Pen Underwriting, a subsidiary of Arthur J Gallagher, has launched Pen Shield, an “improved” cyber danger administration platform.
The platform, based on the corporate, is designed to supply “enhanced” danger administration instruments for world cyber policyholders.
The platform will likely be issued as normal with all cyber insurance policies from 1 June 2025, for each new and renewing policyholders.
It goals to reinforce corporations’ defences in opposition to cybercrime, cut back the danger of information breaches and deal with the prevalent concern of human error in cybersecurity.
Unique to Pen’s insured shoppers by way of dealer companions, it integrates technological companies with cybersecurity consultancy experience to deal with vulnerabilities inside organisations’ cyber infrastructure.
The platform’s options embody vulnerability scans, danger identification, and quick steps for remediation and risk intelligence feeds that supply insights into cyber threats.
Moreover, an e-mail safety plug-in and multi-channel phishing simulations are a part of the platform’s preventive measures, supported by AI-driven cybersecurity {and professional} oversight.
For brokers, Pen Shield supplies instruments for portfolio evaluation and notification, utilising Pen’s aggregated knowledge to determine widespread cybersecurity points and rising threats.
Moreover, the platform contains pre-bind vulnerability scans, producing client-specific stories that may be hooked up to Pen cyber insurance coverage quotes.
These stories help brokers in explaining safety vulnerabilities to shoppers and advising on acceptable countermeasures, the corporate added.
Pen Cyber head Ian Summerfield mentioned: “Our goal in enhancing Pen’s danger administration providing is twofold. First, to assist brokers win and retain enterprise by providing their shoppers tailor-made danger options they’ll’t get elsewhere, whose advantages can simply and persuasively be demonstrated.
“Second, to proactively assist insureds determine, deal with and cut back their publicity to cyber danger and keep away from the enterprise value, disruption and even paralysis that each one too simply circulation from a profitable cyber incident.
“Our earlier danger administration suite was highly effective; Pen Shield may show an actual game-changer for insureds and brokers alike.”
Pen Underwriting affords cyber insurance coverage to small and medium-sized enterprises and enormous corporates within the UK, US, Canada, Australia and New Zealand, with plans to increase its companies to further areas.
In February, the corporate expanded its marine insurance coverage choices to cowl US ports and terminals.
