Safe Security, global leader in cybersecurity and digital business risk quantification management, announced today that Steven Schwartz, Vice President of Insurance and Underwriting, will be a speaker at the 2022 Insurtech Insights Americas event. Taking place on May 25-26, 2022 in New York City, Insurtech Insights connects industry leaders and decision makers with innovative startups who are challenging the insurance market to create mutual business opportunities and accelerate growth.
On the first day of the event, Schwartz will serve as a panelist for the session, “Underwriting in a World with Growing Cyber Threats,” joining Hilario Itriago of Boxx Insurance, Charles Pruzinsky of Resilience, and Shawn Ram of Coalition. He will also moderate the panel, “The Underwriting Technologies Insuring the Uninsurable”. Schwartz brings to the event a unique perspective on innovation needed to alleviate cyber insurance market constraints with trust and transparency.
For more information about these sessions and the full agenda, click here.
When: Wednesday, May 25, 2022 at 4:15pm
What: Underwriting in a World with Growing Cyber Threats
The increase in digital transformation during the pandemic has left companies more exposed than ever to ransomware attacks, leading to growing costs for insurers. This panel will discuss how underwriters can successfully price for cyber risks and how insurers can work with customers to reduce their exposure to these risks.
When: Wednesday, May 25, 2022 at 5:25pm
What: Underwriting in a World with Growing Cyber Threats
Many people have been excluded from coverage due to being deemed too “risky”. However, new data and technology is allowing and helping underwriters reconsider what can be insured. This panel will cover how insurers are making their products fairer and more accessible to customers.
Who: Steven Schwartz, Vice President, Insurance and Underwriting, Safe Security
Steven Schwartz is a recognized expert in cyber insurance and underwriting, and is currently focused on pioneering digital risk quantification. In his current role at Safe Security, he is responsible for developing and executing Safe’s insurance strategy, underwriting approach and criteria, and insurance policy innovation needed to alleviate the cyber insurance market constraints with trust and transparency.
Prior to Safe, Schwartz had two successful exits as a leader in technology start-ups, most recently as the VP of Strategy and Insurance for Cytegic, a cyber risk quantification company acquired by Mastercard in June 2020. He has personally managed and negotiated enterprise insurance programs in excess of $100M in Annual Premium advising F2000 entities across 40 countries as a Senior Managing Consultant and SVP of Business Development. As a Managing Director at one of Silicon Valley’s elite tech-company CEO coaching firms, CEO Quest, Schwartz worked with venture capital funds in advising their portfolio member CEOs towards accelerated growth within the insurance industry.
Schwartz is on the Advisory Board at PACE University’s Seidenberg School for Computer Science and Information Security, and is a co-founder of both The Data Union and Personal Data Week, introducing the topic of “personal data” and its implications for society, industry, and regulation such as GDPR, CCPA, NYDFS and more to more than 30k global members. He was nominated to NYC’s 2017 “33 Under 33” and currently holds his Investment Advisor License (Series 65) and Property, Casualty, Health and Life Insurance licenses.
About Safe Security
Headquartered in Palo Alto, California, Safe Security is a leader in “Cyber security and Digital Business Risk Quantification Management” (CRQM). It helps organizations measure and mitigate cyber risk in real-time using its ML enabled API-first SAFE platform. It automatically aggregates signals across people, process, and technology, both for first and third parties to dynamically predict the breach likelihood (SAFE Score), dollar value at risk, and a prioritized list of recommendations for the security team.
The SAFE scoring model is built as joint research at MIT that incorporates cyber security sensors data, external threat intelligence, and business context and places it together in a Bayesian Network of a Supervised Machine Learning scoring engine to give out scores and dollar value risk that the organization faces. The scores are calculated both at a macro and micro level and can also be measured for particular Lines of Business / Crown Jewels / Departments.
The SAFE Score enables organizations to have a “common language” across teams, from the board all the way down to an analyst to be aligned with a consistent risk metric along with justifying investments in cybersecurity and purchase of cyber insurance for the organization.
