Not just another Governance, Risk and Compliance tool.
The Arco Cyber platform distinguishes itself from typical Governance, Risk, and Compliance (GRC) tools by integrating unique features that cater specifically to the needs of the insurance sector, coupled with performance and trend data analysis capabilities.
This integration not only aids organisations in managing their governance, risk, and compliance tasks more efficiently and provides a comprehensive view of their cybersecurity posture over time.
The insurance application component of the platform streamlines the process of applying for and managing cyber insurance policies, making it easier for organisations to obtain the coverage they need based on their specific risk profiles.
Insurance intelligence is critical for organisations when cyber threats are constantly evolving and escalating, and having adequate insurance coverage is crucial for mitigating financial risks associated with data breaches and other cyber incidents.
It's also essential that insurance companies understand where the gaps and risks are in such a dynamic playing field.
Research shows that only one in four policies is fully paid out post-major incidents ( "Cyber Claims Analysis Report" by Willis Towers Watson ) due to non-compliance with policy terms linked with underperforming or inadequately deployed controls.
This scenario underscores a significant gap in uninsured losses, compelling company finances to recuperate alongside the extensive impact of rebounding from a major incident.
Arco's prowess lies in its capacity to ensure the robust deployment of the controls businesses have invested in, thereby safeguarding the enterprise and its insurance policy coverage against such vulnerabilities.
Moreover, including performance and trend data analysis furthers the platform by enabling organisations to track their cybersecurity performance over time.
Arco can help identify trends, assess the effectiveness of implemented security measures, and make data-driven decisions to improve their cyber resilience. By providing insights into how an organisation's cybersecurity posture changes in response to new threats or security initiatives, Arco Cyber's platform empowers organisations to manage their cyber risks and adapt their strategies accordingly and proactively.
The Arco Cyber platform's unique integration of insurance application processes with performance and trend data analysis sets it apart from traditional GRC tools, offering a more holistic approach to cybersecurity risk management and insurance.