Acturis partners with HSB for first Cyber add-on product

2019/10/11

Press Release

Acturis, the leading Software-as-a-Service provider to the insurance industry, is expanding the e-trade capabilities of its award-winning platform with the launch of its first cyber add-on product by HSB Engineering Insurance.

The launch sees HSB Engineering Insurance, part of Munich Re, become the first insurer to go live with the cyber add-on solution on the Acturis platform.

Following the successful launch of the HSB suite of construction insurance products on Acturis last March, the specialist engineering and construction insurer worked with Acturis to build a cyber product that will strengthen the insurer’s e-trade offering.

Brokers can now quote and bind the HSB cyber add-on to other lines of business as an additional cover, alongside package policies.

The policy, aimed at SMEs, provides cover for:
 

  • Computer system damage and business interruption
  • Data-breach response
  • