/case_study_thumb_webhelp.webp?width=1136&height=639&name=case_study_thumb_webhelp.webp)
/inc-5000-news-thumbnail.webp?width=600&height=336&name=inc-5000-news-thumbnail.webp)
Organization Intro
The Fortitude Re Group manages approximately $101 billion in general and separate account insurance reserves and administers over 4 million insurance policies. The foundations of our business model are our exceptional insurance professionals and the support of the world’s most sophisticated insurance investors, including Carlyle and T&D Insurance Group. Our people, our capital strength and our capabilities drive strategic reinsurance solutions designed to meet our clients’ highest priority goals and to create sustainable, long-term value for our shareholders, our teammates, and the communities in which we operate.
The Problem
Fortitude Re, managing substantial insurance reserves, faces relentless cyber threats that challenge even the largest financial institutions. Their digital battleground includes sophisticated phishing and business email compromise (BEC) attacks. Elliott Franklin, Vice President and Chief Information Security Officer at Fortitude Re, highlighted the immediacy of the threat, saying, "Every time we get a new hire, within an hour or two of them changing their LinkedIn profile, they'll get a phishing email or a text posing as our CEO."
/Eliott%20Franklin%20(Webp).webp?width=100&height=100&name=Eliott%20Franklin%20(Webp).webp)
Solution
Faced with escalating cyber threats, Fortitude Re turned to IRONSCALES to overhaul their existing security measures and integrate cutting-edge solutions for robust email protection. Describing the transition, Elliott Franklin said,” We moved away from traditional email gateways, which were too slow for today’s fast-paced threats, to IRONSCALES’s dynamic AI-driven system. The switch was pivotal in handling emails, analogous to upgrading from a local post office to direct home delivery."
IRONSCALES stood out in a comprehensive review process against five vendors, where they demonstrated superior capability in detecting and mitigating threats that others missed. This was particularly evident in their dual approach that combines advanced phishing detection with proactive security training. "What impressed us most was their ability to deliver both high-end security measures and comprehensive employee training in one platform," Elliott added. This integrated approach has significantly enhanced Fortitude Re’s defensive posture, empowering employees with regular phishing simulations and training, ensuring they are prepared to identify and report sophisticated phishing attempts.
Outcomes
Since adopting IRONSCALES, Fortitude Re has significantly bolstered its defense against sophisticated phishing attacks, including innovative QR code threats. Responding rapidly to these new challenges, IRONSCALES developed a unique capability to analyze and block malicious QR codes, establishing themselves as pioneers in the field. Moreover, their adaptable phishing simulations have effectively educated the workforce, receiving positive feedback despite occasional high click rates, with employees appreciating the realistic training. "You really trained me well," reflects the positive impact of these rigorous security measures.
In the past 6 months since implementing IRONSCALES, Fortitude Re has:
- Automatically detected and remediated 13k phishing emails
- Seen a 10% increase in employees reporting phishing simulations
- Achieved a $78K cost savings
Explore More Articles
Say goodbye to Phishing, BEC, and QR code attacks. Our Adaptive AI automatically learns and evolves to keep your employees safe from email attacks.
