JLT Specialty Insurance Services Inc. and Keeper Security, a password manager and digital vault, announced a partnership designed to offer clients an industry-leading tool to protect confidential and private information and improve their underwriting risk profile.
The partnership will further a dual goal of preventing data breach loss and improving cyber insurance results through password management and is the first of a series, creating a select group of advisors and technology providers, to develop and implement best-in-class solutions to manage and mitigate cyber risk, said JLT in a statement.
JLT Specialty USA’s Cyber and E&O practice and Keeper are the first members and will work together to redefine data security programs with increased password security services that will improve cyber coverage and pricing.
“Data security continues to be one of the biggest vulnerabilities companies face and is something that is always on the minds of CTOs and IT professionals,” said Pat Donnelly, president and deputy CEO of JLT Specialty USA. “We know that a huge percentage of all breaches are due to weak employee passwords and that our clients are looking for tools to address this vulnerability. Keeper’s password manager and digital vault solution are simple, convenient and secure tools that manage passwords and other sensitive information and will be an invaluable offering to our clients.”
“As more and more companies turn to cloud-based applications and utilize mobile products, they are increasingly vulnerable to hacking and phishing attacks,” said Darren Guccione, CEO and co-founder of Keeper Security. “JLT Specialty USA has a unique perspective on security risks and truly understands the dangers its clients face each day if they go unprotected, which is why their business model so perfectly aligns with what we offer. We look forward to working closely with JLT Specialty USA as we continue on our mission to keep our clients’ data safe.”
This announcement comes as JLT Specialty USA continues its strategy in expanding its US capabilities around key specialty areas of energy, technology, construction, real estate, private equity and financial institutions and aerospace. JLT is the only broking team to house credit, political and security risk capabilities in one seamless team, offering clients a full spectrum of risk assessment and mitigation options for their assets, including contractual, investment, physical assets or people.
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