Neil Gurnhill: Secondly, we bring in managed service providers to join us in the conversation. Depending on how that conversation goes, the insured would contract directly with the service provider. They would become better insured for us that leads to less losses. The insured is more cyber resilient in that approach.
>>>Neil Gurnhill: Our capacity is provided by a number of Lloyd’s of London syndicates. Lloyd’s of London is a very old and well-known institute for insurance. It’s conducted insurance for over 200 years. Within Lloyd’s, there are syndicates.
If a syndicate wants to participate in the cyber risk arena but doesn’t have the internal capabilities themselves, they will look for specialists like Node. They will grant us capacity to underwrite on their behalf.
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We haven’t really covered Cyber Insurance thus far. Well, here we go…
Sramana Mitra: Let’s start by introducing our audience to yourself and to the company.
Neil Gurnhill: I’m the Founder and CEO of Node International. It’s a company that has now been in existence for a little over two years. We’ve grown the business to over $5 million in revenue.
>>>Sramana Mitra: If you look at your entire body of competitors, what is the degree of penetration of your kind of technology?
Brett Williams: I don’t have the number on it. Anecdotally, the penetration of this at the enterprise level, is probably 50% to 60%. In the SMB, it’s much smaller. There’s not an offering that can serve them.
>>>Brett Williams: Attackers have increasingly become sophisticated. In Cyber Command, I saw that capabilities that were earlier exclusively only nation state capabilities are now readily available on the dark web and other places.
Companies need to move beyond simple firewall and signature detection systems. Our product is based on behaviors and being able to recognize when a common communications protocol or an application is being used in unusual ways.
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This discussion focuses on behavior-based network traffic analysis.
Sramana Mitra: Let’s start by introducing our audience to yourself as well as to IronNet.
>>>Ash Ashutosh: There’s more on the realty consumer side. This is more around what you do on your financial day-to-day mortgages but still in conjunction with the bank that I talked about. One mission was to make sure the customer of an enterprise had a good experience. The other one is to serve applications for the customers.
One is about a better experience if you’re working with me as a bank. The other one helps you do a better job of what you’re already doing. There’re so many silos of data that we could do a phenomenal job of as an entrepreneur to go solve this problem.
>>>Sramana Mitra: Dell’s an OEM relationship?
Ash Ashutosh: It’s a reseller/selling partner relationship. Their sellers can sell it and they get paid for it. They don’t rebrand the Actifio software. They rebrand the whole product.
The last partnership is on the systems integrator side with TCS. Because it’s all about data and transformation, we needed to find a partner who spends an enormous amount of time with the kinds of customers we deal with. It has contributed to about 20% of our revenue.
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