CloudCover launched CloudCover App (CC-App), offering users a portable security operation center (SOC) able to detect, analyze, respond to, report on, prevent and insure against cybersecurity threats for an organization on a real-time, incremental basis through Android, Windows or Apple smartphone.
Through the CC-App, C-suite leaders and other executives will have full visibility of their company’s cyber security risk. The app tracks all IT network security events, including event type, network risk scoring, and insurance premium costs.
“Ransomware attacks and data breaches have continued to skyrocket throughout the year, and when an event occurs, the buck stops at an organization’s C-suite – they’re the ones responsible for the damage,” says Stephen Cardot, founder and CEO of CloudCover. “Part of having peace of mind about your company’s network security is being able to have risk awareness, risk control, and risk transfer in the palm of your hand. We’re putting that visibility into the hands of the people who are responsible for making decisions about the company’s well-being and safety.”
To use the CC-App, a company first will need to fill out CloudCover’s CyberSafety Registry. The Registry provides an enterprise governance risk and compliance risk score according to a company’s business sector, geography and trade vertical. The Registry is able to calculate a company’s Compliance Risk and Governance Risk score and thereby create an overall CyberSafety score, giving organizations the holistic, accurate view of their company’s potential business interruption risk.
After the CyberSafety score has been calculated, organizations are provided a proof-of-concept opportunity to test CloudCover’s CC/B1 CyberSafety Platform. The platform will crawl the company’s network in 72 hours and the CC-App’s dashboard will begin to populate.
An organization can then make the decision to purchase cybersecurity protection utilizing the CC/B1 Platform. The CyberSafety scoring is used to formulate CloudCover’s cybersecurity insurance (risk underwriting) by leveraging algorithms from the CC/B1’s machine learning.
The CC-App launch coincides with the company’s rollout of several offerings, all of which signal a new era for cybersecurity insurance:
- In September 2021, the company announced a $1 Million Ransomware Warranty for organizations that sign on for a three-year contract with its CC/B1 CyberSafety Platform.
- In December 2021, the company reported that their patent application for the invention of a cybersecurity insurance platform that utilizes a blockchain underwriting real-time process has been approved.
- In December 2021, CloudCover Cyber Liability (CCCL) and Information Systems Business Interruption (ISBI) insurance was launched.
- CloudCover Cybersecurity Network Data Insurance is set to follow in the first quarter of 2022.