NEW YORK, Nov. 19, 2024 (GLOBE NEWSWIRE) — WTW (NASDAQ: WTW), a number one world advisory, broking, and options firm, at this time introduced a partnership with Kayna, an award-winning embedded insurance coverage infrastructure platform; and Vibrant, an Easton, Pennsylvania-based platform that manages third-party vendor cybersecurity oversight by monitoring insurance coverage protection particulars.
- US-based vertical SaaS platform Vibrant manages third-party vendor cybersecurity oversight by monitoring vendor insurance coverage protection straight with protection data from carriers;
- Kayna’s embedded insurance coverage infrastructure allows WTW cybersecurity insurance coverage distribution with steady vendor protection assessments to shut safety gaps and safeguard ongoing compliance packages;
- Answer designed to help Procurement, Operations and Provide Chain capabilities inside cross-industry options together with Manufacturing, Schooling, Healthcare, Utilities, Monetary Companies, Retail, State & Municipal Authorities sectors
Vibrant’s progressive platform allows organizations with intensive vendor networks to simply monitor the cybersecurity standing of their provide chain, offering steady, real-time insights with out the necessity for time-consuming, expensive assessments. The partnership, by means of the mixing of Kayna expertise facilitating WTW-brokered insurance coverage distribution, enhances Vibrant’s insurance-based mannequin by producing real-time alerts when a vendor’s cybersecurity standing could pose a danger to the organizations they help. The combination additionally affords at-risk distributors fast entry to indicative insurance coverage quotes and streamlined coverage technology, successfully closing safety gaps within the provide chain. This complete method simplifies third-party danger administration, along with selling improved cybersecurity requirements throughout the seller ecosystem.
Paul Prendergast, Co-Founder and CEO, Kayna, commented, Vibrant makes it straightforward to identify cyber dangers from distributors by tapping into the trusted, superior warning techniques from insurance coverage carriers. Our function is so as to add worth by utilizing Kayna expertise to set off vendor danger alerts and facilitate easy entry to WTW-brokered insurance coverage merchandise. We take away the heavy paperwork and administrative burden from organizations and their distributors, facilitate the speedy onboarding of recent suppliers, and help the availability of right-sized cybersecurity protection to particular person companies throughout the excellent accepted vendor itemizing. It is a tailor-made, automated resolution that allows organizations to keep up strong vendor administration controls as they go about their every day enterprise.
Kayna expertise leverages Vibrant monitoring information to facilitate the supply of related, right-sized, WTW-brokered insurance coverage insurance policies to at-risk distributors. The partnership boosts organizational oversight and danger administration controls, along with vendor compliance, to mitigate breaches brought on by vendor vulnerability.
Rathi Niyogi, CEO, Vibrant, commented, Monitoring the cybersecurity standing of enormous numbers of distributors has historically been fairly costly and sophisticated. Our resolution addresses this complexity with an method designed to be very simple, able to monitoring huge numbers of distributors whereas requiring minimal assets. By way of our new Kayna and WTW partnership, Vibrant leverages the ability of progressive InsurTech to carry outstanding capabilities to organizations that had been beforehand priced out of essential protections.”
Nabeel Tanveer, Director of Development and Strategic Initiatives, Affinity, WTW, added, The power to now orchestrate insurance coverage options that proactively ship embedded insurance coverage choices “ while flagging changes to the risk profile of any vendor during the insured’s policy period “ is a valuable demonstration around the alignment of WTW and Kayna technologies. Vibrant is an excellent showcase of a platform solving risk challenges for their client base. Working together, we will work towards closing the protection gap, while helping solve the real problem of underinsurance.
About Kayna
Kayna enables embedded insurance through vertical SaaS platforms. It provides the technology and data orchestration layer between carriers, brokers and any vertical SaaS platform to distribute products that are directly relevant to platform customers. Founded in 2021, Kayna was developed in the Founders Factory Venture Studio in collaboration with Aviva (LON:). It is a Lloyd’s Lab Accelerator Programme Cohort 9 alumnus, and winner of the 2023 InsurTech NY’s Carrier/Broker Competition for Global Early-Stage Insurtech. Kayna is partnered with AEGIS London and WTW and is backed by Delta Partners (Ireland), MiddleGame Ventures (pan-European), Aperture (Switzerland), and InsurTech Fund, an affiliate of InsurTech New York (US). Kayna operates across platforms that serve millions of people and businesses worldwide, ranging from field services, fintech and retail, to personal care and wellness. For more information, visit https://kayna.io/
About Vibrant
Vibrant is a third-party cybersecurity management platform that provides organizations with independent oversight of their vendors or suppliers. Vibrant serves organizations that are exposed to significant cybersecurity risk from large vendor populations but face resource constraints that prevent adequate oversight. Simplicity (NASDAQ:) is the guiding principle of Vibrant’s approach, which leverages a resource that vendors already use: cybersecurity insurance. An autonomous, hands-free solution, Vibrant allows organizations to monitor thousands of vendors with minimal cost and effort. For more information, visit https://vibrantcyber.com/
About WTW
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance. Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success”and supply perspective that strikes you. Study extra at wtwco.com.
Media Contacts
Douglas Menelly
Douglas.Menelly@wtwco.com +1 (516) 972 0380
Arnelle Sullivan
Arnelle.Sullivan@wtwco.com +1 (718) 208-0474
Supply: Willis Towers Watson (NASDAQ:) US LLC
