Allianz teams up with Silicon Valley firm in cyber protection

Allianz Group’s specialist corporate insurer Allianz Global Corporate & Specialty (AGCS) has teamed up with Silicon Valley-based software company Zeguro.

Zeguro aims to simplify and streamline cyber security and risk management in small to medium-sized businesses.

Zeguro will serve as a virtual chief information security officer to those who purchase Allianz’s cyber insurance coverage to manage their cyber exposure and decrease the overall risk of financial loss following a cyber-attack. The service will initially be available to US clients only.

“It is no secret that small businesses are prime targets for cyber criminals, as most do not have the knowledge or resources to protect themselves against evolving threats,” said Jenny Soubra, US head of cyber for AGCS. “By partnering with Zeguro, our small business clients will have the benefit of even stronger and tailored security recommendations as well as training for their employees, available in a clear and easy-to-use format.”

AGCS clients will have complete control and oversight of their digital world, thus removing the burden and time needed to continually manage cyber risks associated with business technology, people and processes, the company claims.

“Cyber-attacks can be catastrophic to small businesses,” stated Sidd Gavirneni, CEO & co-founder of Zeguro. “Having access to Zeguro - via Allianz - constantly monitoring systems, training employees as well as proactively mitigating risks, gives peace of mind to these entrepreneurs.”

Get the latest re/insurance news sent to your inbox every day -  Sign up to our free email newsletters

Lloyd’s faces pre-tax loss in 2017 due to nat cat events: Moody’s

GIC Re to raise up to $1.7bn in IPO as it seeks international expansion

RenaissanceRe faces $625m nat cat hit in Q3

Third Point Re CEO praises strategy avoiding nat cat losses

Lloyd’s Council member Fleming resigns

WR Berkley NA nat cat loss expected below $110m

Randall & Quilter raises £50m to fund growth

Don't miss our insurtech email newsletter - sign up today