Microsoft has entered into a partnership with cyber insurance company At-Bay to address its customers’ cybersecurity needs and reduce insurers’ own risk of loss, through increased data visibility and standardised controls.
At-Bay assesses the cyber-risk of every company it insures and provides actionable insights on how customers can improve their security posture.
Incentivising the implementation of security controls with improved policy terms and pricing has strengthened the overall security of At-Bay’s portfolio companies.
This partnership will see businesses in the United States that use Microsoft 365 becoming eligible for savings on their At-Bay cyber insurance policy premiums if they implement specific security controls and solutions, including multifactor authentication and Microsoft Defender for Office 365.
Microsoft is also actively working with At-Bay to identify additional ways to improve the digital risk exposure of its customers and proactively address vulnerabilities.
This offer will be available through At-Bay’s broker community and available for customers using any version of Microsoft 365.
Rotem Iram, co-founder and CEO of At-Bay commented: “An insurance policy is an effective tool to articulate the impact of cybersecurity choices on the financial risk of a company. By offering better pricing to companies that implement stronger controls, we help them understand what matters in security and how best to reduce risk.
“Working with Microsoft enables us to educate customers on the powerful security controls that exist within Microsoft 365 and reward them for adopting those controls.”
Ann Johnson, Microsoft’s Corporate Vice President of Security, Compliance & Identity (SCI) Business Development commented: “For cyber insurance to play a meaningful role in overall risk management, buyers and sellers need the benefit of data and clear visibility into what is covered and factors either minimising or multiplying risk exposure.
“Microsoft’s partnership with At-Bay brings important clarity and decision-making support to the market as organisations everywhere seek a comprehensive way to empower hybrid workforces with stronger, centralised visibility and control over cloud applications boosting security and productivity.”