Cyber attacks and data breaches cost businesses in the United States an average of over $2 million per attack, an absolutely staggering expense that most businesses cannot afford to bear. And this cost only continues to rise as cyber attacks become increasingly prevalent and malicious tactics become all the more sophisticated, particularly in the age of AI. For insurers that do offer cyber plans, coverage is dependent on businesses having compliant and continuous cyber security defenses in place, which puts businesses in a further predicament as many don't know what they need or how to implement it.
1Fort is solving this problem head-on, building a platform that empowers businesses to easily meet these complex security requirements and is partnering with insurance brokers to reach these businesses. With 1Fort, businesses obtain a seamless experience and know they are protected and compliant all in the background of their work, while insurance brokers finally have a solution to offer customers that enables them to sell cyber coverage fairly and transparently. We’re excited to have invested in 1Fort and we believe the team is uniquely dedicated to the future of cyber resilience. 1Fort just announced its $2 million pre-seed round—read more on 1Fort’s website.