Cybersecurity platform vendor Todyl recently announced a partnership with SPECTRA, a next-generation cyber insurance and risk management platform, to transform how small- and medium-sized businesses (SMBs) access cyber insurance with a simplified certification process, access to preferred coverage programs, and warranty-backed security guarantees.
Certification program addresses MSPs’ needs in solving client challenges
The two organizations have established the Todyl SPECTRA Certification Program to transform MSPs’ ability to solve cyber insurance challenges for their clients.
SPECTRA’s streamlined three-step certification process validates the vendor solution first, followed by the MSP, and then the client’s implementation to simplify and accelerate insurance procurement through top-tier broker and insurance partners recognizing SPECTRA certification and related risk management data.
“Traditional approaches to assessing cyber risk rely heavily on questionnaires or external scans that lack necessary context, creating challenges across the insurance ecosystem. Insurers struggle to accurately quantify risk, MSPs face pressure and challenges aligning client security programs with complex policy requirements, and businesses frequently encounter substantial gaps between their expectations and policy realities when incidents occur,” said John Nellen, Founder and CEO of Todyl.
SPECTRA’s innovative approach combines security posture, internal controls, capabilities, and industry-best practices to efficient insurance access. This eliminates cumbersome questionnaires and workflows that traditionally burden MSPs and their SMB clients.
“SPECTRA’s certification-based approach benefits the entire ecosystem by providing insurers with validated data about security implementations, enabling more accurate risk assessment,” said Nellen. “Using Todyl, MSPs can better protect SMBs with robust security practices, and this partnership ensures those efforts are properly recognized in the insurance process. We’re proud to partner with SPECTRA to help MSPs demonstrate the effectiveness of their security services.”
Program built to reduce complexity and protect MSPs
The Todyl SPECTRA Certification Program will address flaws in the current cyber insurance model by:
- Offering service warranty protection: MSPs can differentiate their security offerings by including robust warranty-backed services with clear, tangible financial guarantees to deliver increased confidence, trust, and a comprehensive advantage in the marketplace.
- Eliminating complex questionnaires: Certified MSPs help clients bypass the strenuous technical questionnaires typically required for cyber insurance.
- Accessing preferred coverage programs: Clients gain access to policies backed by institutional carriers, including Lloyd’s of London syndicates, with straightforward terms and fewer exclusions, reflecting their investments in security.
- Reducing premiums: Clients will have secured premium reductions up to 36 percent– even in high-risk industries– or customers with incident history, including those who were previously denied coverage.
- Efficient procurement: Insurance quotes get delivered through broker partners in 24 hours or less compared to sometimes weeks or months through traditional channels.
The certification program is available to Todyl partners who implement the company’s security stack, including SASE, SIEM, MXDR, Endpoint Security, and GRC modules, along with email security and backup solutions.
“The cyber insurance industry has been operating with a fundamental data gap– unable to effectively assess risk without visibility into how security is actually implemented and managed,” said Edouard von Herbstein, Founder and CEO of SPECTRA. “By partnering with Todyl, we’re creating trust between the insurance industry and MSPs, enabling insurers to better understand and price risk while helping businesses secure the protection they need.”
The results that MSPs and their clients are seeing from the program include:
- One U.S.-based MSP serving high-risk industries secured a 36 percent premium reduction after being declined coverage by a market-leading carrier.
- Another larger international research organization secured comprehensive coverage after being rejected by leading carriers.
- Additionally, one U.K. MSP with over $100 million in revenue reported 98 percent client uptake for warranty-backed services, with 90 percent citing it as a key differentiator.
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