Security firm Armorblox has partnered with InsurTech firm Coaliation to offer an end-to-end solution that combines best in-class email security and cyber insurance to companies.
According to Armorblox, this solution will help protect organisations from cyber threats such as business email compromise, phishing attacks and email account compromise.
Armorblox claims it can protect against a broad spectrum of financial fraud, data theft and account compromise – offerings which can result in fewer cyber insurance claims and reduced premiums over time.
Unlike legacy secure email gateways, Armorblox uses Natural Language Understanding to analyse and identify targeted financial fraud, business email compromise and phishing attacks. The company added that its technology protects the human workforce – the most vulnerable layer – and prevents accidental or malicious disclosure of an organisation’s sensitive data and protects against financial fraud via email.
The new platform – Coalition Control – will enable organisations to immediately mitigate their cyber risk while offering a robust partner ecosystem to help companies protect themselves moving forward.
Armorblox CEO DJ Sampath said, “Two things are a must to have a modern approach to mitigating the risk posed by cyber threats. An email security platform that can protect against sophisticated email-based threats like BEC, EAC, phishing, and ransomware, combined with a modern cyber insurer that understands the risks posed by today’s attack landscape. We are excited to partner with Coalition and completely transform how today’s organizations think about cyber risk mitigation.”
Coalition head of risk and security products Payal Chakravarty added, “Coalition offers much more than basic cyber insurance—we provide policyholders best-in-class proactive cybersecurity tools to manage their digital risk and protect the value of their entire business. Cyber risk is becoming the defining risk of our age. BEC and funds transfer fraud (FTF) incidents accounted for 48% of all reported incidents in the first half of 2021. We are proud to partner with Armorblox to offer our customers the tools and peace of mind to protect them from cyber threats.”
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