Comparison of Cyber Insurance Providers Considering Silverfort Usage
By Lucy Chen | Published: 2025-02-27 | Category: Cyber Insurance Coverage Silverfort
About Cyber Insurance Coverage Silverfort
Cyber insurance policies are designed to mitigate financial losses associated with various cyber incidents. Some insurers increasingly factor in the use of specific security controls, such as advanced identity protection platforms like Silverfort, into their underwriting and pricing.
Scoring Criteria
- → Identity Security Integration
- → Proactive Risk Assessment
- → Incident Response Support
- → Policy Coverage Breadth
- → Claims Handling Reputation
- → Technology Partnerships/Ecosystem
The Best Cyber Insurance Coverage Silverfort
#8
Cowbell Cyber Insurance
By Cowbell Cyber
Focuses on AI-driven cyber insurance for SMEs, providing continuous risk assessment and tailored coverage.
Platforms & Use Cases
Platforms: Insurance Policy
Best For: SME Cyber Risk Coverage, Ransomware Response, Business Email Compromise, Data Breach Costs for SMEs, Social Engineering Fraud
Key Features
- ✓Cowbell Factors: Continuously updated risk ratings based on various data sources. (High)
- ✓AI-Powered Underwriting: Utilizes AI for rapid risk assessment and quoting. (High)
- ✓Focus on Controls: Underwriting emphasizes key security controls, including MFA and identity security. (High)
- ✓Risk Mitigation Resources: Provides access to resources and recommendations for improving security posture. (Good)
Scorecard (Overall: 8.2 / 10.0)
Pricing
Custom SME Policy
$-1.00 / Annual
- Tailored limits for SMEs
- Continuous Risk Monitoring
- Access to Risk Engineering Team
Limitations: Primarily focused on SME market, Quote-based pricing influenced by risk factors
Pros
- + AI-driven, continuous risk assessment specifically for SMEs
- + Fast quoting process
- + Likely values demonstrable controls like Silverfort
- + Focus on preventative measures
Cons
- - Newer player, less established claims history
- - May not suit very large or complex enterprises
Verdict
"A strong tech-focused option for SMEs who have invested in security controls and want that reflected in their insurance."
#7
AXA XL Cyber Insurance
By AXA XL
Major global insurer providing customizable cyber insurance solutions with risk management services for complex risks.
Platforms & Use Cases
Platforms: Insurance Policy
Best For: Cyber Incident Response, Business Interruption Loss, Data Privacy Liability, Network Security Liability, Cyber Crime
Key Features
- ✓Global Program Capabilities: Strong support for multinational organizations. (High)
- ✓Risk Consulting Services: Offers pre- and post-incident risk management support. (Good)
- ✓Tailored Solutions: Customizable policies for various industries and risk profiles. (High)
- ✓Emphasis on Controls: Underwriting considers security maturity, including identity protection measures. (High)
Scorecard (Overall: 8.1 / 10.0)
Pricing
Custom Corporate Policy
$-1.00 / Annual
- Bespoke Coverage Limits and Terms
- Access to Preferred Vendor Network
- Risk Management Workshops/Training
Limitations: Complex underwriting for large risks, Pricing reflects comprehensive nature
Pros
- + Large capacity and financial strength
- + Global reach and expertise
- + Flexible policy structures
- + Understands the importance of key security controls
Cons
- - Less tech-integrated than specialized insurtechs
- - Can be bureaucratic for smaller clients
Verdict
"Solid traditional insurer choice for larger organizations needing global coverage and high limits, recognizing good security practices."
#6
Beazley Cyber & Tech
By Beazley
Pioneer in cyber insurance offering specialized policies with a focus on breach response and risk management services.
