Chubb launches Cyber Enterprise Risk Management on Ignite platform

By: Chubb

Chubb have announced the launch of Cyber Enterprise Risk Management on the insurer’s online mid-market broker platform, Chubb Ignite, as it continues to invest in its insurance and service capabilities for middle-market clients and brokers in South Africa.

Using the Ignite system, brokers can now quote and bind cyber risks online in minutes. When binding cover on Ignite, brokers benefit from access to Chubb’s full Cyber Enterprise Risk Management wording. The policy provides comprehensive cyber risk cover, including business interruption, data restoration, cyber extortion, third-party liability arising from privacy and security incidents and crisis response costs.

The online broker tool is backed by Chubb’s specialist underwriting team and gives brokers a seamless journey from quote to binding cover.

Key features include:

  • Immediate issuance of policy documentation;
  • Online renewal management; and
  • Ability to retain client information across various products enabling smarter cross-selling and more efficient client management.

Gena Jalink Mid-Market Practice Manager, Chubb South Africa, said:

“The launch of Cyber Enterprise Risk Management on Chubb Ignite reflects our commitment to invest in developing innovative solutions specifically designed to drive efficiency and provide our brokers with the value added services they need to grow with confidence. Ignite allows brokers to quote and be bound by Chubb within minutes, 24/7, with fewer referrals and minimum fuss. Ignite is truly mid-market focused and our cyber solution makes allowances for the fact that mid-market companies may not always have sophisticated risk and IT controls in place. For this reason, we have evolved the way we look at cyber risks for mid-market companies and restructured our pricing and underwriting criteria – permitting the use of mitigating risk controls and applying real-time discounts for risk management practices.”