UK-based IT applications provider Northdoor has collaborated with 24 Lockdown to offer security services to the London insurance market.
The companies will jointly offer risk avoidance and security protection to insurance companies, which on the whole face annual losses of £2bn from insurance fraud.
Northdoor commercial director Rob Stavrou said that organisations must not only understand current trends in security threats, but also be able to identify vulnerabilities within their existing infrastructure.
"More and more organisations are becoming victims of cybercrime every day, which costs UK plc up to £21bn per year," Stavrou added.
Under the partnership, Northdoor will offer three different 24 Lockdown services including Pre-Risk Assessment, Brand Assessment and Rapid Response Protection.
24 Lockdown’s UK operations director Simon Teague said that with the partnership, the company can build on Northdoor’s experience and knowledge of selling security applications that safeguard data against financial reputational and operational risk.
"Not only does Northdoor offer expert knowledge across a range of solutions but it also has over 20 years track record in the insurance space," Teague added.
Northdoor is also planning to build and enhance the 24 Lockdown plan of services, expected to be announced in the coming months.