Cork, a cyber-warranty company for MSPs that serve small businesses and their ISV solutions, announced that it will extend its protection for SMBs, from cybercrime-related financial losses in 2024. In particular, the company plans to team with MSPs to ensure that cyber-warranty becomes a “foundational part” of their customers’ cybersecurity solution stacks.
“Cork is laser-focused on our commitment to fix the broken cyber insurance market, and we firmly believe that MSPs should be a part of the solution,” said Cork CEO, Carlson Choi. “We are extremely proud of our achievements in 2023, which include the successful launch of the first MSP-centric cyber warranty offerings with proactive monitoring in North America and the alliances we have forged with MSP security providers, including Barracuda and Liongard. As we move into 2024, we aim to empower MSPs to act as the cybersecurity and cyber-attack prevention arm for their customers by continuing to increase access to our cyber warranty offerings.”
Cork currently, actively manages over 200,000 endpoints – with millions of compliance events checked daily, and hundreds detected and mitigated – through its security monitoring platform.
“Legacy providers don’t always offer solutions for MSPs and instead assume that the SMB has the expertise and resources to manage their own security and warranty operations,” added Choi. “Often, financial protection solutions don’t integrate with the SMB’s existing technology stack, making it harder to apply for and onboard. Then, if there is a security breach, the claims process can be lengthy, impacting recovery times and putting the MSP at the center of a claim investigation.”
By standardizing on Cork’s cyber-warranty as part of their cybersecurity offering, MSPs can reduce client financial loss by:
- Leveraging existing SMB security stack investment and underwriting eligible cyber-warranty customers in minutes.
- Generating new recurring revenue streams by offering cyber-warranty solutions as a business model for all parties involved.
- Providing SMBs with instant funding relief and faster claim payouts.
“Cork works directly with MSPs and their existing security stack, understanding today’s threats with our AI-enhanced cyber risk model, thereby improving our ability to counter and prevent cyber-attacks and provide the necessary immediate financial support for the MSP’s customers in the event of an attack,” added Dan Zaniewski, Cork’s CTO.
