Small businesses to get 24/7 cyber response support through Cynch Security partnership with Agile Underwriting
Cynch Security has announced a partnership with Agile Underwriting that will deliver cyber insurance to its annual small business members. Susie Jones, CEO and co-founder of Cynch Security, says the strategic partnership is an important step for small business owners, who are frequently underprepared and unsupported when they fall victim to cyber attacks.
“Cyber fitness is about being fit, strong and resilient to the cyber threats businesses face every day, and purchasing cyber insurance is an economic way to reduce the impacts incidents have on a small business. By partnering with Agile, we are able to offer our annual members not only solutions to reduce the chances of something bad happening, but also support in the event the proverbial hits the fan despite best efforts.”Susie Jones, CEO and co-founder of Cynch Security.
Many of the small businesses who sign up to the Cynch cyber fitness program will be able to purchase the policy at no additional cost using Cynch member credits, and others may be eligible for discounts when purchasing policies with Agile. “We aim to make cybersecurity affordable for all small businesses”, says Jones.
Cyber crime costs Australia around $1 billion per year and 59 per cent of Australian organisations have their business interrupted by cyber crime every month, according to the Commonwealth’s Stay Smart Online guide for small business. And 55 per cent of Australian SMEs unknowingly expose themselves to cyber crime risks through email and social media, according to the NSW Small Business Commissioner’s 2017 report, Cyber Aware.
The team at Agile Underwriting have responded by creating a product specifically designed for small businesses.
“We’re excited to be partnering with Cynch Security to help educate SMEs about Cyber Security. Prevention is better than the cure or claim for both customers and Agile and we have listened closely to small businesses and designed an insurance product to meet their unique and diverse needs. Small business owners are already busy and we understand the confusion about digital and information security risks, cyber insurance just adds to their to do list. ”James Crowther, General Manager of Agile Cyber.
The CyberCare cover includes a 24/7 emergency response team and cover both crisis management costs and data breach notification costs. The Agile Cyber team work with a panel of providers to ensure each small business gets the service they need.