KYND Limited, a leading provider of next-generation cyber risk management technology, has announced its partnership with MDS, a Lloyd’s broker based in Portugal with a global presence in the largest specialised insurance market. Through this collaboration, MDS aims to enhance client retention, boost the cyber resilience of its portfolio organisations, and facilitate the implementation of proactive cyber risk management in the face of the rapidly changing digital landscape.
MDS and KYND share a common goal of increasing awareness and visibility of cyber risks. A 2022 survey of CIOs worldwide revealed that 66% of respondents planned to increase investment in cybersecurity. MDS’s commitment to enhancing the visibility of cyber insurance demonstrates its foresight in recognising cyber threats as one of the biggest risks faced by businesses. With over 500,000 new forms of malware being detected every day according to a 2023 report, organisations must proactively address cyber risks to protect their operations from potentially devastating impacts.
The partnership between KYND and MDS aims to address this challenge and establish MDS as a trusted advisor to its clients throughout the insurance policy lifecycle. KYND’s advanced cyber risk management technology and expert advisory services will complement MDS’s role. KYND’s START reports, which provide vulnerability assessments, will equip MDS’s broking specialists with an instant and non-intrusive snapshot of an organisation’s risk posture. MDS can leverage these reports to offer tailored and prioritised remediation advice, helping clients address their most critical cyber vulnerabilities before policy submission. This approach will not only reduce claims but also enhance the overall cyber resilience of MDS’s book of business.
Andy Thomas, CEO and Founder of KYND, expressed his excitement about the partnership, stating, “We are delighted to support MDS as they continually strive to raise awareness about the importance of cyber insurance. Partnering with a company that seeks to establish trends rather than merely respond to them, and that values proactive cyber risk management, is an honor. Together, we look forward to increasing visibility of digital threats and boosting cyber resilience in today’s uncertain cyber environment.”
Pedro Pinhal, Technical and Claims Director of MDS Group, emphasised MDS’s commitment to being a trusted advisor, highlighting their partnership with KYND as a means to provide actionable risk intelligence to help organisations improve their cyber defenses and access cyber insurance under the best terms and prices. Pinhal further explained that leveraging KYND’s capabilities will enable MDS to select the right cyber risks, win new clients, drive client retention, and enhance their overall insurance offerings.
With this collaboration, MDS and KYND aim to empower organisations to strengthen their cyber defenses, mitigate risks, and navigate the evolving cyber landscape with confidence.
