Page 202 - Cyber Defense eMagazine July 2024

Dan: Tell me about a customer who implemented your solution and what metrics show they are
happy with the solution.

Customer A:

Small business in the medical space was in the market to add a cyber insurance policy to further bolster
their security posture. They solicited quotes from a variety of carriers and chose not to purchase due to
the cost of premiums. Six months after the quotes, they learned about RiskAware and decided to deploy
it on their devices. Equipped with new information about their environment and the old quotes, they
reengaged the carriers and selected and purchased a policy with the same coverage for 39% lower
premium! The carriers factored the new information they had, and saw that the customer reduced their
information footprint (before/after) since deploying RiskAware.

Customer B:

One of RiskAware's major success stories involves an insurance carrier with thousands of agents. This
carrier faced significant challenges due to the diverse levels of IT sophistication among its non-exclusive
agents, who also sell other types of insurance. This variation in IT capabilities led to frequent breaches,
approximately one per month, causing considerable concern for the carrier regarding its brand reputation
and the security of its sensitive information.

Before implementing RiskAware, the carrier needed help determining how much of its sensitive data was
exposed in environments beyond its control. It also needed a robust system to monitor and manage these
risks effectively. Our solution provided them with the required comprehensive oversight, significantly
enhancing the organization's ability to track and protect its data across all agents and brokers.

The results have been outstanding. With our tool in place, the carrier has seen a dramatic reduction in
the amount of sensitive information carried among their brokers. They now have real-time insights into
the security status of their sensitive information, which has helped mitigate the risk of exposure and
strengthen their overall cybersecurity posture. This newfound visibility has protected their brand
reputation and provided peace of mind, knowing that their data is secure. The carrier's satisfaction is
evident in their continued use of our solution and the positive feedback we receive.

Additional Background Info

Where we are currently:

Our company recently emerged from stealth mode after a few years of intensive research, development,
and beta testing. Our solution is now installed on several thousand machines. We successfully completed
a seven-figure paid pilot with a large carrier network, assisting them in determining the appropriate
amount of cyber insurance to mandate for their brokers and agents. Additionally, we are an endorsed
and advertised member benefit for more than 30,000 members of a prominent Michigan-based
professional organization.
We are actively engaged in discussions with various insurance and reinsurance companies to integrate
our tool with existing cyber policies and to develop innovative new cyber insurance products, similar to a

Cyber Defense eMagazine – July 2024 Edition 202
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