SOURCE: Trusona

Trusona

May 16, 2016 09:00 ET

Trusona Announces World's First Insured Authentication

A+ Rated Insurance Carrier Backs First-Ever Identity-Proofing & Authentication Platform

Trusona Announces Insurance Formula for Calculating Online Authentication Risk

SCOTTSDALE, AZ--(Marketwired - May 16, 2016) - Trusona, the category-defining identity and authentication platform for the world's most critical and sensitive Web and mobile transactions, today announced that its unique authentication platform and federated identity solution for the enterprise is now insured by an A+ Rated insurance carrier. The insurance approval of Trusona's technology follows rigorous and broad security testing conducted by one of the world's premier cybersecurity and forensics firms, Stroz Friedberg. Insurance for Trusona's solution is available for up to $1,000,000 coverage per transaction.

Since the company's launch in February 2016, Trusona's unparalleled technology, the TruToken, has completely changed how the world's most sensitive assets are protected and secured. The technology's debut, in conjunction with in-person identity proofing and authentication methods created by Trusona, has enabled insured authentication for the first time in history. To learn more about Trusona's unique insurance formula, read the whitepaper here.

"It's been my life-long goal to make the Internet a safer place for both businesses and individuals and Trusona is an embodiment of that vision," said Ori Eisen, founder and CEO of Trusona. "Being the first and only security solution to be insured is a testament to the strides we've taken to make this vision a reality. Trusona is changing the way we authenticate online, in turn, making the world a safer place -- and I couldn't be prouder of the team and the industry support we've garnered in this journey."

Trusona's category-defining solution takes a completely new approach based on four levels of assurance (LOA) as defined by NIST. This allows any enterprise to select the right level of authentication for each use-case. The solution begins with LOA 1 for the most common needs, all the way to the insured service in LOA 4, which includes $1 million per transaction.

Now, everything from high-value wire transfers, health records, privileged accounts and remote access to critical infrastructure can be protected. Insured authentication is the next necessary step in security considering the wave of recent ransomware attacks affecting healthcare organizations; the penchant for rogue states and terrorists to attack critical infrastructure facilities; and the increasing popularity of dispersed workforces and remote access technology that puts sensitive data at risk.

"For too long, the Internet has been an open playground for fraudsters and hackers. But now Trusona has flipped the security game on its head, making it impossible for malicious actors to victimize companies and individuals through bypassed authentication measures," said Ted Schlein, general partner at KPCB. "Cybersecurity is often considered a cat-and-mouse game, but Trusona has made it possible to take a stand and stop threat actors in their tracks with 100 percent assurance. Being insured is just further proof of Trusona's capabilities."

The catalyst for Trusona's unmatched solution is the TruToken, a patented technology with a zero percent fraud rate supported by actuarial data. The TruToken reads the unique, physical magnetic signature found in each card's mag-stripe -- making it impossible to fool with counterfeit cards. Further, by measuring the swipes, two of which will never be the same, it guarantees safety from session replay attacks.

"The Trusona service has been subject to independent security testing as part of the process for them to offer an insured solution," said James Aquilina, Executive Managing Director at Stroz Friedberg. " We were pleased to note from our review that Trusona appears committed to understanding and managing the security risks of its service in order to offer an insured solution to its customers."

To learn more about Trusona and its category-defining authentication solutions visit Trusona.com.

About Trusona
Based in Scottsdale, AZ, Trusona is the world's first authentication platform, designed to guarantee the true persona of verifiable users for the most sensitive online transactions across the enterprise. Backed by actuarial data, Trusona's solution is composed of in-person identity-proofing and distribution, NIST Level 4 authentication standards and patented anti-replay technology. The company was founded in 2015 by CEO and cyber security expert Ori Eisen and has $8 Million in funding, led by Kleiner Perkins Caufield & Byers. Trusona -- when you truly need to know. For more information about Trusona, visit www.trusona.com.

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