DOXA ’s Post

The professional lines marketplace is heading towards stabilization as insurance carriers broaden their appetites and increase capacity. However, there are key areas to watch: With a positive outlook on venture capital funding, startups are poised for successful fundraising, potentially increasing exposure for both VC firms and the companies they back. Insurers are bracing for a continued rise in ransomware claims and cyber terrorism attempts, as cyber criminals evolve their tactics to bypass existing security measures. Geopolitical and international exposures are on the rise, adding complexity and risk. At DOXA, we’re closely monitoring these trends, ready to help our partners navigate this evolving landscape with agility and insight.

The professional lines marketplace is heading towards stabilization as insurance carriers broaden their appetites and increase capacity. However, there are key areas to watch: With a positive outlook on venture capital funding, startups are poised for successful fundraising, potentially increasing exposure for both VC firms and the companies they back. Insurers are bracing for a continued rise in ransomware claims and cyber terrorism attempts, as cyber criminals evolve their tactics to bypass existing security measures. Geopolitical and international exposures are on the rise, adding complexity and risk. At DOXA, we’re closely monitoring these trends, ready to help our partners navigate this evolving landscape with agility and insight.

#fundingalert 💼Company: KYND 💰Funding: Undisclosed Amount ⚡Round: New Round 👥Investors: Verisk Kynd, established in 2018 by Andy Thomas and Melanie Hayes. The money will be used by the business to advance both its objectives for #international expansion and its ongoing development of cyber #risk solutions. That’s going to change with KYND. All businesses can easily #monitor and understand the cyber risks they face, take appropriate action when needed, and be notified to future #dangers as they occur thanks to KYND’s cutting-edge, industry-first, and patented cyber risk management system. Read more - https://lnkd.in/gwssb29k To share your startup story write us on - contact@startuprise.co.uk #kynd #funding #eustartup

Motilal Oswal Financial Services (MOFSL), a leading broking firm, has recently faced a cyber attack orchestrated by LockBit, a ransomware group. As reported by TechCrunch, LockBit claims to have breached MOFSL's systems, accessing 'confidential data' and posing a potential risk to the information of over six million clients. This attack not only threatens the security of client data but also raises concerns for other business sectors under MOFSL, including asset management and investment banking. According to TechCrunch, the Computer Emergency Response Team (CERT-In) is currently taking action in response to this cyber threat. #cybersecurity #databreach #MOFSL #technews Link - https://lnkd.in/diEVRkpc

I am beyond excited to share some transformative news for DeNexus. We have successfully closed our Series A funding round! This marks a pivotal moment in our mission to build and end-to-end solution for Cyber Risk Management for Industrial Enterprises & Physical Critical Infrastructures. The round was led by Punja Global Ventures, with additional investments from AXA XL, Prosegur/SegTech, HCS Capital, and others. Visionary partners believing in our mission and future potential. Thanks to all of you for your support and trust.  I want to also welcome new members to our Board of Directors, Rimmo Jolly and Libby Benet, JD. They bring a wealth of expertise that will help us succeed. I am honored to work with them and with the rest of the Board. Industrial Enterprises and Physical Critical Infrastructures are specially targeted by cybercriminal actors. Understanding the drivers of cyber risk, quantifying the financial exposure and enable efficient management in these OT-heavy environments requires tailored solutions. We have spent years building our flagship platform DeRISK™, that empowers these organizations to better manage, predict, and mitigate cyber risks. We will now strengthen our presence in new industries and will continue our commitment to deliver an end-to-end cyber risk management solution. Thanks to all our customers. Your feedback is invaluable. Please keep pushing us to get the best out of us to serve you better. You are the reason why we do everything we do every day. Congratulations to all the team at DeNexus. Our dream is coming true, and we are delivering in our mission thanks to you! Now back to the saddle. So much done and so much yet to be done! “The distance between dreams and reality is called discipline”. -Paulo Coelho (link to the PR can be found in comments below)

