Brief
Cyber insurers base their rates upon the existence of various cybersecurity tools, but they aren’t necessarily able to take into full account the actual performance and impact of these tools. Sophos wanted to understand how implementation of MDR (managed detection and response) impacts the cost of cyber insurance claims.
Solution
We conducted a quantitative study of cyber security decision makers and buyers, recording the cybersecurity solutions used (whether they were MDR, or a less complete solution), and comparing that to the number and value of cyber insurance claims made in the previous year. In order to be fully confident in the results and our conclusions, the data was subject to rigorous and robust statistical validation, using multi-variate regression models.
Outcome
The research was used as general research for content, but also to engage the insurance industry. Overall, the research found that MDR use had a notable impact on insurance claims and amounts, with organisations seeing clear ROI from their use of MDR in this one aspect alone (before factoring in other benefits to the business).
Read the results.
