Title: AWS re:Inforce 2024 - Learn about the AWS Cyber Insurance Competency (CFS121)

Insights:

• Introduction to the Program: The AWS Cyber Insurance Partner Competency Program aims to streamline the process of obtaining cyber insurance for AWS customers, particularly small and mid-sized businesses (SMBs).
• Customer-Centric Approach: AWS developed this program based on extensive customer feedback, emphasizing the need to reduce paperwork and simplify the insurance procurement process.
• Paperwork Challenges: Both customers and insurance companies expressed frustration with the extensive paperwork involved in obtaining cyber insurance, which often leads to errors and delays.
• Resource Constraints: SMBs often lack the resources to handle security events effectively, making cyber insurance a critical support mechanism.
• Self-Service Model: The program aims to make cyber insurance as accessible as buying a Taylor Swift ticket, allowing customers to obtain quotes and policies online without extensive human interaction.
• Dynamic Data Integration: AWS leverages its data capabilities to provide real-time security information to insurers, potentially leading to more accurate and favorable insurance rates for customers.
• Educational Efforts: AWS is committed to educating both customers and insurers about the importance of cybersecurity and best practices, helping to bridge the knowledge gap.
• Streamlined Process: The program simplifies the application process by allowing customers to share their security posture data directly from AWS Security Hub, reducing the need for lengthy questionnaires.
• Comprehensive Coverage: The program ensures that customers receive high-quality, comprehensive insurance policies rather than piecemeal coverage.
• Partner Collaboration: AWS collaborates with various insurance partners, including brokers, direct insurers, MGAs, and reinsurers, to offer a wide range of options to customers.
• Continuous Improvement: AWS aims to make the program dynamic, allowing for ongoing updates to security practices and insurance policies based on real-time data.

Quotes:

• "One of the themes you'll see in this presentation is paperwork sucks."
• "If you can buy a Taylor Swift ticket, self-service, you should be able to buy insurance."
• "We want to show our AWS customers that they can be rewarded for that security by way of cyber insurance through these partners and become even more secure for their businesses."
• "The whole goal of the program really is AWS has always been so security focused."
• "Measured's mission is to make some SMEs more confident and secure in their cybersecurity so they can focus on what they do best, growing their business."
• "The comprehensive integration of data, real-time threat monitoring, and insurance is key."
• "The AWS customer experience, just to go through it, start to finish."