Industry-leading Cybersecurity Technologies and Services Power New Program to Help Brokers and Underwriters Gauge and Minimize Client Exposure to Cyber Risks
Milpitas, CA - Aug 6, 2014 – FireEye, Inc. (NASDAQ: FEYE), the leader in stopping today's advanced cyber attacks, today announced the Cyber Risk Evaluation and Threat Engagement (CREATE™) program, addressing insurance brokers’ and underwriters’ critical need to gain visibility into enterprises’ exposure to cyber threats. Lockton, Inc., the largest privately held, independent insurance broker in the world, will serve as the CREATE program’s inaugural partner.
The CREATE program uses the FireEye® Threat Prevention Platform technologies and services to help insurance brokers and underwriters assess organizations' cyber defense postures against today’s threats. In addition, CREATE will allow for insurers to quickly utilize the FireEye Threat Prevention Platform for breach assessments, managed services, and incident response services within their client engagements.
"Cyber insurance is a growing, essential corporate reality as advanced, targeted attacks and nation-state sponsored cyber attacks continue to increase," said Steve Pataky, VP of worldwide channels and alliances, FireEye. "With the introduction of CREATE, FireEye is proud to have our unparalleled expertise in mitigating cyber attacks and identifying gaps in traditional security architectures leveraged as a solution for the insurance industry. As our launch partner, it is exciting to see that Lockton has recognized the importance of utilizing technologies and services purpose-built for today’s threat landscape."
As cyber risk rises in prominence in boardrooms around the world, the global cyber insurance market continues to grow at a rapid rate. In addition, new cyber insurance solutions have been developed to address gaps in property and terrorism coverage in the event of a cyber-attack. These policies offer affirmative coverage for both Enterprise IT and Industrial Control Systems environments, covering physical damage as well as business interruption resulting from physical or non-physical damage.
To support the growing needs of the insurance industry, FireEye CREATE will offer brokers and underwriters:
Technologies and services purpose-built for today’s advanced threats that find gaps in enterprises’ security architectures and can quickly remediate them.
Policy placement assistance that enables underwriters to allow for differentiated risk and premium offerings for clients.
Post-breach services to evaluate and minimize impact should an insured client be breached.
Ongoing advanced security support for clients via FireEye Managed Defense, the FireEye Network Security platform, Threat Analytics Platform, annual assessments, and security operations plans.
"Leveraging the FireEye technologies and services team’s experience, we will expand our ability to provide clients with a holistic, intelligence driven approach that goes beyond simple benchmarking of limits and placement of insurance," said Michal Gnatek, VP of technology, Lockton. "Our clients will value the insights that CREATE offers into their risks. This relationship with FireEye is a game-changer because clients will be able to proactively address threats and subsequently respond appropriately to events, ultimately lowering their risk profile."
FireEye has invented a purpose-built, virtual machine-based security platform that provides real-time threat protection to enterprises and governments worldwide against the next generation of cyber attacks. These highly sophisticated cyber attacks easily circumvent traditional signature-based defenses, such as next-generation firewalls, IPS, anti-virus, and gateways. The FireEye Threat Prevention Platform provides real-time, dynamic threat protection without the use of signatures to protect an organization across the primary threat vectors and across the different stages of an attack life cycle. The core of the FireEye platform is a virtual execution engine, complemented by dynamic threat intelligence, to identify and block cyber attacks in real time. FireEye has over 2,200 customers across more than 60 countries, including over 130 of the Fortune 500.
About Lockton Companies
More than 5,300 professionals at Lockton provide 41,000 clients around the world with risk management, insurance, and employee benefits consulting services that improve their businesses. From its founding in 1966 in Kansas City, Missouri, Lockton has attracted entrepreneurial professionals who have driven its growth to become the largest privately held, independent insurance broker in the world and 10th largest overall. Independent researcher Greenwich Associates has awarded Lockton its Service Excellence Award for risk management for large companies. For five consecutive years, Business Insurance magazine has recognized Lockton as a "Best Place to Work in Insurance." To see the latest insights from Lockton's experts, check Lockton Market Update.