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In an expanding collaboration between Chubb, one of the largest publicly traded property and casualty insurance companies, and SentinelOne, a cybersecurity leader, clients of SentinelOne who are also Chubb policyholders can now share their enterprise cyber health assessment data with Chubb. This facilitates a more efficient and precise underwriting process.
With the increasing emphasis on cybersecurity investment, insurance carriers are seeking greater transparency into their insureds’ cybersecurity health. The collaboration not only offers policyholders streamlined access to SentinelOne’s cybersecurity solutions, but also enhances transparency into policyholders’ cyber health investments through SentinelOne’s Vital Signs Report.
This post captures a Q&A between Craig Guiliano, SVP of Threat Intelligence and Policyholder Services at Chubb, and Bridget Mead, Senior Manager of IR Cyber Risk at SentinelOne, as they address some frequently asked questions about the Vital Signs Report.
Q: What is the Vital Signs Report?
Chubb/Guiliano: The Vital Signs Report (VSR) is an assessment of our policyholders’ cybersecurity posture. This report is going to be a game changer for not only how we, as the carrier, assess our individual policyholder’s cybersecurity health, but for our ability to assess our portfolio exposure as one of the world’s largest insurance companies. Our underwriters are quickly moving away from checkboxes on a questionnaire and moving towards data-driven policy renewal decisions.
SentinelOne/Mead: The VSR is based on a collection of internal signals that we mapped to the Center for Internet Security’s (CIS) Critical Security Controls (CIS Controls) CIS18 framework. We make the report available to all SentinelOne clients at no charge. It displays the strength of a client’s digital environment in areas important to cyber security and the cyber insurance underwriting process. The graphic below shows the major categories included.
Q: How do clients access this report?
SentinelOne/Mead: We’ve made it easy for Chubb policyholders to share this report with Chubb. It’s just a few clicks away. Clients can access the VSR report by going to the Singularity Marketplace page and selecting the Cyber Insurance menu item. From the Cyber Insurance menu, they can select Chubb and consent to the sharing via an End-User License Agreement (EULA). Chubb will be notified on their end that the report has been shared.
Chubb/Guiliano: Once we receive the VSR on our end, our policyholders will be able to view the report with their insurance brokers and Chubb underwriters. We’re expecting more transparent and robust conversations around loss control strategies with our policyholders that share this data with us. In addition, participating policyholders may enjoy incentivized policy pricing, subject to applicable insurance laws and regulations, and more efficient underwriting.
Q: What happens after the SentinelOne client clicks through the EULA?
SentinelOne/Mead: From a technical perspective, once the SentinelOne client does the EULA click through, the VSR examines the client’s SentinelOne console, collects the appropriate data signals, and populates the report.
Chubb/Guiliano: The VSR will be available to view by Chubb in near real-time, allowing efficient and timely feedback to policyholders, brokers, and underwriters. Chubb and SentinelOne have also worked to minimize the sensitivity of the data being shared with Chubb. We omit any sensitive information, including IP addresses associated with identified vulnerabilities.
Q: How can the VSR help organizations with risk transfer?
Chubb/Guiliano: Traditionally, our underwriters use a series of questions and attack surface information to evaluate a policyholder’s risk. They might also pull historical data from claims that the policyholder has submitted. However, this kind of risk assessment doesn’t give us the full picture and could include false positives. The VSR provides a clearer and more accurate and efficient mechanism for our policyholder’s Security Teams to communicate information and controls to our underwriting teams.
The report will reduce the time and overhead that our policyholder’s spend. Additionally, it gives the policyholder a chance to think critically about their cybersecurity through access to Chubb’s expertise on risk of loss indicators, such as known vulnerabilities and common attack vectors – expertise that is based on 20+ years of actual loss data.
SentinelOne/Mead: The VSR helps organizations with their risk transfer by bringing visibility to their telemetry. SentinelOne has configured and crafted the VSR to identify vulnerabilities, configurations, and asset management controls with Chubb’s review to help policyholders proactively identify exposures. The information provided by the VSR will enable the policyholders to remedy elements that may need improvement, enhance their cybersecurity posture, and ultimately lower risk profiles. The VSR allows policyholders to discuss renewals more confidently with Chubb and brings more transparency to those conversations.
Q: What benefits may accrue from participating in the VSR Program?
SentinelOne/Mead: From a technical perspective, the VSR is an accurate and efficient way to assess a company’s cyber security posture. Current SentinelOne clients can look at the VSR and craft clear action items to enhance their use of our tools.
Chubb/Guiliano: Any benefit to our policyholder’s risk profile is a benefit to Chubb at-large and we’re eager to see our policyholders develop greater insight into their cyber risk profile and thus gain more informed negotiating power within the cyber insurance marketplace and possible premium savings.
Learn More
On May 2, 2024 at 1:00PM ET, join SentinelOne, Chubb, Aon, and CyberAcuView for a webinar discussion on data-driven underwriting. Panelists will discuss how data has transformed underwriting and insurability assessments as businesses work with their carriers and brokers to improve their risk profiles.
Chubb Disclosure: Chubb is the marketing name used to refer to subsidiaries of Chubb Limited providing insurance and related services. For a list of these subsidiaries, please visit our website at www.chubb.com. Insurance provided by ACE American Insurance Company and its U.S. based Chubb underwriting company affiliates. All products may not be available in all states. This material contains product summaries only. Coverage is subject to the language of the policies as actually issued. Surplus lines insurance sold only through licensed surplus lines producers. The material presented herein is advisory in nature and is offered as a resource to be used together with your professional insurance advisors in maintaining a loss prevention program. It is not intended as a substitute for legal, insurance, or other professional advice, but rather is presented for general information only. You should consult knowledgeable legal counsel or other knowledgeable experts as to any legal or technical questions you may have. Chubb, 202 Hall’s Mill Road, Whitehouse Station, NJ 08889-1600
