Businesses can now bundle and deploy cyber insurance and MFA within hours
OTTAWA, ON, July 6, 2022 /PRNewswire/ — Cyphercor, Inc. has announced today a new MFA offering dedicated exclusively to cyber insurance. LoginTC Assure is a quick-to-deploy MFA package that includes everything you need to meet today’s cyber insurance requirements and is backed by industry partners and expertise.
LoginTC Assure includes a full review of a client’s MFA-related insurance requirements, hands-on setup assistance with Cyphercor’s technical implementation team, a comprehensive check-in after three months, and a set amount of users depending on the package.
"It’s clear from our research into the industry, and conversations with our customers and partners over the past several months that there is a market need for a product like LoginTC Assure," said Jim Sourges, the new VP of Business Development at Cyphercor. "We’re excited to present something that we think fits that need, is scalable, and integrates with the needs of insurers as well."
In 2021, claims outpaced premiums for many cyber insurers, owing to continued spikes in ransomware costs that in many cases insurance companies were left holding the bag for. Many insurers experienced loss ratios anywhere from 70% — 100% on cyber lines. In response, many insurers began risk-selecting by introducing mandatory cybersecurity controls for policyholders — Multi-factor authentication (MFA) being chief among them.
"Our hope is that LoginTC Assure will be a tool for insurers to bring down loss ratios, write more cyber policies with less risk, and will see that we’re ready to be partners in our shared goal of making all organizations more cyber secure," continued Sourges.
As with Cyphercor’s standard offering, LoginTC Assure can be added to Remote Access servers, VPNs, Windows systems, email, cloud services, and more to provide an additional layer of security through multi-factor authentication. LoginTC’s innovative design means it can be set up in roughly an hour and is intuitive to use for administrators and end-users alike.
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