Data from Embroker reveals a decline in concern among venture-backed startups regarding cyberattacks over the past year. According to survey results, in 2022, 20% of these startups considered cyberattacks as their top threat. This figure dropped to just 14% in 2023, indicating a noteworthy decrease in apprehension about cyber threats.
Several factors could have contributed to this downward trend in cyberattack concerns. The return to office for many companies might have played a role, as well as the perceived lack of coverage on the Russian-Ukrainian conflict. Additionally, managing recession and inflation insecurities could have diverted attention away from cyber threats.
Despite this decline among founders, it is noteworthy that investors have expressed an increase in their own concerns about cyberattacks. In 2023, 34% of investors cited cyberattacks as a top threat, compared to 24% in the previous year.
That said, following the release of this data, Embroker, the digital platform making it radically simple to get business insurance, announced two strategic partnerships. First with Dashlane, a security-first password management provider, as well as with Cowbell, a provider of cyber insurance for SMEs. With these, Embroker increases customer security through Dashlane’s industry-renowned cyber protection services and expands its cyber liability coverage by offering Cowbell Cyber insurance to its existing and prospective customers.
The partnership with Dashlane allows Embroker policyholders access to Dashlane's enterprise password management with patented, zero-knowledge encryption, ensuring the privacy of stored passwords and data. Dashlane's monitoring of the dark web further alerts Embroker customers when their information is at risk, enabling them to act promptly. This proactive approach helps policyholders maintain lower premiums by preventing breaches and avoiding the lengthy claims process.
And the integration of Cowbell's leading cyber insurance product for SMEs allows Embroker's customers to access coverage options tailored to them, complementing its existing lineup and strengthening exclusive bundle offerings. Whether customers choose an Embroker product or not, they can now secure comprehensive and bespoke cyber insurance through the platform.
“These partnerships carry us further along in our mission to provide coverage cut uniquely to tailor customers’ exact needs, at the best possible price,” said David Derigiotis, Chief Insurance Officer of Embroker. “Through Cowbell and Dashlane, we are not only able to support our customers in the event of a cyber breach, but also help them avoid one altogether. It is services like these that are shaping the next generation of insurance, making getting coverage easier and actively beneficial to those who hold policies with us.”
Derigiotis continued by saying that expanding Embroker’s ecosystem of partners and services within the ONE by Embroker platform, Embroker takes a step in building “a customer-centric, single-destination platform that serves founders end-to-end in their risk management journeys.”
Edited by
Alex Passett
