Winners unveiled for Intelligent Insurer’s Cyber Insurance Awards USA 2024

Intelligent Insurer is delighted to announce the winners of its inaugural Cyber Insurance Awards USA 2024.

This prestigious awards programme was designed to recognise the exceptional contributions of individuals and organisations that have significantly elevated the standards in managing and insuring cyber risks. Companies, teams, and individuals from across the US cyber insurance sector submitted hundreds of nominations across various categories, designed to encompass as many aspects of the market as possible. The team at Intelligent Insurer meticulously reviewed all entries and selected the finalists for the 19 categories featured this year.

Congratulations to all the winners and highly recommended prizes.

Cyber Insurance Carrier of the Year
Winner: Tokio Marine HCC–Cyber and Professional Lines Group

The judges particularly liked the depth of expertise and 24/7 breach response. There were several references to the new policy language being used, explained and well-received by the market and noticeable investment in the past 12 months.

Highly Commended: AXA XL

Cyber Underwriting Team of the Year
Winner: Mosaic Insurance 

A particular mention was made about Mosaic’s partnerships and investment to dive deeper into the underwriting process. A fast-growing team, which is innovative and very strong and continues to move the needle as adoption increases.  

Highly Commended: Crum & Forster

Cyber Claims Team of the Year
Winner: CFC

Judges particularly liked CFC’s technical vs legal approach as well as a very low declination rate. Quick response times and a comprehensive offering at scale, which goes beyond the claim process, were also highly regarded.

Highly Commended: Coalition, Inc.

Cyber MGA of the Year
Winner: CFC

The judges commented on the size (including resources and tools) of CFC and its positive impact on the industry. Innovation, which was also a key point, spans a wide array of areas such as underwriting, technology, identifying issues and others.

Highly Commended: Resilience

Cyber Insurance Broker of the Year
Winner: CRC Group–INSUREtrust

The judges liked the driven and focused approach of CRC Group within cyber. A great level of expertise and concentration on innovation specific to this industry. A real focus on client emphasis was also referenced. 

Highly Commended: Aon

Cyber Reinsurance Broker of the Year
Winner: Guy Carpenter

Judges commented that GC seemed to be working more closely with the reinsurance market clients in the past 12 months, there was a mention of “CatStop+” and coverage of the North American market.

Highly Commended: Aon Reinsurance Solutions

Cyber Reinsurer of the Year
Winner: Munich Re

The judges all agreed that the eventual winner best matched the criteria and definition of the category from both the judges’ own experience and the submission.

Highly Commended: Liberty Mutual Reinsurance

Cyber Insurtech of the Year
Winner: CyberCube

The judges commented on the large adoption/penetration of CyberCube within the cyber insurance market. They commented on CyberCube having built a transparent and broad technology from the ground up.

Highly Commended: Moody’s

Cyber Insurance Technology Provider of the Year
Winner: MOXFIVE

Specific mention was made of how well the winner deals with technical and complex problems in a very efficient way. Reference to how well they cater to client needs, particularly a wide range of the market in incident response were also determining factors.

Highly Commended: CyberCube

Cyber Risk Management Team of the Year
Winner: CRC Group–INSUREtrust

There was a particular mention of the broad impact of the winner’s offering. Other than this, the judges generally agreed that CRC Group—INSUREtrust was the one which best fitted the category description in a combination of the judges’ experience and the submission. 

Highly Commended: Crum & Forster

Cyber Insurance Incident Response of the Year
Winner: Arctic Wolf

Great job with big companies and managing general agents, getting on panel. Great expertise on ransomware and a responsive team with very positive reviews across the market. They seem to have made significant progress in the past 12 months. Very comprehensive offering. This was an extremely close decision.

Highly Commended: Surefire Cyber

Cyber Security Consulting Services Team of the Year
Winner: MOXFIVE

Particular mention was made about MOXFIVE’s growth in the past five years, how it has scaled effectively and increased its presence in this space. The team’s response time, proactivity and overall work on the incident response side were also key to the decision.