Do you know Cybersecurity Ventures expects global cybercrime costs to grow by 15 percent per year, reaching £7.66 trillion annually by 2025, up from £3.85 billion in 2015? It has been seven years since a report from Cybersecurity Ventures predicted ransomware damages would cost the world £3.85 billion in 2017, up from £237 million in 2015 — a 15X increase in just two years. The damages for 2018 were predicted to reach £6.16 billion, for 2019 the figure was £8.86 billion, and in 2021 it was £15.4 billion — which is 57X more than it was in 2015. As businesses increasingly fall prey to sophisticated cyberattacks, the financial toll continues to climb. From multimillion-pound data breaches to devastating ransomware attacks, the stats are a wake-up call to the true cost of cyber insecurity. Staying ahead of these threats is crucial, not a luxury. Recent data from the Nationaal Cyber Security Centrum (NCSC-NL) highlights a significant rise in the frequency and complexity of attacks on the financial sector. The cost? Not just monetary losses, but also reputational damage and a decline in consumer trust. Sitting ducks don’t last long. Our mantra? Stay proactive and always one step ahead. We’re not just evolving our defenses; we’re turning them into an art form, becoming allies with the latest tech, and creating a culture where security gets the VIP treatment. Andy Thornley, the Head of Financial Services at techUK, will explore this topic in more depth at our forthcoming conference, Building Security and Trust in Financial Services and FinTech. He will unpack the complexities of "Where to begin? Assessing the UK market outlook for financial crime and cyber threats". Be part of the conversation and secure a spot today, you can register at the link in the comments section. #cybersecurity #FinTech #trust Will you join us? Michael Coyle Imran Khaliq Carrie Cleland Adrian Pitman Darrelle Wood Ciarán McMahon Neil Broadley Evelyn Ramsay Massimo Marrapese

🌐 Addressing Emerging Risks in Reinsurance Michael Steel, General Manager-Insurance Solutions at Moody's, discusses the latest trends in mitigating cyber risks, managing secondary perils, and leveraging new technologies to enhance data quality and workflow efficiencies. Watch the full interview here: https://bit.ly/4dRhVCR In Partnership with Moody's #InsiderOnAir #RVS2024 #EmergingRisks #CyberRisk

We're thrilled to congratulate our portfolio companies Grip Security, Gutsy and Orca Security who have been selected for Rising in Cyber 2024! This prestigious list, curated by Notable Capital alongside Fenwick & West, HSBC Innovation Banking and the NYSE recognizes outstanding innovation in the cybersecurity field. We couldn't be prouder of these companies for their remarkable achievements, commitment to pushing boundaries and relentless pursuit of excellence: Grip Security is transforming SaaS identity risk management with a groundbreaking platform that enables enterprises to secure all SaaS applications by leveraging identity as the key control point. Gutsy is delivering a cutting-edge security governance platform powered by process mining that offers security leaders a comprehensive view of their operations, enhancing risk management, auditing and compliance processes. Orca Security is at the forefront of agentless cloud security, providing unparalleled risk identification, prioritization and remediation across AWS, Azure, Google Cloud and Kubernetes. Well done!! #ProudInvestor #Innovation #TechLeaders #YLVentures #Grip #Gutsy #Orca #NYSE #Notable #Fenwick #HSBC#Notable

Turn the tide against potential financial losses from data breaches! 💡 This Thursday, join the Seclore team for an important discussion about transforming #databreaches from catastrophic events to harmless incidents. RSVP TODAY: https://lnkd.in/gSHszsn2 ⬅ For #FinancialServices firms, you'll learn the art of keeping data secure, even when compromised. Discover use-cases and upcoming threats. Be part of the push towards a safer future with #DataCentricSecurity - where protection becomes integral to the data itself. Your journey to pioneering #EnterpriseCybersecurity begins here! #DataSecurity #Cybersecurity #Finance #CreditUnions #Banking #Insurance #InvestmentBanking #FinTech

CSIS Security Group A/S (“CSIS”) is thrilled to announce the acquisition of Security Alliance Limited (“@SecAlliance”), a key milestone in the execution of the company’s strategy to establish itself as the European leader in actionable, intelligence-driven cybersecurity services. Cybercrime continues to inflict pain on organisations around the world. According to the Identity Theft Resource Center, in 2023 there was a 78% increase over 2022 in publicly reported data compromises. The latest IBM Cost of a Data Breach report also found that the average cost of a data breach reached an all-time high of $4.5 million in the same year. CSIS was founded in Copenhagen in 2003 and has firmly established itself as a reference player and trusted partner for Managed Detection & Response (MDR), Emergency Incident Response and Offensive Security Consulting services to enterprise and mid-market companies across a wide range of sectors. Daniel Alexander Shepherd, Rob Dartnall - CCTIM Read more - https://lnkd.in/g5ZMvw79 To share your startup story write us on - contact@startuprise.co.uk #CSIS #SecAlliance #News #acquisirion #startup