30 Best CEOs of the Year 2020 30 Best CEOs of the Year 2020 | Page 74

Cysurance: Safeguarding Small and
Medium Businesses and their Partners
Through Affordable Cyber Insurance
“Our comprehensive solution safeguards small businesses against privacy breaches, identity theft, system damage, and
cybercrimes.”
C
yber insurance provides
financial assistance to
mitigate the costs of a data
breach or cyber-attack and access
to experienced experts to help
businesses and organizations with
incident response and regulatory
and legal compliance. It can protect
the insured from first-party and
third-party exposures arising
from Internet-based and general
information technology risks as well
as from potential lawsuits due to
the loss of customer or vendor data.
Given the preceding, we’re
delighted to present Cysurance.
Cysurance is the next-generation
cyber insurance solution. The
platform comes with a complete set
of features to safeguard business
continuity and insure against
losses, protecting both revenue
and recovery.
Cysurance was founded in 2018
and is headquartered in NewYork,
with offices in Washington D.C. as
well.
In Conversation with
Kirsten Bay, Cysurance
CEO and Co-Founder
What is the reason behind
the genesis of Cysurance?
How did you expand your
company and its offerings
over the years?
The Cysurance product was
created to reduce the friction and
complexity that small and medium-
sized businesses experience
when trying to adopt a cyber
insurance program. The platform
was designed to identify a breach,
provide remediation, and supply
a comprehensive insurance policy
that covers the events that most
impact SMBs, all without an
application or underwriting. It
is distributed by bundling with
lenders’ and third-party service
providers’ existing risk and
technology offerings, providing
them a competitive advantage via
a complete cyber risk solution that
complements their other products.
A well-defined mission and
vision is the secret behind
the success of many firms.’
What is your company’s
M&V statement?
Our mission is to provide the most
accessible and comprehensive
platform to protect small and
medium-sized businesses–the
lifeblood of our economy–from
the ever-growing threats of cyber-
attacks that could put them out of
business.
‘It is difficult to start a
venture, but far more
difficult to maintain it’. How
would you and your team
interpret this saying?
In the early days of a venture,
there are great challenges in
developing a concept into a clearly
articulated product offering that
potential consumers and investors
can understand. However, once
the venture has gotten traction,
maintaining the vision while
adjusting to daily operating
concerns can be one of the
“Our mission is to provide the most accessible and comprehensive
way to protect small and medium-sized businesses – the lifeblood
of our economy – from the ever-growing threats of cyber-attacks
that could put them out of business.”
74