Africa Specialty Risks enters cyber insurance with digital quote-and-bind policy

Africa Specialty Risks (ASR) has entered into the cyber security marketplace for African businesses with the instauration of a integer quote-and-bind policy.

The caller merchandise is designed to connection sum to companies crossed the continent, opening successful South Africa, Namibia and Mauritius.

The cyber argumentation is disposable done ASR 24-7, an automated underwriting platform, and provides sum limits of up to $5m for businesses with yearly revenues arsenic precocious arsenic $100m.

The inaugural addresses the availability of cyber security successful Africa and aims to amended entree to hazard extortion utilizing its organisation channels.

The sum is supported by Lloyd’s AA-rated security.

ASR 24-7 enables authorised brokers to digitally make quotes and hindrance policies, removing the request for manual underwriter involvement.

Additionally, ASR’s cyber argumentation includes entree to enactment services specified arsenic incidental response, menace quality and information reporting.

ASR CEO Mikir Shah said: “There is simply a pressing request for cyber security crossed the African continent, which remains woefully under-served contempt facing an progressive cyber menace scenery akin to that of developed markets.

“ASR is gathering this request by offering a Lloyd’s cyber security solution for African businesses. This caller merchandise is backed by a sheet of starring vendor partners who tin assistance companies some successful mentation for, and successful effect to, immoderate cyber incident.

"We look guardant to rolling retired cyber sum crossed the full continent successful the coming months via our ASR 24-7 platform.”

Last month, ASR introduced Syndicate 2454 successful South Africa, based successful Sandton.

Underwriters from this portion volition enactment with some security and reinsurance crossed South Africa and neighbouring countries, concentrating connected specialty security classes.

"Africa Specialty Risks enters cyber security with integer quote-and-bind argumentation " was primitively created and published by Life Insurance International, a GlobalData owned brand.

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