We have been a big fan of Jack Vines, CEO/founder of Measured Analytics and Insurance (AI) since I met him at an event showcasing startups in Utah. As Jack was building the team and the early product, we kept in touch. We were impressed with his thoughtful approach to become a trusted partner for enterprises and help them not only with their cyber insurance needs but also proactively work with them to prevent security incidents based on Measured’s unique intelligence platform. As they executed their vision, we decided to join in their journey and invested in Measured AI’s Seed-2.

Cybersecurity threats are an increasing challenge for any organization that relies on technology to conduct its business. Bad actors are going after everyone – federal agencies, large enterprises and SMEs, including oil pipelines and hospitals. While the shift to cloud, remote work, adoption of SaaS applications and many other innovative solutions have major benefits to businesses, they also increase attack surfaces. At a recent House Judiciary Committee hearing, FBI director Christopher Wray said “We think the cyber threat is increasing almost exponentially. Ransomware alone, the total volume of amounts paid in ransomware has tripled over the last year, we’re investigating 100 different ransomware variants.”

Along with the increased vulnerability of organizations, the cost of attacks has been going up too. We hear about costly data breaches of 10s millions of people’s private records or a ransomware incident that locks down a hospital or a large enterprise. A comprehensive cyber insurance with a preventive approach is the key to provide protection against such potential breaches. This is where Measured Insurance comes in.

We already observe a fast-growing demand for cyber insurance products. This market is estimated to triple, growing to over $20b in the next few years. Yet, most customers go through a manual process with a transactional approach today. We believe that the market reached an inflection point, requiring a comprehensive digital platform that can assess / model risk in real time. This requires processing large sets (proprietary & 3rd party) of threat intelligence and enterprise security posture data that are still relevant in the dynamic cyber risk landscape. Measured has built this product and is already seeing how well it performs in action.

Measured brings together an outstanding team of experts from intelligence agencies, security, and insurance companies. Years of experience in critical risk analysis in noisy and dynamic real world environments, and modeling such risk help the company better underwrite the cyber exposure of an enterprise. This accuracy in premiums will lead to lower prices for customers as they improve their security posture.

The team at Measured believes that increasing cyber security risks could only be addressed by a strong ecosystem of partnerships, already partnering with a key cyber insurance partner: Syndicates at Lloyd’s of London.

We are very excited to be supporting the Measured Insurance team’s vision to help enterprises in the increasingly complex cyber insurance world.