Montreal-based CyberTech startup Inscora has raised $2 million in a new funding round. The cyber technology company provides automated cyber risk assessment and sales enablement solutions to cyber insurance brokers. Gabriel Tremblay, a serial cybersecurity entrepreneur, Pierre-David Oriol, and Guillaume Raymond co-founded Inscora to enable insurance brokers with a next-generation cyber brokerage approach.
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What is Cyber Brokerage?
Cyber brokerage is a specialized activity in the cyber insurance industry. A cyber brokerage firm appoints a broker as an intermediary between the clients and cybersecurity service providers. This role involves assessing the company’s cyber risk posture and formulating a strong cybersecurity framework with best practices. Cyber insurance brokers have emerged as key players in accelerating cyber insurance application workflows, assisting clients with better user experience, reduced downtime, and higher revenue generation.
In recent years, the role of cyber insurance brokers has changed significantly. Leading cyber insurance brokers provide various services, including consulting for data forensics, incident management, ransom payment, data recovery, network security liability, and others.
Inscora’s CEO and Co-founder Gabriel Tremblay said, “We have spent our careers developing products that help organizations protect themselves against cyber attacks. Inscora represents a unique opportunity to apply this expertise to the ever-evolving field of cyber insurance and improve the efficiency of insurance brokers as well as the security posture of insured clients. We are thrilled to have the support of such esteemed investors to help us now go to market.”
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The latest funding round for Inscora will enable the company to simplify the cyber insurance purchasing cycles. While organizations seek stronger security measures and tools to mitigate the ever-evolving threats, cyber insurance brokers such as Inscora can make the industry safer and more resilient.
