{"id":22800,"date":"2024-11-21T16:31:53","date_gmt":"2024-11-21T16:31:53","guid":{"rendered":"https:\/\/www.insurance-canada.ca\/?p=82129"},"modified":"2024-11-21T16:31:53","modified_gmt":"2024-11-21T16:31:53","slug":"kayna-and-wtw-partner-with-vibrant-to-drive-third-party-vendor-cybersecurity-insurance-compliance-across-complex-supply-chains","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2024\/11\/21\/kayna-and-wtw-partner-with-vibrant-to-drive-third-party-vendor-cybersecurity-insurance-compliance-across-complex-supply-chains\/","title":{"rendered":"Kayna and WTW Partner With Vibrant To Drive Third-Party Vendor Cybersecurity Insurance Compliance Across Complex Supply Chains"},"content":{"rendered":"<ul>\n<li><strong><span lang=\"EN-US\">US-based vertical SaaS platform Vibrant manages third-party vendor cybersecurity oversight by tracking vendor Insurance coverage directly with Carriers.<\/span><\/strong><\/li>\n<li><strong><span lang=\"EN-US\">Kayna\u2019s embedded insurance infrastructure set to <\/span>enable WTW cybersecurity insurance distribution with continuous <span lang=\"EN-US\">vendor coverage assessments to close protection gap and safeguard ongoing compliance.<\/span><\/strong><\/li>\n<li><strong><span lang=\"EN-US\">Solution to support Procurement, Operations and Supply Chain functions within organisations across Manufacturing, Education, Healthcare, Utilities, Financial Services, Retail and State &amp; Municipal Government sectors<\/span><\/strong><\/li>\n<\/ul>\n<p>Cork, Ireland (Nov. 10, 2024) \u2013 Kayna, the award-winning embedded insurance infrastructure platform, and WTW, a leading global advisory, broking and solutions company, have partnered with Vibrant, the Pennsylvania-based platform that manages third-party vendor cybersecurity oversight by tracking insurance coverage.<\/p>\n<p>Vibrant\u2019s innovative platform enables organisations with extensive vendor networks to easily monitor the cybersecurity status of their entire supply chain, providing continuous, real-time insights without the need for time-consuming, costly assessments. The partnership, through the integration of Kayna tech facilitating WTW-brokered insurance distribution, enhances Vibrant\u2019s insurance-based model by generating real-time alerts when a vendor\u2019s cybersecurity status may pose a risk to the organisations they supply. The integration also offers at-risk vendors immediate access to indicative insurance quotes and streamlined policy generation, effectively closing protection gaps in the supply chain. This comprehensive approach not only simplifies third-party risk management but also promotes improved cybersecurity standards across the entire vendor ecosystem.<\/p>\n<p>The solution will support Procurement, Operations and Supply Chain functions by delivering effective oversight to organisations across Manufacturing, Education, Healthcare, Utilities, Financial Services, Retail and State &amp; Municipal Government sectors.<\/p>\n<p>Commenting on the partnership, Paul Prendergast, CEO and Kayna co-founder, said, \u201cVibrant make it easy to spot cyber risk from vendors by tapping into the trusted, advance warning systems of insurance companies. Our role is to add value by using Kayna tech to trigger vendor risk alerts and facilitate easy access to WTW-brokered insurance products. We remove the heavy paperwork and admin burden from organisations and their vendors, facilitate the speedy onboarding of new suppliers and assist the provision of right-sized cybersecurity coverage to each individual business across an entire approved vendor listing. This is a tailored, automated solution that enables organisations to maintain robust vendor management controls as they go about their daily business.\u201d<\/p>\n<p>Kayna technology leverages Vibrant monitoring data to facilitate the offer of relevant, right-sized, WTW-brokered policy offers to at-risk vendors. The partnership boosts organisational oversight and risk management controls together with vendor compliance to mitigate breaches caused by vendor vulnerability.<\/p>\n<p>\u201cMonitoring the cybersecurity status of large numbers of vendors has traditionally been expensive and complex\u201d, said Rathi Niyogi, CEO at Vibrant. \u201cOur solution addresses this complexity with an approach designed to be extremely simple, and capable of monitoring vast numbers of vendors while requiring minimal resources. Through our new Kayna and WTW partnership, Vibrant leverages the power of innovative InsurTech to bring remarkable capabilities to organisations that were previously priced out of necessary protection.