Platforms & Use Cases
Platforms: Insurance Policy
Best For: Data Breach Notification & Credit Monitoring, Cyber Extortion & Ransomware, Technology E&O, Media Liability, Business Interruption
Key Features
- ✓Beazley Breach Response (BBR) Services: In-house team coordinating legal, forensic, and notification services. (Very High)
- ✓Risk Management Portal: Provides policyholders with training and risk mitigation resources. (Good)
- ✓Experienced Underwriting: Long history in cyber insurance, understands evolving threats and controls. (High)
- ✓Assessment of Controls: Underwriting considers security posture, including identity management. (High)
Scorecard (Overall: 8.4 / 10.0)
Pricing
Custom Policy
$-1.00 / Annual
- Access to BBR Services
- Tailored Coverage Options
- Optional E&O Coverage
Limitations: Quote-based pricing, Focus may be slightly more reactive (response) than proactive (scanning)
Pros
- + Market leader with extensive experience
- + Strong, dedicated breach response services
- + Sophisticated understanding of cyber risk
- + Recognizes importance of security controls
Cons
- - Less emphasis on integrated, continuous scanning compared to newer players
- - Can be complex policies
Verdict
"A strong, experienced provider with excellent incident response, suitable for those valuing expertise and response capabilities."
#5
Chubb Cyber Insurance
By Chubb
A leading global insurer offering comprehensive cyber policies with robust incident response and risk engineering services.
Platforms & Use Cases
Platforms: Insurance Policy
Best For: Large Scale Breach Response, Global Incident Coordination, Regulatory Defense Costs, Cyber Terrorism Coverage, Digital Asset Restoration
Key Features
- ✓Global Capabilities: Extensive global network for claims and incident response. (Very High)
- ✓Risk Engineering: Provides pre-breach services and risk assessments. (High)
- ✓Comprehensive Coverage: Offers broad policy wordings and high limits. (Very High)
- ✓Underwriting Scrutiny: Detailed underwriting assesses security controls; strong MFA/identity is a key factor. (High)
Scorecard (Overall: 8.6 / 10.0)
Pricing
Custom Enterprise Policy
$-1.00 / Annual
- High Policy Limits Available
- Access to Chubb Cyber Incident Response Team
- Risk Management Resources
Limitations: Can be expensive, Detailed underwriting process
Pros
- + Financial strength and stability
- + Excellent claims handling reputation
- + Deep expertise in complex cyber risks
- + Sophisticated underwriting likely values strong identity controls
Cons
- - Potentially less focus on continuous external scanning compared to insurtechs
- - Higher premiums likely
Verdict
"Top-tier traditional insurer valuing robust security; suitable for large organizations needing high limits and global support."
#4
Resilience Cyber Insurance
By Resilience
Offers cyber insurance integrated with cybersecurity expertise and solutions, aiming to build cyber resilience.
Platforms & Use Cases
Platforms: Insurance Policy
Best For: Comprehensive Cyber Incident Costs, Business Interruption from Cyber Events, Data Recovery and Forensics, Reputational Harm, Liability Claims
Key Features
- ✓Integrated Security Services: Combines insurance with active security engagement and advice. (High)
- ✓Focus on Resilience: Aims to improve client security posture over time. (High)
- ✓Tailored Underwriting: Underwriting considers specific security controls and maturity. (High)
- ✓Recognition of Advanced Controls: Likely values sophisticated identity protection like Silverfort in risk assessment. (High)
Scorecard (Overall: 8.6 / 10.0)
Pricing
Custom Policy
$-1.00 / Annual
- Bespoke Coverage
- Access to Resilience Security Team
- Continuous Risk Monitoring Elements
Limitations: Quote-based pricing, May require higher security maturity for best terms
Pros
- + Holistic approach combining insurance and security services
- + Focus on partnership and improving client resilience
- + Sophisticated understanding of security controls
- + Good incident response integration
Cons
- - Newer market entrant compared to traditional giants
- - May be more selective in underwriting
Verdict
"A compelling option for organizations seeking a partnership approach that values and understands advanced security measures."
#3
Corvus Insurance (Travelers)
By Corvus Insurance (Acquired by Travelers)
Leverages AI and data science for 'Smart Cyber Insurance', incorporating security scanning into underwriting.
