CISO Global Enters into Exclusive Agreement With Fortegra

Rhea-AI Summary

CISO Global and Fortegra partner to offer cyber warranty protection for clients, introducing a new model in the cybersecurity industry. Fortegra extends product protection services to cybersecurity SaaS through an exclusive agreement with CISO Global, providing financial protection for CHECKLIGHT® technology.

Insights

Cybersecurity Expert

The strategic alliance between CISO Global and The Fortegra Group signifies a notable development in the cybersecurity industry. It represents a novel approach to mitigating cyber risk by integrating cybersecurity software services with insurance products. This partnership leverages the strengths of both companies—CISO Global's expertise in AI-based cybersecurity solutions and Fortegra's experience in specialty insurance—to offer a unique value proposition to customers.

The introduction of a $250,000 financial protection plan for CISO Global's CHECKLIGHT® technology is a significant move. It not only enhances customer confidence in the product but also serves as a competitive differentiator in the cybersecurity market. By offering a warranty on their AI-based endpoint detection and response technology, CISO Global is addressing a critical pain point for businesses—ensuring the effectiveness of their cybersecurity investments against threats like malware and ransomware.

Insurance Industry Analyst

Fortegra's expansion into the cybersecurity SaaS space through its P&C Group subsidiaries is a strategic move that aligns with the growing demand for cyber insurance solutions. The insurance industry has been grappling with the challenge of underwriting cyber risk due to its complex and evolving nature. By partnering with a cybersecurity firm, Fortegra can enhance its underwriting capabilities with more accurate risk assessments based on CISO Global's technology and data insights.

This collaboration could potentially set a new standard for cyber insurance offerings, where insurers directly engage with cybersecurity service providers to craft more tailored and effective insurance policies. Moreover, the global availability of the CHECKLIGHT® protection plan, with planned expansion to Latin America and Europe, suggests that both companies are seeking to capitalize on international markets where cyber threats are a growing concern and insurance penetration is increasing.

Financial Analyst

The exclusive agreement between CISO Global and Fortegra could have a positive impact on both companies' financial performance. For CISO Global, the warranty protection could act as a catalyst for sales growth, as businesses may be more inclined to invest in cybersecurity solutions that come with a financial safety net. This could lead to an increase in market share and revenue for CISO Global, particularly as they expand into new international markets.

For Fortegra, the move diversifies their product offerings and opens up new revenue streams. It also helps mitigate their risk exposure by partnering with a firm specializing in detecting and preventing cyber threats. The financial implications for stakeholders of both companies will depend on the adoption rate of the CHECKLIGHT® protection plan and the ability of both firms to effectively manage the associated risks.

Global cybersecurity provider and multinational specialty insurer join forces to uniquely provide cyber warranty protection for CISO Global clients

Scottsdale, Ariz., March 28, 2024 (GLOBE NEWSWIRE) -- CISO Global (NASDAQCM: CISO), an industry leader in proprietary software, managed cybersecurity, and compliance, and The Fortegra Group, Inc. (“Fortegra”), a multinational specialty insurance company, have entered into an exclusive agreement to provide product protection plans for CISO Global cybersecurity clients via Fortegra’s P&C Group subsidiaries.

Pioneering a new model for the cyber industry, Fortegra is extending its product protection services into the cybersecurity SaaS space through its deal with CISO Global. With a 45-year history of helping clients manage risk with innovative products, this move is congruent with their record of industry leadership in consumer protection.

CISO Global initially will offer $250,000 financial protection for its AI-based endpoint detection and response technology CHECKLIGHT^®, which is designed to monitor and protect a client’s cyber environment. CHECKLIGHT^® actively and continuously protects clients from malware, ransomware, and other debilitating cyber threats that can lead to data breaches.

“Partnering with CISO Global marks a forward-thinking step in both cybersecurity and insurance,” said Cooper Wallach, VP of Specialty Products and Programs at Fortegra. “It’s a fusion of our extensive specialty insurance experience and the latest technology, offering unmatched protection and showcasing our collective commitment to safeguarding digital futures.”

The new CHECKLIGHT^® protection plan program is available immediately on a global basis with current expansion planned for Latin America and Europe.

“With this exclusive agreement, CISO Global is pioneering a first in the industry,” said CISO Global CEO David Jemmett. “We are essentially providing an effectiveness guarantee to our clients that is unheard of today. Our intellectual property portfolio is unparalleled, and we are backing our belief by providing our clients with a protection plan, long used in the consumer market to ensure the quality and performance of products.”

For more information about CISO Global’s CHECKLIGHT^® protection plan program, visit https://www.ciso.inc/capabilities/platforms/checklight-security-monitoring/.

About CISO Global
CISO Global (NASDAQCM: CISO), based in Scottsdale, Arizona, is a Top #25 managed cybersecurity and compliance services provider and industry leader in proprietary software that is delivering innovative solutions through its newly developed AI and ML-powered product portfolio. The company protects the most demanding businesses and government organizations against continuing and emerging security threats and ensures their compliance obligations are being met. For more information about the company, visit CISO Global on LinkedIn, X or at www.ciso.inc.

Safe Harbor Statement
This news release contains certain statements that may be deemed to be forward-looking statements under federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements include, among others, our belief that we are an industry leader in proprietary software, managed cybersecurity and compliance; our belief that we have entered into an exclusive agreement with Fortegra to provide product protection plans for our clients; our belief that we are pioneering an industry model of protection; our belief that our intellectual property portfolio is unparalleled; and our belief in our commitment to protecting our client against security threats and ensuring their cybersecurity compliance. These statements are often, but not always, made through the use of words or phrases such as "believes," "expects," "anticipates," "intends," "estimates," “predict,” "plan," “project,” “continuing,” “ongoing,” “potential,” “opportunity,” "will," "may," "look forward," "intend," "guidance," "future" or similar words or phrases. These statements reflect our current views, expectations, and beliefs concerning future events and are subject to substantial risks, uncertainties, and other factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors include, among others, risks related to our ability to raise capital; our ability to increase revenue and cash flow and become profitable; our ability to recruit and retain key talent; our ability to identify and consummate acquisitions; our ability to acquire, attract, and retain clients; and other risks detailed from time to time in the reports filed with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the fiscal year ended December 31, 2022. You should not place undue reliance on any forward-looking statements, which speak only as of the date they are made. Except as required by law, we assume no obligation and do not intend to update any forward-looking statements, whether as a result of new information, future developments, or otherwise.

Media Inquiries: 

Janet Brumfield
Ideal PR+ for CISO Global
614.582.9636
janet@idealprplus.com

FAQ

What is the partnership between CISO Global and Fortegra about?

The partnership aims to offer cyber warranty protection for CISO Global clients, introducing a new model in the cybersecurity industry.

What financial protection does CISO Global initially offer for its AI-based technology CHECKLIGHT®?

CISO Global initially offers $250,000 financial protection for its AI-based endpoint detection and response technology CHECKLIGHT®.

What type of cyber threats does CHECKLIGHT® protect clients from?

CHECKLIGHT® actively and continuously protects clients from malware, ransomware, and other debilitating cyber threats that can lead to data breaches.

Where will the new CHECKLIGHT® protection plan program be available?

The new CHECKLIGHT® protection plan program is available immediately on a global basis with current expansion planned for Latin America and Europe.

What does CISO Global CEO David Jemmett say about the partnership?

David Jemmett states that CISO Global is providing an effectiveness guarantee to clients through the protection plan, showcasing their commitment to safeguarding digital futures.