Fueling Growth for Cyber Insurance in Small and Medium-Sized
Enterprises

TEL AVIV, Israel & NEW YORK–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/CyberRisk?src=hash” target=”_blank”gt;#CyberRisklt;/agt;–Cytegic Inc. and The Phoenix Insurance Company LTD today announced a
partnership leveraging Cytegic’s platform to automate cyber insurance
risk analysis and underwriting for the Israeli market, making cyber
insurance accessible and relevant for small and medium-sized enterprises
and not just large corporations.

The Phoenix Insurance, the fastest growing insurance company in Israel
and a leader in special coverages, together with Cytegic, the leading
automated comprehensive cyber risk management and quantification
platform powering the cyber insurance revolution, will also work
together to fuel growth and manage portfolio risk in new markets outside
of Israel.

Elon Kaplan, Chief Executive Officer, Cytegic said, “Cyber risk
quantification is one of the biggest challenges faced by the insurance
world today. Cytegic, with its ground breaking ACRO (Automated Cyber
Risk Officer), is a pioneer in rapid assessment of risk and financial
impact for the small and mid-market organizations. The Phoenix, one of
the most innovative insurance companies, is a natural partner for
collaboration and penetration of this growing global market.”

Avi Manaim, Chief Innovation Officer, The Phoenix Insurance said, “As
the leading insurer in Israel, The Phoenix has experienced strong growth
by providing the best insurance products and experience, powered by
cutting edge technologies. Cyber insurance is a global opportunity which
requires deep expertise and sophisticated technologies. Partnering with
Cytegic opens new horizons for The Phoenix both locally and
internationally.”

Cytegic will showcase their platform and assessment tools in the Israeli
Export Institute Pavilion at the RSA 2019 conference the week of March 4
to March 8 in San Francisco. For more information or a demo contact [email protected].

ABOUT CYTEGIC

Cytegic’s revolutionary cyber risk platform is the industry’s first
automated end-to-end solution that encompasses the entire scope of cyber
risk management and financial impact analysis across the entire
insurance and risk value chain. After 25+ man-years of R&D and 4 granted
US patents, Cytegic has made groundbreaking steps in the highly
challenging task of quantifying cyber risk at any level of scale, from
SMB’s to Fortune 500 enterprises. Utilized globally by insurers,
enterprises and global consulting partners, Cytegic’s Automated Cyber
Risk Officer (ACRO), leverages forward-looking, contextual and
quantified global threat intelligence with internal, technologically
validated defensive capabilities, to automatically identify risks to an
organization’s business assets and financial impact at any degree of
granularity. We can finally talk about cyber risk as a business risk
tied to dollars and ROI; and make informed business decisions.

Contacts

Cristina Dolan
[email protected]