Highly Commended: Marsh

Cyber Security Solution Provider of the Year
Winner: Darkweb IQ, Inc.

The judges made particular reference to Darkweb IQ taking a unique, solution-driven approach to a specific problem. Coming from a motivated and knowledgeable position, the team has created a fresh-thinking, unique business model to address a very challenging issue. The particular offering was complimented for having broad impact within the cyber insurance industry.

Highly Commended: Coalition, Inc.

Cyber Law Firm of the Year
Winner: The Beckage Firm

The judges made particular mention of The Beckage Firm’s cutting-edge approach with technologists and lawyers and its service offering, in addition to the traditional law firm/breach coach approach. Strength within the AI/technology landscape, forward-thinking and innovation were also mentioned.  

Highly Commended: Mullen Coughlin

Cyber Insurance SME Initiative of the Year
Winner: ProWriters

There was a lot of emphasis on API integration, AI, shifts towards digital and data visibility and Pro Writers was marked as leading the field in these elements, which are really important in the SME space. There was also mention of its understanding of the need to focus on educating on the “ease of use” and “accessibility” of the tools they are developing. 

The judges noted that while Pro Writers is leading the field, a small group is focusing in the right areas, including the highly commended CRC Group–INSUREtrust.

Highly Commended: CRC Group–INSUREtrust

Cyber Legend
Winner: Meredith Schnur, US & Canada Cyber Practice Leader–Marsh

Judges commented that Meredith Schnur was a deserving winner of this award as someone who helped get the industry on its feet, fortified it and carved out its space. In addition they referenced the efforts and courage required to evolve the coverage as the needs have evolved. There was also mention of her being an integral part of the next generation through supporting their development. 

Highly Commended: Robert Parisi, Head of Cyber Solutions North America–Munich Re

Cyber Insurance Mentor of the Year
Winner: Robert Parisi, Head of Cyber Solutions North America–Munich Re

A very worthy winner but very difficult for the judges to differentiate between first and second (and other very strong candidates). There were some personal mentoring experiences with some of the candidates. Robert Parisi was one of those who spearheaded what the cyber insurance market is today, made it interesting and appealing to those who needed to pay attention in its infancy. 

There was also mention of his paving the way for those who followed closely behind him as the industry grew and benefited from his leadership.

Highly Commended: Yosha DeLong, Global Head of Cyber–Mosaic Insurance

Rising Star in Cyber Insurance
Winner: Brittany Baker, VP & Head of Solution Consulting–CyberCube

The judges commented on Brittany Baker’s work on insurance-linked securities/cat bond projects, believing that modelling is vital to the future and noted that it lends to the innovative nature of this category. It is impressive to see someone less well-known in the industry working on these specific elements.  

Highly Commended: Andrew Luskin, Assistant VP–CFC

Inspiring Woman in Cyber Insurance
Winner: Lauren Winchester, SVP, Risk Advisory–Corvus Insurance

Judges commented on Lauren Winchester’s innovative and dynamic approach, always with a fresh perspective and thinking outside the box with a keen focus on insight. She continues to be a pivotal part of Corvus’s development and growth and a strong innovator both previously and currently. Empowering and supporting women in the industry, bringing people together and being influential were also key elements.

Highly Commended: Catherine Lyle, SVP & Head of Cyber Claims & Incident Response teams, Tokio Marine HCC–Cyber and Professional Lines Group

Special Recognition in Cyber Insurance
Winner: Timothy Zeilman - VP, Global Product Owner, Cyber - HSB

Highly Commended: Michael Phillips - Cyber Practice Leader, USA - CFC

The Awards process

After receiving hundreds of entries, the Intelligent Insurer team announced the finalists in 19 different categories on July 19, 2024. 

The entries from the finalists were judged by a panel of industry experts who met during June and July to deliberate together who should win each category. To ensure that the final decisions were unbiased, Intelligent Insurer did not place judges deemed to have a conflict of interest in a category. 

For more information, contact:

Mark Lilley
Awards Research Lead
Newton Media Ltd.
Email: mlilley@newtonmedia.co.uk