Kaseya has integrated the Kaseya Compliance Manager compliance process automation platform into Cysurance cyber insurance policies underwritten by Chubb, according to a prepared statement. In doing so, Kaseya and Cysurance provide MSPs with a joint service to help businesses manage regulatory and online risks.
MSPs can leverage the Kaseya-Cysurance joint service to provide cyber incident remediation and reimbursement, the companies said. In addition, MSPs can use the service to help businesses comply with data security mandates.
Furthermore, the Kaseya-Cysurance joint service allows MSPs to bind cyber insurance policies up to $2 million for businesses, without applications or underwriting, the companies stated. The service also enables an MSP to scan an insured business' network, record any anomalous activity and trigger a smart contract that initiates a covered breach response team to begin remediation after a cyberattack.
A Closer Look at Kaseya Compliance Manager
Kaseya Compliance Manager provides a process automation platform for GDPR, HIPAA and cyber insurance, the company indicated. It helps MSPs automate and simplify compliance and offers several modules for various standards.
MSPs can deploy Kaseya Compliance Manager to help businesses automate compliance processes and generate reports that document compliance, the company said. As such, MSPs can use the platform to help businesses secure their data and systems and avoid compliance penalties.
What Does the Cysurance Partnership Mean for Kaseya?
Kaseya's overall software platform includes IT management and business automation tools designed for both MSPs and IT professionals. The company has made multiple acquisitions in recent years. CEO Fred Voccola earlier this year told ChannelE2E that another acquisition was in the pipeline.
Still, organic growth has also been key to the company. Kaseya's annual bookings surpassed $300 million last year, and the company had an organic growth rate of roughly 30 percent during the year. The growth pushed Kaseya's valuation to $2 billion at the close of 2019. Admittedly, we don't know if or how the coronavirus pandemic and its impact on business will influence Kaseya's valuation going forward.
Additional insights from Joe Panettieri.