seamless integration with underwriting workflows.
Intuitive reports for brokers and policyholders, enhancing the underwriting process with data-driven insights.
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Privacy and Cybersecurity Integration
Detailed assessment of over 1,000 privacy signals that have led to lawsuits, regulatory actions and privacy breaches including biometric data collection, tracking pixels, tracking APIs,, key loggers, and more.
Emphasis on the effectiveness of mitigating controls related to privacy technologies.
AI-based policy analysis identifying mitigating controls, transparency, disclosures and legal liability.
“I'm blown away by the depth of CyRisk's solution. Exceeded expectations”
Executive Vice President, Underwriter
WHY CHOOSE THE CYRISK PRIVACY RISK INSIGHTS PLATFORM?
Expertise in Cybersecurity and Compliance
Innovative and Proactive Approach
Utilizing advanced tools for real-time risk assessment and continuous monitoring.
Trusted Partner
Helping insurers maintain their position as trusted partners with differentiated and valueadding offerings.