SMB True or False: “Our security services will get you x% discount from cyber insurance?”

There has been a steady stream of cybersecurity providers, MSSPs, MSPs, and other vendors claiming their processes or tech can lead directly to special discounts on cyber insurance. The Beltex team is frequently asked “is this real?”

With a few exceptions, most of these are marketing as best, but dishonest on some level. Typically these companies are working with an insurance agency/agent who is mapping their product against carriers’ standard application, and then making the claim for a discount based off that.

So what is the real story?

• Most of these are partnerships with an insurance agency, and getting you the same policy everyone else gets. There may be discounts, but they are merely for checking the box for a specific type of security control, not for a specific product or tech.

• In the event that a discount is being provided specifically for a product or technology, look for a press release or page on the website of the carrier themselves. Very few carriers will build or present any kind of discount without wanting to market it aggressively.

Does it even matter?

Probably not. Good security is good security, and a discount for a policy usually emphasizes the importance of a particular control.