Arceo.ai: Bridging the Gap Between Cybersecurity and Insurance

In light of ever-evolving, rapidly diversifying cyber threats, now more than ever, the insurance industry has the unique opportunity to provide meaningful coverage to enterprises. Although cyber insurance as-a-product has been in the market for 17 years, the notion has not yet matured enough to provide proper coverage for the complex vulnerabilities and breaches that businesses face. Many of the insurance companies lack an in-depth understanding of cyber-risks, which leads to improper treatment of non-affirmative risks and difficulties in quantifying risks to define appropriate policies. This happens due to the lack of a shared vocabulary in which the two diverse industries of cybersecurity and insurance can interact. To this end, Arceo.ai, a San Francisco-based start-up, bridges this gap between cyber-security and insurance through their cutting edge AI-driven platform. Leveraging curated security data for accurate risk-assessment, and workflow automation for efficiency, the company’s platform enables insurers and brokers to better assess, underwrite, and manage cyber risks. To maximize the effectiveness of cyber insurance, the company extends its solution to all the parties involved— the insured, the insurer, and the intermediary. In other words, they offer customized solutions for insurers, brokers, and enterprises.

To help insurers quantify cyber risks, Arceo.ai traces the latest trends and advancements on the cyber threat landscape and deduces how they could affect enterprises pertaining to various industry verticals. “By tracing the specific lines, we provide insurers the capability to effectively tailor their cyber-insurance offerings according to needs of industry verticals,” says Vishal “V8” Hariprasad, the CEO, and Co-founder of Arceo.ai. They provide an internal dataset–a data feedback loop, driven by ML, which acts as the gateway of information for insurers to understand their customers’ security needs, allowing them to frame policies accordingly. It also enables them to choose the right behavior for offering prescriptive pre-breach guidance to clients for mitigating threats. As such, the offering helps prevent attacks, thereby eliminating the need for unnecessary elements of coverage.