Cysurance and Kaseya to Deliver Compliance and Cyber Risk Management to Small Businesses

Cysurance, LLC, a New York-based cyber insurance agency, and Kaseya, a provider of IT infrastructure management solutions, have announced a partnership to help customers manage regulatory and online risks.

By bundling Kaseya’s Compliance Manager, a compliance process automation platform, with Cysurance’s cyber policy underwritten by Chubb, MSPs can offer customers a combined solution designed to reduce the risk of fines for non-compliance while also providing remediation and reimbursement after a cyber incident.

Kaseya Compliance Manager is a role-based platform that uses a wizard-driven workflow engine, automated network and computer data discovery, a web-based management portal and built-in compliance document generation and archiving.  It offers several modules for varying standards, including a cyber insurance module that increases the likelihood of claim payment by satisfying policy conditions.

Cysurance, a licensed agent, will enable MSPs and other partners to bind a broad policy of up to $2 million on behalf of their customer at the point of sale. Using the data discovery capabilities of products like Kaseya Compliance Manager, the platform scans the insured’s network and automatically records any anomalous activity in its proprietary blockchain, providing irrevocable proof of loss and full transparency. This also triggers a smart contract that initiates a covered breach response team to begin remediation, saving time and money.

“Kaseya Compliance Manger delivers Compliance-as-a-Service. Cysurance delivers Cyber-Insurance-as-a-Service,” said Max Pruger, general manager of compliance at Kaseya. “This partnership is a natural fit and gives MSPs a value-added offering that provides their customers not only with the tools to satisfy insurance policy conditions but also cost-effective, robust coverage to help them recover in the event of a breach,”

“By joining forces with Compliance Manager, we’ve created a product that gives MSPs the ability to be their clients’ one-stop shop for the cyber risk management trifecta of effective cybersecurity, cyber governance, and cyber insurance,” said Kirsten Bay, co-founder and CEO of Cysurance.

Channel Impact^®
According to the companies, 80 percent of small and medium businesses worry they will be the victim of a cyberattack, and 93 percent are willing to change MSPs if offered enhanced cyber services. The two companies appear to have synergy in this initiative.