Brokerbility has launched a new end-to-end cyber insurance proposition aimed at helping its broker members and their clients navigate the increasing threat of cybercrime.
After conducting thorough research and gathering feedback from members, Brokerbility established a partnership with cyber insurance providers CFC, Coalition, and Optimum Speciality Risks (OSR), naming them the network’s cyber affiliate partners.
To enhance the offering, Brokerbility also integrated Infoprotect into its cyber proposition. Infoprotect’s role will be to provide streamlined risk management services, making it easier for brokers to assess cyber risks more accurately.
The initiative is part of Brokerbility’s affiliate partnership programme, which promotes formal collaborations between recommended suppliers and its broker members. These partnerships aim to deliver mutually beneficial solutions to brokers and their clients.
Brokerbility operations director Michelle South noted: “Insurance brokers are facing increasing challenges in assessing and pricing cyber risk. This is due to the ever-evolving nature of cyber threats, the lack of standardised questionnaires and risk assessment methodologies, plus the added difficulty in obtaining complete and accurate data from clients.
“Our cyber proposition provides our members a complete cyber offering, trading directly with each affiliate partner, and a one-stop shop to meet their clients’ cyber protection needs.”
Meanwhile Brad Fraser, chief executive of Infoprotect, called the proposition a “revolutionary solution” for the market.
“This collaboration will streamline the process of capturing cyber risks and completing proposal forms, ultimately enhancing the efficiency and success of brokers, insurers, and clients alike.”
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