Bermuda Insurance Leader Dan Rance Joins Resilience to Accelerate Move Upmarket
Hire is key to expansion bringing Cyber Resilience model to large enterprise customers
SAN FRANCISCO, Jan. 25, 2023 /CNW/ -- Resilience, the next-generation cyber risk solutions company, is proud to announce that Dan Rance will be joining as Head of Resilience Bermuda and Global Head of Large Accounts to help accelerate delivery of their Cyber Resilience solution for large enterprise customers. With loss ratios less than half the industry average, record growth doubling 2021 business, and expansion of underwriting authorities to serve enterprises up to $7.5 billion in revenue, this Cyber Resilience approach has proven highly successful at helping mid-market companies manage their cyber risk holistically. Rance will support the development and launch of this solution into the large enterprises account space.
Rance brings over 14 years of experience in the Bermuda market, most recently serving as Liberty Specialty's Head of Financial Lins for Bermuda. In this role, he grew a portfolio of excess liability business, serving a client base of Fortune 500 organizations. His hiring will help Resilience secure capacity to support large enterprise clients who are seeking a more sophisticated risk transfer and mitigation solution than is available in either the security or insurance markets today.
The Resilience solution provides advanced cybersecurity visibility and actionable cyber hygiene recommendations connected to accountable risk transfer. This holistic approach of leveraging insurance with technical cybersecurity visibility helps ensure that clients are resilient to extortion attempts and is supported by claims data showing that Resilience insureds are half as likely to need to pay ransomware extortions.
"Resilience was built to fit a critical need for sophisticated enterprises who require a continuous solution to simplifying and holistically managing their cyber risk," said Vishaal "V8" Hariprasad, Resilience CEO. "After successfully launching this new model in the mid-market space, we are excited to bring on talented leaders like Dan who will help us secure the capacity to provide the insurance side of the equation to large enterprise customers."
"With our recent expansion of underwriting authorities extending to companies of $7.5 billion in revenue, Resilience is excited to further expand its model to larger enterprises," said Mario Vitale, President of Resilience Cyber Insurance Solutions. "Dan has the proven track record as a leader in the Bermuda market to help us accelerate our growth into larger accounts and deliver on our vision of moving the entire market towards a Cyber Resilient approach."
"There is a huge opportunity to shift how insurance is connected with how cyber risk is managed," said Rance. "This will require more creative capacity solutions than exist in the market today. Bermuda has been a leader in innovation in the cyber insurance market and I am incredibly excited to join the Resilience team in leading their efforts to grow into the large enterprise space."
Resilience has seen that the strongest companies align their technological investments with financial understanding of the most critical risks to their enterprise. Their move into the large enterprise space is powered by early investments in scalable security integrations and risk assessment modeling technology that quantify and reduce risk in complex enterprise networks.
Rance holds a Bachelor of Business Administration from Mount St. Vincent University, in Halifax, Canada, along with the CPCU, RPLU, ARM, and ARe designations. He will report to Mario Vitale, and will be based in Resilience's Bermuda offices.
Resilience helps middle-to-large market enterprises connect their cyber insurance coverage with advanced cybersecurity visibility and actionable cyber hygiene. Their recently launched new website (www.cyberresilience.com), and campaign, titled "Rewriting the Rules of Risk"; advocate a unique approach to the integration of technology, economics, and behavior to break down barriers between risk management, information security, and financial leaders.
Resilience is proud to be backed by leading technology investment firms including General Catalyst, Lightspeed Venture Partners, Intact Ventures, Founders Fund, CRV, and Shield Capital. With headquarters in San Francisco, Resilience's team is globally dispersed, with offices in New York, Chicago, Baltimore, Toronto, and London. Resilience offers insurance coverage through its licensed and appointed insurance agency and security services through its expert security team.
For more information, visit us at www.cyberresilience.com.
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