Zurich partners with Canadian insurtech to launch cyber risk solution
Zurich Insurance Group has partnered with Canadian cyber insurtech BOXX Insurance to launch a new cyber risk solution targeted towards individuals and families.
BOXX insurance combines cyber insurance and security to offer protection against cyber threats. Zurich has been working with BOXX since 2021 and participated in BOXX's Series A and Series B funding rounds.
The partnership has developed an app to provide users’ digital safety and offer an easy-to-use interface, and to better predict and prevent potential scams and digital threats. It also offers emergency assistance. It is available in Switzerland and offers support in English, German, French and Italian.
René Harlacher, chief underwriting officer of Zurich Insurance, said: “An extensive research conducted by Zurich Insurance in Switzerland showed that many are not aware of online dangers and that around a quarter have already been victims of a cyber-attack. In addition, customers are simply overwhelmed with the range of cyber products.
“Based on these facts, we are expanding our cyber offering for private individuals so that we can provide them with support before, during and after a possible cyber-attack. This is exactly where our joint offering with BOXX Insurance comes in, as a way to lend additional support to our customers.”
Vishal Kundi, chief executive officer and founder of BOXX Insurance, added: "We created this to give individuals and families what they want – an app that delivers an essential bundle of tools at users fingertips including access to experts in the event of a cyber emergency.
“Smartphones have become the fastest-selling gadgets in history. They have penetrated every aspect of daily life. The average person picks their phone up to 100 times a day so if we want to make their world a digitally safer place, we have to ensure their phone and their usage is better secured.”
Kundi continued: “From providing protection from the dangers of being connected at home and on the go, customers now have the means to keep their devices and data secure and have access to indispensable help in an emergency, all in one easy-to-use app.”
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