HUB Security launches Confidential Computing cyber solution for insurance industry

MOUNTAINVIEW, Calif. – HUB Cyber Security Ltd., developer of Confidential Computing cybersecurity solutions and services has launched a new cyber risk management solution for the insurance industry.

The solution allows insurance carriers and reinsurers to evaluate, price, and underwrite cyber insurance policies HUB stated. Users are provided a secure file vault that reduces the chances of attack and minimizes potential damage from lost or corrupted data. “As a result, insurance based on this technology redefines the addressable market potential as it can be much more affordable.” They wrote.

HUB said that the technology provides three major elements of protection: It makes it much harder for malware to get into client systems, if malware does gain entry it is detected in milliseconds and cleaned, and if malware attempts to steal private information. the transfer of data is blocked. HUB is partnering with Virtual I Technologies (VIT) to provide an affordable and easy-to-deploy security bundle that includes HUB technology.

"At Virtual i, we are committed to breaking down the inertia and outdated paradigms in the insurance industry by utilizing cutting-edge technologies and next-gen insurance solutions,” Sinan Geylani, VIT, Founder & CEO said. “Being the insurance innovation center, we are constantly pushing the boundaries of what is possible in the insurance sector. Our partnership with HUB has allowed us to solve one of the most fundamental problems in cyber insurance by providing high-security solutions through our innovative center. This partnership makes cyber insurance more accessible, affordable, and secure for micro, small, and medium-sized businesses. With our vision to become the center of gravity for innovation in the insurance sector, we are paving the way for a more secure, accessible, and sustainable future for the insurance sector. We are proud to be leading the way toward this transformative future.”

“The new Hub solution provides a twofold advantage: supplemental redundancy of data secured at its highest security level, by this making risk assessment and mitigation easier to accomplish, resulting in a lesser risk to insurers enabling them to lower prices and bring more companies to be able to purchase cyber insurance policies. It’s a win-win situation,” CEO of HUB Security Uzi Moskowitz added.