Deep Instinct launches world’s highest value £2m warranty against ransomware in the UK
Deep Instinct, a deep learning-based cybersecurity form for predicting and preventing cyberattacks, is today announcing the world’s first combined ransomware and low false-positive warranty.
This industry-first offers up to £2m of compensation should customers using their software experience a ransomware attack or more than 0.1% of false positive alerts, where the software incorrectly categorises benign files as malware.
The news comes as the volume of ransomware attacks has tripled over the last year and several high profile attacks on the Irish Health Service and Colonial Pipeline have intensified the debate over making the payment of ransoms illegal, as well as raising questions on whether cyber insurers are fanning the flames of ransomware by paying ransom demands to cybercriminals.
In a survey of 100 UK cybersecurity professionals commissioned by Deep Instinct, 66% declared themselves to be in favour of making the payment of ransoms illegal.
Deep Instinct’s ransomware warranty has received an enthusiastic response from the industry as its terms explicitly exclude paying the ransom, focusing instead on covering the costs incurred in recovering from a ransomware attack.
The false positive warranty is an industry first, guaranteeing that customers using the deep learning software will experience a rate of alerts below 0.1%, compared to an industry average of 26%. The warranty offers security professionals the peace-of-mind of knowing that if the product does not deliver against its promise of stopping ransomware attacks or reducing the level of false-positive alerts below 0.1% then it will reimburse their customers.
According to Brooks Wallace, VP EMEA at Deep Instinct: “if I bought a new washing machine and it failed to wash my clothes then I’d be able to get my money back, it’s high time that the cybersecurity industry demonstrated the same level of maturity and confidence in its ability to deliver on its promise of stopping ransomware. Why should it be just the victim, or their insurance company, that shoulders the cost and deals with the fallout when technology doesn’t deliver?”
He continues: “The reason that we have the confidence to offer this warranty is because we’re the first deep learning cybersecurity framework on the market. Deep Learning is the most sophisticated form of AI, offering pinpoint accuracy. It doesn’t rely on human intervention, like machine learning AI driven solutions, but learns behaviour from ingesting vast quantities of data and building neural connections like a human brain, enabling it to instinctively and accurately spot a previously unidentified form of ransomware or other malware variant, in under 20 milliseconds – 10 times faster than the blink of an eye.”