Resilience has been awarded the Best Risk/Policy Management Solution at the 2024 SC Awards for its innovative approach to managing cyber risk through a unique combination of risk assessment and insurance. As businesses increasingly face threats like ransomware, phishing, and third-party vulnerabilities, the Resilience Solution has proven essential in helping companies not only protect themselves but also understand and mitigate risks before they materialize. This comprehensive solution bridges the gap between cybersecurity and financial risk management, ensuring that security, risk, and finance teams work together more effectively.
(For a complete list of all of this year's winners visit our 2024 SC Awards special coverage page.)
The core of the Resilience Solution is its AI-powered platform, which identifies vulnerabilities, quantifies an organization's exposure in monetary terms, and provides a customized action plan. These insights also inform the company’s cyber insurance underwriting, ensuring tailored risk coverage. This proactive, integrated approach marks a shift in how companies address cyber threats, moving beyond traditional insurance into a more dynamic risk management framework.
Resilience has enhanced its offering by introducing features such as the Cyber Risk Profile Builder and breach and attack simulations (BAS), which help organizations continuously assess their vulnerabilities and validate security controls. Additionally, through its acquisition of BreachQuest, the company has bolstered its incident response capabilities, offering rapid support during cyber crises.
In a landscape where cyberattacks are becoming more frequent and sophisticated, Resilience’s model stands out. According to industry data, 85% of its clients who faced ransomware avoided paying any ransom, compared to a 71% industry average. Moreover, none of Resilience’s clients were forced to pay a ransom following a LockBit attack in 2023, underscoring the effectiveness of their approach. With a strong customer base spanning education, healthcare, financial services, and more, Resilience continues to grow—boasting a 40% increase in gross policies from 2023. The company’s integrated solution combining cybersecurity, risk management, and insurance makes it a leading choice for businesses looking to safeguard their operations in an increasingly perilous digital environment.
(Who else won this year’s 2024 SC Awards? Visit the winners’ circle and find out.)
