Insurance Times Awards 2022: CFC Underwriting ‘takes on cyber criminals on behalf of customers’

Explain briefly about your entry in the Customer Champion of the Year - Insurer category.

Our cyber threat analysis team is dedicated to identifying new cyber threats, alerting our cyber customers and preventing them from falling victim to an attack.

We’re taking on cyber criminals on behalf of our customers that don’t have the resources to do so themselves.

While large businesses have the resources to ensure the best level of cyber security possible, SMEs are unlikely to be able to afford this. Their weaker defences make them more vulnerable. Our goal was simple - champion their cause and prevent claims that would otherwise be guaranteed to occur.

Using a range of internal and external intelligence feeds, we monitor our cyber customers’ internet presence and identify potential vulnerabilities and signs of compromise to their business.

Using the CFC Response app, we proactively alert those at risk and help to remediate the issue before it turns into a claim.

What do you think makes your entry stand out or different from your competition?

Other cyber insurers also scan their customers for vulnerabilities on their networks, but only CFC detects customers that have actually suffered malware infections.

We’re doing this for every cyber customer, every day – for free. Preventing a claim before it can happen means there is no deductible and zero impact on customers’ premium.

What would winning this award mean to you and your firm?

It would make the long hours stopping cyber criminals from taking advantage of vulnerable customers all the more worthwhile.