Qualys Inc. (NASDAQ: QLYS) announced a partnership with Converge to provide reduced cyber insurance premiums for organizations that demonstrate strong cybersecurity practices through Qualys' Enterprise TruRisk Management platform.

The collaboration introduces the Qualys Converge Connect Insurance Report, which automatically generates data from Qualys' security platform to verify an organization's vulnerability management, patch management, and endpoint detection controls. This report provides insurance underwriters with real-time insights into security posture, potentially enabling more accurate premium pricing based on actual risk levels rather than industry averages.

The automated reporting system aims to streamline the cyber insurance application process by replacing manual questionnaires that Converge says are time-consuming and prone to inaccuracy. The report includes metrics on risk reduction, remediation velocity, compliance rates, and asset coverage, with each report remaining valid for 30 days.

"Cyber risk has historically been priced on snapshots and self-reported answers, leaving real exposure invisible between renewals," said Tom Kang, CEO of Converge. "With verified data, we will be able to underwrite to a company's live security posture and provide policyholders who do the hard work of reducing risk to see the benefits."

Sumedh Thakar, president and CEO of Qualys, stated that the partnership addresses the need for better correlation between cybersecurity strength and insurance costs. "That's why we created ETM to provide stakeholders with an accurate picture of their true risk, enabling better business outcomes like cyber insurance savings, and a greater incentive to reduce their cyber risk," he said.

The report covers multiple Qualys solutions including Enterprise TruRisk Management, Vulnerability Management Detection and Response, TruRisk Eliminate, and Endpoint Detection and Response. The offering is available through Qualys' Enterprise TruRisk Management platform.