Intangic MGA launches new tool which gives companies first early warning capability for cyber breaches

CyFi™ Dashboard has correctly predicted 81% of large cyber breaches involving public companies over the past 18 months, on average 19 months prior to the breach announcement.

London, UK, 19 June, 2023 – Intangic MGA, a data science-driven London-based Managing General Agent (MGA), has announced the launch of the Intangic CyFi™ Dashboard, the first early warning tool to provide companies with data-backed predictions for cyber breaches and offer pre-breach insurance.

There are over 200,000,000 billion cyber attacks per day. While cybersecurity professionals and technology are continuously improving to effectively block these attacks, no network is airtight. No company wants to experience a large costly public breach.

Intangic developed the CyFi™ Dashboard to give companies an answer to the question, “How many attacks have not been blocked?” It has already correctly predicted 81% of large cyber breaches involving public companies, on average 19 months prior to the announcement of the breach. Using this dashboard, companies can calculate their breach and financial loss probability based on how well they block attacks relative to their peers.

Intangic MGA, which launched in March 2023 with backing from AXA XL, provides publicly-listed corporations in the UK and US with capacity for up to $15 million.

“Within the insurance market, cyber is typically modelled as a low frequency, high severity event. But we know cyber attacks can be analysed as a high frequency risk,” said Ryan Dodd, Founder and Chief Executive Officer of Intangic. “Through our new proven early warning capability, we are able to offer companies a next generation risk management program.”

“We have collected data from 200,000 companies for over five years, and we have found that companies that are the worst at blocking attacks are more likely to experience sustained financial underperformance versus peers who are better at blocking cyber threats early. Tackling cyber risk with a preventative approach is a new way to look at the problem, and that’s what we’re doing at Intangic MGA,” Mr. Dodd added.

Intangic's dashboard observes cyber attacks targeting companies at an unparalleled scale, enabling the client to see elevated risk levels within their network earlier than anyone else and mitigate the risk before it becomes a serious breach.

Ends

About Intangic MGA: Intangic MGA is a data science-driven London-based Managing General Agent (MGA). The company is a cyber underwriter, offering new insurance capacity for large corporations. Intangic MGA Ltd is an Appointed Representative of Acies Management Holdings Limited which is authorised and regulated by the FCA (FRN number 830581).

Intangic MGA’s A+ rated capacity (AM Best), is backed by AXA XL via AXA XL Insurance Company UK Ltd (AXICL). For more information, please visit www.intangicmga.com

Contacts

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Caitlin Haynes, Junior Account Director, Rein4ce