Swiss Re Corporate Solutions launches CyberSolution 360°, the unique cyber risk protection for SMEs
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Swiss Re Corporate Solutions expands its cyber offering by launching CyberSolution 360°, an innovative risk management solution that combines insurance with cyber attack protection services. Developed in the exclusive collaboration with the French cyber security specialist OZON, the solution is tailor-made for small and medium-sized enterprises (SMEs) with 10 to 250 employees to help them manage their cyber and digital risks.
The cyber security services designed and offered by OZON do not have technical constraints and come at a competitive price which makes them valuable for any type of SME. The dynamic protection system constantly adapts to new cyber threats and targets the three main attack points of an SME: its website, emails and endpoints.
The compatible cyber insurance services offered by Swiss Re Corporate Solutions cover cyber incident management, including costs such as data recovery fees, legal advice fees or administrative penalties; first party losses including the loss of income; as well as third party claims, such as damages under an SME's privacy liability.
"By combining cyber insurance with protection services, we're able to help European SMEs better manage their cyber risk," says François Brisson, Head Cyber Technology EMEA, Asia Pacific and Latin America Swiss Re Corporate Solutions. "CyberSolution 360° reduces both the likelihood and the impact of a cyber attack, and therefore gives SMEs better protection for growing their business safely."
"With CyberSolution 360°, we are making a paradigm shift, moving from the one-time assessment of cyber risks to the integrated and continuous management of cyber and digital risks for SMEs," explains Regis Rocroy, CEO and founder of OZON. "This innovation is our first step into the Insurtech market."
According to the FERMA European Risk Manager Survey 2018, conducted by the Federation of European Risk Management Associations, cyber threats are the number one concern in Europe; 37 percent of risk managers named cyber threats as the main risk to their company's growth prospects. CyberSolution 360° helps risk managers to address this threat in a two-fold way: by helping SMEs respond to a cyber incident and reducing the likelihood one will occur in the first place.
CyberSolution 360° is available in France as of 6 February, with more European markets to follow in 2019.