How KYND Simplified Cyber Risk Management for Washington Schools

In today’s digital world, cyber risks are an ever-present concern, especially for educational institutions that often have limited resources and expertise to tackle these challenges.

Understanding the Challenge

WSRMP needed a partner that could not only bridge the gap between members and insurance carriers but also help school districts understand their cyber risks and vulnerabilities. The primary challenges included:

• Complex and Lengthy Application Process: Many of the terms used in cyber insurance applications were difficult for non-experts to understand, leading to frequent clarifications and delays.

• Increased Liability Risks: Incorrect advice and a lack of clarity could lead to increased liability for WSRMP, threatening both financial stability and credibility as a trusted advisor.

• Market Fluctuations: Fluctuating insurance markets made it difficult to secure comprehensive coverage, leading to higher costs and more restrictive terms.

KYND’s Solution: Making Cyber Risk Manageable

KYND joined WSRMP’s cyber crisis committee, bringing expertise in making complex cyber risks easy to understand and manage. The KYND team implemented a proactive approach, including:

• Monitoring and Assessment: KYND provided immediate monitoring for vulnerabilities across the pool, assessing risks, and developing tailored recommendations for mitigation.

• Member Engagement: KYND unlocked WSRMP's ability to work closely with members to guide them through the cyber insurance application process, improving the accuracy and quality of responses. This engagement ensured members fully understood their risks and were equipped to address them proactively.

• Enhanced Transparency: By providing a comprehensive view of member risk, KYND helped WSRMP improve data integrity, aiding in more informed decision-making for insurance renewals and resource allocation.

Key Results: Significant Savings and Better Coverage

KYND’s partnership with WSRMP yielded substantial benefits in five key areas:

• Cost Savings: WSRMP realized significant premium savings, with nearly half a million dollars saved over two years. The partnership also reduced member deductibles by hundreds of thousands of dollars, easing financial pressures.

• Better Coverage: By helping members improve their cyber resilience, KYND enabled WSRMP to secure increased coverage at lower costs, with flexibility that allowed members to adjust their coverage tiers as needed.

• Flexibility in Insurance Options: KYND’s work dramatically reduced cyber insurance risks, providing WSRMP with greater leverage in the market and more options from carriers.

• Education and Proactive Risk Management: KYND expanded members’ understanding of cyber threats, equipping them with the knowledge and tools to mitigate these risks proactively. This proactive stance has led to a noticeable reduction in both the frequency and severity of cyber incidents.

• Strengthened Trust: The partnership strengthened trust between WSRMP and its members, as schools felt more supported and confident in managing their cyber risks with KYND’s dedicated team and accessible support.

A New KYND of Partnership

The collaboration between KYND and WSRMP highlights the power of a true partnership in cyber risk management. KYND’s intuitive alerts and expert guidance have embedded a culture of cyber risk awareness in the day-to-day activities of WSRMP members, ensuring that cyber applications are completed accurately and promptly, and bridging the knowledge gaps between members and carriers.

Cyber risk mitigation is not a one-time fix—it requires ongoing support and education. KYND’s partnership with WSRMP exemplifies how the right approach can simplify cyber risk management, reduce costs, and improve coverage, all while building trust and confidence among members. If you’re looking to deliver stable rates and comprehensive coverage to your organization, consider how KYND’s innovative solutions can help you achieve these goals. Schedule a demo today and see the difference a new kind of cyber risk management can make.