Fintech PR
Resilience Expands Cyber Risk Management Solution to Global Clients of $10 Billion in Revenue
Underwriting success and business growth underpin expansion to some of the largest, most complex class of cyber risks
SAN FRANCISCO, Jan. 29, 2024 /PRNewswire/ — Resilience, a leading cyber risk management provider, has expanded its underwriting authority to serve large global companies with up to $10 billion in annual revenues. The expanded authorities come after a strong year of growth while achieving an industry-leading loss ratio reflecting the success in defending clients from costly cyber incidents. Through 2023, fewer than 5% of Resilience clients filed a cyber claim and have shown significantly enhanced resilience to extortion attempts.
“More important than the growth it brings, this expanded underwriting authority is validation that our model makes clients significantly safer,” said Vishaal “V8” Hariprasad, Co-Founder & CEO, Resilience. “Fundamentally, the insurance industry is organized around ‘single point-in-time underwriting’ with a ‘post-incident’ mindset. When there is a loss and a claim, insurance reacts. The Resilience model is meaningfully different, bringing continuous risk assessment, risk engineering, and ongoing threat hunting paired with vulnerability and exposure monitoring to help prevent the incident in the first place.”
Resilience has steadily increased the size of the clients it serves since its founding in 2016; initially delivering its cyber risk management solution to middle-market accounts and now to large enterprises. Recently, Resilience has expanded its client base to some of the world’s largest and most complex cyber risks.
“Since we started writing business, we’ve been named a Lloyd’s coverholder, launched a captive, expanded internationally, and our innovative cyber risk solution has led to an industry leading loss ratio,” said Mario Vitale, President, Resilience. “This increase in underwriting authority is a reflection of our approach to cyber, distinct from how the legacy market approaches this unique class of risk.”
“The feedback we’ve gotten from brokers and clients is telling. Collectively, our clients have far fewer claims than the market average – and we earned a Net Promoter Score of 77, outpacing the insurance industry average of 55 (Qualtrics XM institute),” said CJ Pruzinsky, Global Head of Underwriting, Resilience. “Our underwriting and security teams have strong backgrounds supporting our clients and we are incredibly excited to bring this same level of value to this segment of the market.”
“Resilience is a strategic partner for Intact Insurance Specialty Solutions and working alongside them we bring vital security solutions to our specialized customers and brokers,” said T. Michael Miller, CEO Global Specialty Lines at Intact. “We are pleased to see their steady progress and ability to bring their deep cyber risk expertise and solutions to the market.”
At Resilience, your risk is our risk. That’s why we offer a comprehensive cyber risk solution that provides visibility into your risks, a plan to address them, coverage to protect your company, and support to keep you ahead. See how our Edge solution helps organizations become cyber resilient to material losses at https://link.edgepilot.com/s/fb8a485f/JgLEkROJdUiV9AIT97ZnEg?u=http://www.cyberresilience.com/.
About Resilience
Resilience is the cyber risk solution company that’s on a mission to help make the world cyber resilient. Founded in 2016 by experts from across the highest tiers of the U.S. military and intelligence communities, and augmented by prominent leaders and innovators from the insurance and technology industries; Resilience helps financial, risk, and information security leaders continuously improve their organizations’ cyber resilience by connecting cyber insurance coverage with advanced cybersecurity visibility and a shared plan to reinforce actionable cyber hygiene.
Resilience is proud to be backed by leading technology investment firms including General Catalyst, Lightspeed Venture Partners, Intact Ventures, Founders Fund, CRV, and Shield Capital. With headquarters in San Francisco, Resilience’s team is globally dispersed, with offices in New York, Chicago, Baltimore, Toronto, London, and Dublin. Resilience offers insurance coverage through its licensed and appointed insurance agency and security services through its expert security team and is available through all Resilience broker partners to clients in the United States, United Kingdom, Canada, and Europe.
For more information, visit us at https://link.edgepilot.com/s/fb8a485f/JgLEkROJdUiV9AIT97ZnEg?u=http://www.cyberresilience.com/.
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Fintech PR
Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region
DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.
On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”
Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.
His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.
As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.
Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com
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DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.
Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.
Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.
Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com
About Qatar Development Bank
Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.
For more information, visit: https://www.qdb.qa/
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DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now.
In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.
Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.
AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.
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