\u201d<\/p>\n<p>Nabeel Tanveer, Director of Growth and Strategic Initiatives \u2013 US WTW Affinity, \u201cThe ability to now orchestrate insurance solutions that proactively deliver embedded insurance options and flag changes to the risk profile of any vendor during the insured\u2019s policy period, is a valuable demonstration around the alignment of WTW and Kayna technologies. Vibrant is an excellent showcase of a platform solving risk challenges for their client base, and working together, we will work to close the protection gap, while helping solve the real problem of underinsurance.\u201d<\/p>\n<h4 class=\"smallhead\"><b>About Kayna<\/b><\/h4>\n<p>Kayna enables embedded insurance through vertical SaaS platforms. It provides the technology and data orchestration layer between carriers, brokers and any vertical SaaS platform to distribute products that are directly relevant to platform customers. Founded in 2021, Kayna was developed in the Founders Factory Venture Studio in collaboration with Aviva. It is a Lloyd\u2019s Lab Accelerator Programme Cohort 9 alumnus and winner of the 2023 InsurTech NY\u2019s Carrier\/Broker Competition for Global Early-Stage Insurtech.<\/p>\n<p>Kayna is partnered with AEGIS London and WTW and is backed by Delta Partners (Ireland), MiddleGame Ventures (pan-European), Aperture (Switzerland) and InsurTech Fund \u2013 an affiliate of InsurTech NY (US). Kayna operates across platforms that serve millions of people and businesses worldwide, ranging from field services, fintech and retail, to personal care and wellness. For more information, visit <a href=\"https:\/\/kayna.io\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">kayna.io<\/a>.<\/p>\n<h4 class=\"smallhead\"><b>About Vibrant<\/b><\/h4>\n<p>Vibrant is a third-party cybersecurity management platform that provides organizations with independent oversight of their vendors or suppliers. Vibrant serves organizations who are exposed to significant cybersecurity risk from large vendor populations but face resource constraints that prevent oversight. Simplicity is the guiding principle of Vibrant\u2019s approach, which leverages a resource that vendors already use: cybersecurity insurance. An autonomous, hands-free solution, Vibrant allows organizations to monitor thousands of vendors with minimal cost and effort. For more information, visit <a href=\"https:\/\/vibrantcyber.com\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">vibrantcyber.com<\/a>.<\/p>\n<h4 class=\"smallhead\"><b>About WTW<\/b><\/h4>\n<p>At WTW&nbsp;<em>(NASDAQ: WLTW)<\/em>, we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.&nbsp;Working shoulder-to-shoulder with our clients, we uncover opportunities for sustainable success \u2013 and provide perspective that moves you. For more information, visit&nbsp;<a href=\"https:\/\/www.wtwco.com\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">www.wtwco.com<\/a>.<\/p>\n<p class=\"referencetext\"><em>SOURCE: Kayna via Fuller Marketing<\/em><\/p>\n<p> Tags: <a href=\"https:\/\/www.insurance-canada.ca\/tag\/cyber-security\/\" rel=\"tag\">cyber security<\/a>, <a href=\"https:\/\/www.insurance-canada.ca\/tag\/insurtech\/\" rel=\"tag\">InsurTech<\/a>, <a href=\"https:\/\/www.insurance-canada.ca\/tag\/insurtech-spotlight\/\" rel=\"tag\">InsurTech Spotlight<\/a>, <a href=\"https:\/\/www.insurance-canada.ca\/tag\/kayna\/\" rel=\"tag\">Kayna<\/a>, <a href=\"https:\/\/www.insurance-canada.ca\/tag\/platform\/\" rel=\"tag\">platform<\/a>, <a href=\"https:\/\/www.insurance-canada.ca\/tag\/saas\/\" rel=\"tag\">Software as a Service (SaaS)<\/a>, <a href=\"https:\/\/www.insurance-canada.ca\/tag\/willis-towers-watson\/\" rel=\"tag\">Willis Towers Watson (WTW)<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>US-based vertical SaaS platform Vibrant manages third-party vendor cybersecurity oversight by tracking vendor Insurance coverage directly with Carriers. Kayna\u2019s embedded insurance infrastructure set to enable WTW cybersecurity insurance distribution with continuous vendor coverage assessments&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22800"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=22800"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22800\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=22800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=22800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=22800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}