SentinelOne launches WatchTower Vital Signs Report for cyber insurers' risk management

SentinelOne (NYSE: S), an autonomous cyber security platform company, today announced the WatchTower Vital Signs Report app in the Singularity Marketplace. For organisations, this new reporting capability communicates an accurate profile of cyber security posture and controls to cyber insurers, streamlining the process of obtaining cyber insurance coverage. For cyber insurers, the app provides a real-time “inside-out” view of an enterprise’s cyber security health for improved policy accessibility and reduced underwriting risk. 

“The state of today’s threat landscape is pushing the cyber insurance industry to its breaking point,” said Barnaby Page, VP Incident Response & Cyber Risk at SentinelOne. “Underwriting risks have become too much for insurers to stomach, while rising premiums are causing enterprises to struggle in procuring cyber insurance. The industry needs better means to gauge and demonstrate exposure to cyber threats, and we are happy to collaborate with leading risk vendors to enable the WatchTower Vital Signs Report.”

The growing number of costly data breaches, ransomware and cyber incidents resulted in claim payout losses for insurers rising 300% from 2018 to 2021. Consequently, in Q2 2022, US cyber insurance prices increased 79% YOY. Between reduced carrier appetite for underwriting risk and ascending premiums, many organisations are finding it difficult to obtain coverage, regardless of security posture.

Historically, underwriters and brokers have defined organisational risk exposure using external scans, which don’t validate against cyber incidents or security controls effectiveness. SentinelOne’s WatchTower Vital Signs Report is based on an organisation’s internal risk posture and data – capturing signals that are dynamically changing and providing deep context into risk exposure.

Leveraging Ranger Active Directory, Singularity XDR’s real-time identity attack surface module, the new reporting offering assesses susceptibility to cyber threats, including unknown assets and identity exposures – two of the leading vectors for today’s security incidents. This enables cyber insurers and brokers to gain unparalleled insights for their underwriting and risk management remits – lowering loss ratios with accurate risk pricing while increasing cyber insurance eligibility, premium discounts and favourable coverage terms for organisations obtaining and renewing policies. In addition, businesses at risk of attack are provided with actionable, real-time insights to improve cyber resiliency.

Supporting quotes:

“Coalition is committed to helping organisations of all sizes and industries secure cost-effective and comprehensive cyber insurance policies. SentinelOne’s WatchTower Vital Signs Report is a much-needed step in creating a common language for organisations and insurers and encouraging transparency. Together with SentinelOne, we help organisations build resilient and multi-layered cyber security programs that prevent digital risk before it strikes.” – Michael Carr, Head of Risk Engineering, North America, Coalition.

“Corvus is pleased to partner with SentinelOne in using the WatchTower Vital Signs Report. With increased attention paid to the report’s key cyber risk indicators, Corvus can further educate and support our policyholders in understanding their unique risks and remediation tactics. We’re thrilled that, through our partnership, Corvus can be at the forefront of this important transformation in the cyber insurance market, creating even more value for our policyholders.” – Madhu Tadikonda, CEO, Corvus Insurance.

“Cowbell applauds SentinelOne for taking this giant step that benefits both SentinelOne customers and Cowbell policyholders. In collaboration with SentinelOne as a WatchTower Vital Signs Report founding partner, we are expecting to increase the efficacy of our risk pool that is continuously monitoring over 90% of US SMEs for their cyber posture. This cyber security and cyber insurance partnership is aimed to help SMEs build resiliency across the complete cyber risk life cycle.” – Jack Kudale, CEO, Cowbell Cyber.