Allianz Group’s specialist corporate insurer, Allianz Global Corporate & Specialty (AGCS), has formed a partnership with software firm Zeguro, in which Zeguro will act as Chief Information Security Officer (CISO), using its platform to provide Allianz clients with guidance on cyber risk.
These cyber exposure management and mitigation strategies will initially be rolled out solely to the firm’s U.S. clients.
Jenny Soubra, U.S. Head of Cyber for AGCS, commented; “It is no secret that small businesses are prime targets for cyber criminals, as most do not have the knowledge or resources to protect themselves against evolving threats.
“By partnering with Zeguro, our small business clients will have the benefit of even stronger and tailored security recommendations as well as training for their employees, available in a clear and easy-to-use format.”
Over 54% of all small businesses in the U.S. were breached by hackers last year, according to the Ponemon Institute’s 2017 State of SMB Cybersecurity Report.
Allianz said Zeguro’s risk management platform offers AGCS clients complete control and oversight of their digital world, thus removing the burden and time needed to continually manage cyber risks associated with business technology, people and processes. This is done via a modern and simple interface that guides clients through any areas of concern, while training its employees on best practices.
The partnership caters to smaller to medium-sized businesses, which often fall prey to phishing attacks via email or fraudulent activity happening in their e-commerce storefronts since they lack resources to afford their own IT teams.
“Cyber attacks can be catastrophic to small businesses,” stated Sidd Gavirneni, CEO & Co-Founder of Zeguro, “having access to Zeguro – via Allianz – constantly monitoring systems, training employees as well as proactively mitigating risks, gives peace of mind to these entrepreneurs.”
In 2016, AGCS introduced its cyber and professional liability coverage product called ACCEPT Protect® designed exclusively for the North American market.
Featuring a streamlined form structure with flexible terms, ACCEPT Protect is the first of its kind, offering individual or blended solutions for emerging threats across the Cyber, Media, Technology and Miscellaneous Errors & Omissions (E&O) markets.