Case Study: Machine Learning Company secures affordable cyber coverage and boosts protection with Newfront

Recovering (and Improving) Coverage for a Machine Learning Company

A machine learning company faced a significant challenge after losing its cyber insurance coverage, leaving it out of compliance with key client contracts. In a difficult market, no underwriters were willing to provide quotes due to the company's handling of sensitive personal data and past claims. The company turned to Newfront for help in securing the necessary cyber insurance.

Newfront reconstructed the company's strategy and revamped its application to better tell its security story to carriers. This approach resulted in securing coverage at a 15% discount in the first year. The following year, Newfront achieved a 25% premium reduction, which allowed the client to triple its coverage from $2 million to $5 million while keeping the cost approximately the same.