Unparalleled expertise coupled with deep sector experience in UK market
Firm brings truly unique perspective and novel approach to helping clients manage their ever-growing cyber risk
LONDON, Sept. 26, 2022 /PRNewswire/ -- Resilience, the next-generation cyber risk company on a mission to help the world become cyber resilient, has expanded its global offering by launching a new operation in London to better serve the UK market. This development comes at a time of growth for the company and follows a swathe of senior hires drawn from the UK's most reputable insurance, intelligence, and cybersecurity organisations.
In a deal brokered by Lockton Re LLP, this expansion is backed by a capacity agreement with HDI Global Specialty SE, for Resilience to enter the UK market.
Resilience's leadership in the cyber insurance and cybersecurity sectors is unparalleled. Founded in 2016 by experts from across the highest tiers of the US military and intelligence communities, augmented by prominent leaders and innovators from insurance and technology, the firm is seeking to shift the paradigm of how cyber risk is managed by optimising how a company's risk transfer, cybersecurity, and tech behaviour work together. The firm is proud to be broker-first and broker-only in its approach, partnering closely with brokers to find the right cyber risk solution for its clients.
Under the leadership of CEO & co-founder Vishaal Hariprasad, Resilience has developed its truly unique value proposition and perspective over a number of years, applying a novel and proprietary approach to the challenge of an ever-growing risk of cyber-attack and breach of data integrity to companies and organisations. Rooted in decades of experience, the firm identified that as companies continue to invest in digital transformation, the gap between cybersecurity investment, cost of cyber insurance, and losses from cybercrime continue to widen – driving this critical need to rethink the approach to managing cyber risk. It is estimated that the global cost of cyber-attacks will reach $10.5 trillion by 2025, presenting an egregious threat to both commercial growth and economic security.
Partnering with Hariprasad is insurance industry leader Mario Vitale, President of Resilience's Insurance Group, who has an impressive track record of building organisations around the world, including in the UK. Ranging from leading Willis Towers Watson to Zurich Financial Services, Vitale brings more than 40 years of experience in various senior leadership positions across the insurance industry.
Joining Vitale in leading their global expansion is Kyle Bryant as International Chief Underwriting Officer at Resilience. Prior to joining Resilience in 2021, Bryant was responsible for Chubb's Overseas General Insurance where he oversaw the strategy, development, and financial performance of the Cyber and Technology lines of business in international markets, based out of London.
To prepare for this market launch, Resilience has made multiple key strategic hires throughout the second and third quarters of 2022, including newly appointed Head of International Distribution and Strategy Jack Jenner, (formerly of global financial institutions Allianz and Zurich), as well as other senior underwriting professionals with experience drawn from Allianz Global Corporate & Specialty, Chubb, and Tokio Marine Kiln. Providing key UK cybersecurity expertise and insights is former UK armed forces veteran turned security professional Simon West and other industry professionals from cybersecurity companies.
Resilience looks forward to partnering with brokers to help enterprises across the UK become cyber resilient.
Vishaal Hariprasad, CEO and co-founder of Resilience, said: "The last couple of years made it clear: you can't separate your cyber insurance from your cybersecurity if you want to manage your cyber risk correctly. We've instead got to break the silos and look at cyber risk holistically. Our goal is cyber resilience: continuously improving companies' risk profiles by connecting their coverage with their cybersecurity plan to reinforce great cyber hygiene. What we propose is dynamic: reduce the risk, reduce the risk transfer cost, reduce the severity of a breach, reduce the risk to partners, and improve your business's agility and competitiveness. That's Resilience's mission."
Mario Vitale, President of Resilience's Insurance Group, added: "To rewrite the rules of how companies manage their cyber risk, you need innovative thinking and a new approach to it. That's why we're so excited by our recent UK leadership hires, who integrate UK and European cyber underwriting expertise with British national cybersecurity experience. Every company's cyber risks are interestingly both now unique and local, as well as universal and global. Our combination of expertise gives us the unrivalled ability to work with truly holistic thinking around a company's cyber risk posture. And most of all, we are proud to always be broker-first - we roll up our sleeves and work with our broker partners to find the right solution for clients."
James Franklin, Cyber Lead of HDI Global Specialty SE, UK added: "We've been impressed by Resilience's client focus and the leadership and underwriting teams they've assembled. This offering represents a commendable example of where well-established socio-technical security and insurance-based risk management techniques can come together."
View original content:https://www.prnewswire.co.uk/news-releases/us-cyber-risk-mga-resilience-expands-global-reach-with-uk-launch-301633558.html
