CyberScout has partnered with Pioneer Insurance & Surety Corp. and MSIG Mingtai Insurance Co. to deliver an embedded, retainer-based cyber insurance offering for the Southeast Asia market.
The solutions will offer multilingual 24/7 breach response, consumer cyber assistance, remote consulting and data forensic services to both individuals and small and medium-size businesses in Taiwan and the Phillipines.
They will be embedded into existing products, services and customer portfolios without the need to opt-in, in order to promote universal coverage for cyber risk.
“These two new partnerships will provide access to high quality global response capabilities to consumer and mass-market Asian audiences where this previously would have been unavailable to them,” said CyberScout Managing Director Matt Cullina.
“Pioneer Insurance and MSIG Mingtai are the perfect partners to spread our joint message that the insurance industry will step up and protect vulnerable small to medium-size businesses and consumers that previously had no access to cyber insurance,” he continued.
Tom Spier, CyberScout Commercial Director, Global Markets, also commented: “High-quality mass-market products that can be embedded across existing customer portfolios lower aggregation risk, demonstrate innovation and reduce friction in the underwriting process.”
“We are delighted to be a small part in the evolution of how cyber will be distributed in the future,” Spier added.
“Global expert response will underpin local expertise from a language, legislation and consultancy perspective. We are confident that together these will be amongst the fastest growing portfolios of their kind with real customer demand behind them.”