Cloudflare partnering with insurance cos

It is CIO week at Cloudflare and things are happening. There is a piece on BusinessWire this morning discussing some newly announced partnerships. The link is here:…

Some of this might be old news, but some is new (or new to me). There is no press release on the Cloudflare website as of yet, but essentially they are partnering with several of the big cyber-insurance companies. Certain Cloudflare customers will qualify for discounts on their cyber insurance. I see this as an important development because it means that the people in a company who look at risk and risk mitigation in operations are also seeing Cloudflare through that lens.

Tucked into the article is this little nugget too: “To make that process easier and faster, Cloudflare is partnering with CrowdStrike, Mandiant, and Secureworks to enable rapid referral of organizations under attack.”

If you hold or are contemplating adding shares of Cloudflare, it is worth reading the announcement. Some useful stats including how much spending for cyber insurance has increased: in Q2 of 2021 cyber insurance premiums were up 25%. Can you say ouch?

The market seems to like the announcement, though that may just be part of the bounce back from the market waking up to its irrational lack of exuberance last week.



We have heard this from Crowdstrike on several occasions as well. Cyber insurance has become either impossible to get or very expensive for companies that do not use cybersecurity products that have a good track record. This is just another data point that NET is in the top league of cybersecurity providers like Crowdstrike and Zscaler. I’d love to know if insurers provide discounts to Microsoft clients. From what I have gleaned from Crowdstrike comments, they may not.