Connected Insurance (CI) and Swiss Re have today formed a partnership to create a new cyber protection product that offers families and individuals personal cyber insurance. Called ‘The Digital-Life Insurance’, the product aims to provide risk prevention tools to help customers protect their electronic devices from cyberattacks.
The Digital-Life insurance
Explaining the product in more detail, Arik Shpak, Chief Insurance Officer at Connected Insurance, said: “We have redesigned the traditional personal cyber insurance to be more relevant, affordable, and easy to purchase. Unlike traditional cyber insurance products, The Digital-Life Insurance adds additional layers of prevention and proactive protection. We use an AI chatbot to create a digital fingerprint of the customers and help them to reduce their exposure to cyber-attacks.”
Commenting on the partnership with Swiss Re, he added: “We are happy that Swiss Re, one of the most highly regarded institutions in the insurance industry, has decided to partner with us to explore these new frontiers.”
According to the companies, the product is designed to fit distribution via several digital platforms such as banks, e-commerce platforms, and payment apps. The solution, offered by Israeli insurance carrier Bituach Haklai Insurance, includes 24/7 incident response and Surance.ai smart home risk mitigation services.
Arnaud R. Kopp, Solutions Lead in the Mediterranean region of Swiss Re, said: “We paired with Connected Insurance and Bituach Haklai insurance as we saw in them partners capable of complementing our cyber offering to serve end customers. The COVID-19 crisis has increased the awareness of households around cyber risks and led to new needs for coverage. To meet these needs, digital distribution and added value services are key.”
“Strong, personal cyber hygiene”
Fabian Willi, Head Cyber Solutions Sales & Delivery of Swiss Re says that cyber protection begins with “strong personal cyber hygiene”.
“By combining Swiss Re’s state-of-the-art personal cyber insurance offering with Connected Insurance’s risk prevention technology, we have created a powerful solution for individuals to take their cyber resilience to the next level,” he said.