Insurtech At-Bay is using heuristics - the ability to adjust data-points in real time - to determine levels of cyber risk. The start-up assesses risk based on future predictions, a departure from the traditional method of determining cyber risk exposure, which usually makes use of analysing past incidents of security breaches. The firm has now raised $6 million from a group of investors led by LightSpeed Venture Partner. The insurtech is able to bring insurance policies to market due to its primary backer being Munich Re’s Hartford Steam Boiler.
Insurtech At-Bay is using heuristics - the ability to adjust data-points in real time - to determine levels of cyber risk. The start-up assesses risk based on future predictions, a departure from the traditional method of determining cyber risk exposure, which usually makes use of analysing past incidents of security breaches. The firm has now raised $6m from a group of investors led by LightSpeed Venture Partner. The insurtech is able to bring insurance policies to market due to its primary backer being Munich Re’s Hartford Steam Boiler.