Platforms & Use Cases
Platforms: Insurance Policy
Best For: Cyber Crime Financial Loss, System Damage and Restoration, Contingent Business Interruption, Privacy Liability, Media Liability
Key Features
- ✓Corvus Scan: Proprietary vulnerability scan informing underwriting. (High)
- ✓Risk Management Tools: Provides policyholders with tools and resources for risk reduction. (Good)
- ✓Data-Driven Underwriting: Emphasizes empirical data, likely valuing demonstrated security controls. (High)
- ✓Integration of Identity Controls: Security scans and underwriting likely assess MFA and identity security effectiveness. (High)
Scorecard (Overall: 8.5 / 10.0)
Pricing
Custom Policy
$-1.00 / Annual
- Coverage Tailored by Scan Results
- Risk Management Portal Access
- Proactive Threat Alerts
Limitations: Quote-based pricing, Integration with Travelers systems ongoing
Pros
- + Data-driven approach to risk assessment
- + Provides actionable security insights
- + Likely rewards strong security postures
- + Backed by Travelers' financial strength
Cons
- - Focus might be more on external scan data than internal controls nuances initially
- - Post-acquisition integration details might evolve
Verdict
"Strong data-driven option that appreciates good security hygiene, making it suitable for Silverfort users."
#2
At-Bay Cyber Insurance
By At-Bay
Combines cyber insurance with active security monitoring services, focusing on reducing ransomware risk and valuing strong security measures.
Platforms & Use Cases
Platforms: Insurance Policy
Best For: Ransomware Attack Mitigation, Business Email Compromise, Data Breach Costs, Regulatory Fines, Network Interruption
Key Features
- ✓Active Security Monitoring: Provides continuous monitoring and vulnerability alerting. (High)
- ✓Technology-Driven Underwriting: Uses security posture data to inform underwriting and pricing. (High)
- ✓Emphasis on MFA/Identity: Underwriting standards strongly favor robust identity and access management controls. (Very High)
- ✓Broker Focused: Primarily distributed through insurance brokers. (Standard)
Scorecard (Overall: 8.8 / 10.0)
Pricing
Custom Policy
$-1.00 / Annual
- Tailored Coverage Limits
- Security Reports
- Access to Security Team
Limitations: Requires broker access, Pricing varies based on security scans
Pros
- + Strong focus on security posture in underwriting
- + Active monitoring helps prevent incidents
- + High likelihood of recognizing value from solutions like Silverfort
- + Specializes in cyber risk
Cons
- - May require specific security improvements for coverage
- - Relatively newer compared to traditional insurers
Verdict
"A top contender, particularly for businesses prioritizing security posture and using advanced identity controls."
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#1
Coalition Cyber Insurance
By Coalition
Provides comprehensive cyber insurance coupled with proactive cybersecurity tools and monitoring, strongly emphasizing security posture.
Platforms & Use Cases
Platforms: Insurance Policy
Best For: Breach Response Costs, Cyber Extortion, Business Interruption, Data Restoration, Third-Party Liability
Key Features
- ✓Active Risk Assessment: Continuously scans policyholder environments for vulnerabilities. (High)
- ✓Security Recommendations: Provides tailored advice based on scans, likely valuing strong MFA/identity controls. (High)
- ✓Integrated Security Tools: Offers access to security tools and services as part of the offering. (Yes)
- ✓Consideration of Identity Controls: Underwriting heavily weighs security controls; strong identity protection (like Silverfort) is typically viewed favorably. (Very High)
Scorecard (Overall: 9.2 / 10.0)
Pricing
Custom Policy
$-1.00 / Annual
- Policy Limits Tailored to Risk
- Access to Coalition Control Platform
- Dedicated Incident Response
Limitations: Quote-based pricing varies significantly
Pros
- + Strong emphasis on proactive security
- + Integrates risk assessment with insurance
- + Likely provides significant premium consideration for robust controls like Silverfort
- + Comprehensive coverage options
Cons
- - Pricing can be higher for perceived higher-risk clients
- - Requires active engagement with their security platform
Verdict
"Excellent choice for organizations leveraging advanced security like Silverfort, as their model rewards proactive controls."
Final Thoughts
The cyber insurance market is evolving, with leading providers increasingly integrating security posture assessments into their underwriting. Insurers like Coalition, At-Bay, and Corvus leverage technology to actively scan and assess risk, making them highly likely to recognize and reward the use of advanced identity protection solutions like Silverfort. Traditional insurers such as Chubb and Beazley also value strong controls, offering robust coverage and claims handling, albeit with potentially less integrated tech assessment. Resilience and Cowbell offer specialized approaches focusing on resilience-building and the SME market, respectively, both emphasizing the importance of security controls.