Allianz boosts cyber insurance offering with multi-year partnership

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“Cyber is without doubt one of the high dangers for companies globally and whereas the danger panorama will not be getting any simpler, we’re increasing our offering for purchasers,” stated Scott Sayce, international head of cyber at Allianz. “We continually urge our clients to strengthen their cyber defenses and, with its revolutionary strategy to cyber danger, Coalition has confirmed that information and know-how will be very efficient to stop and resolve cyber claims.”

Through the partnership, Allianz’s merchandise and distribution community present long-term capability for Coalition’s “Active Cyber Insurance” strategy to focus on the SME section within the US and UK.

In return, Coalition combines cyber protection with AI-powered safety instruments to permit Allianz clients to identify, forestall and reply to cyber danger. In addition, Coalition’s 24/7 entry to incident response consultants permits organizations to answer threats at an early stage, leading to a decrease frequency of claims in comparison with the cyber market common.

“We’re thrilled to have Allianz, one of many world’s largest insurance firms, companion with Coalition to guard the unprotected,” stated Shawn Ram, head of insurance at Coalition. “There are far too many firms who merely aren’t ready to handle and mitigate cyber danger. Coalition’s strategy of Active Insurance presents demonstrably higher safety from cyber threats and with Allianz’s help we can assist defend extra organizations worldwide.”

Aside from its partnership with Allianz, Coalition can be backed by international insurers Swiss Re Corporate Solutions, Arch Insurance North America, Lloyd’s of London and Ascot Group.

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