Generali launches new cyber insurance services
Generali, one of the largest global insurance and asset management providers, has joined forces with Accenture and Vodafone Business to create a package of cyber insurance services that help corporate and SMEs clients quickly and effectively recognise, respond to and recover from cybersecurity threats and incidents.
The initiative, which includes cyber risk assessments, phishing simulations and learning programs, will support Generali customers to strengthen their ability to ensure a prompt restoration of normal operations - and to mitigate consequences in their own organisation and third parties.
New partnerships helping with cyber services
As global cybersecurity provider, Accenture will offer Generali’s customers cyber risk assessments and provide timely responses to cyber incidents. It will also provide to Generali’s cyber insurance underwriters access to Accenture’s Security Academy platform, which offers learning programmes, in multiple languages, on cyber threats and how to address them.
Vodafone Business will focus on the SME market, providing both Post-Breach Incident response services, as well as managing the contractual relationship with the insured. With a global reach and comprehensive cyber security portfolio of services, SMEs can benefit from initial incident categorisation and response activities through to complex security investigation, getting support when they need it most.
Andrzej Kawalec, Head of Cybersecurity at Vodafone Business said: “We are delighted to enter into this partnership with Generali and Accenture. By leveraging our existing relationship with Accenture, we are able to offer small and medium-sized enterprises an unrivalled range of security services across the globe. Working together with Generali and embedding these services into their cyber insurance solutions portfolio offers customers the reassurance that they can respond to the rapidly evolving threat landscape.”
The insurance industry needs to respond to increasing cyber needs
In addition, Europ Assistance will provide global coordination and serve as a contact point for both Corporate and SME customers, offering 24/7 front line support to help clients identify cyber incidents and activate the right resolution services.
These solutions will be offered globally, starting in Europe at the beginning of 2022, allowing for customisation depending on the local market and client preferences.
Bruno Scaroni, Generali Group Chief Transformation Officer, commented: “Technology, consumer needs and cyber risks evolve rapidly, and the insurance industry must accelerate to embrace new digital opportunities and respond to increasing cybersecurity needs. As part of our ‘Generali 2021’ strategic plan, we have allocated over one billion euros to boost the Group's innovation and digital transformation in order to address these very needs. Building on the strategic collaboration with Accenture and Vodafone Business, Generali will be able to help its corporate and SME customers understand their risk profile and define the best cyber insurance solutions.”
