Business of Tech: Daily 10-Minute IT Services Insights How Cork Combines Compliance and Cyber Insurance to Safeguard MSPs and Their Clients with Dan Candee
Dan Candee, CEO of Cork, discusses the innovative approach of combining software with insurance to provide cybersecurity solutions for managed service providers (MSPs) and their clients. Cork stands out in the cybersecurity landscape by validating the compliance of all client endpoints and offering a cyber warranty that provides financial protection. This model addresses the complexities of cybersecurity, where software vendors often avoid liability for failures, leaving businesses vulnerable. Cork aims to simplify the cybersecurity landscape, integrating with existing MSP tech stacks to ensure comprehensive protection.
The conversation delves into the challenges of managing financial risk in the cybersecurity sector. Candee explains that Cork's unique technology allows them to monitor and assess risks across all endpoints, providing a clear picture of compliance and security. This proactive approach helps MSPs maintain a secure environment for their clients, ensuring that they are prepared for potential cyber threats. The discussion highlights the importance of accountability and transparency in the cybersecurity ecosystem, emphasizing that Cork's model is designed to support MSPs in their efforts to protect their clients.
Candee also addresses the issue of human error in cybersecurity, noting that a significant percentage of incidents stem from mistakes made by individuals rather than technology failures. Cork's system not only identifies these risks but also provides a framework for compliance, ensuring that clients are aware of their security posture. By offering a warranty that covers incidents resulting from human error, Cork reinforces the idea that businesses have the right to survive cyber attacks, fostering a culture of security awareness.
Finally, the conversation touches on the evolving landscape of cyber insurance, which has been described as chaotic. Candee shares insights on how Cork collaborates with insurance companies to create a sustainable model that balances risk and profitability. He emphasizes the need for continuous improvement in cybersecurity practices and the integration of automation and AI to enhance efficiency. As the industry evolves, Cork remains committed to simplifying processes for MSPs and their clients, ensuring that they can navigate the complexities of cybersecurity with confidence.
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