The first-of-its-kind program awards Cyber Catalyst designations to products and services that leading cyber insurers believe can be effective against major cyber threats. In the inaugural 2019 program, more than 150 products and services were submitted for evaluation, with 17 ultimately receiving a Cyber Catalyst designation.
In 2020, insurers Allianz; AXA XL, a division of AXA; AXIS; Beazley; CFC; Munich Re; Sompo International; and Zurich North America will again participate in the evaluation and designation process.
For this year’s program, the insurers have identified what they see as the top five cyber risks in 2020: ransomware, data collection, supply chain/vendor management, cloud migration, and social engineering. Participating insurers and Marsh encourage vendors to submit products and services that target these risks, but all eligible products and services will be evaluated.
“With the Cyber Catalyst program, we are providing a significant metric to help our clients and other organizations identify cybersecurity solutions that insurers believe will really make a difference,” said Thomas Reagan, US Cyber Practice Leader, Marsh. “We look forward to showcasing more valuable Cyber Catalyst designated solutions later this year that will help even more organizations improve their cyber risk management outcomes.”
The second Cyber Catalyst program opens for product submissions on March 10, and the 2020 Cyber Catalyst designations are expected to be awarded in September. For more information on Cyber Catalyst by MarshSM, including vendor and product eligibility and application information, and to sign up to receive program updates, visit Marsh’s Cyber Catalyst webpage.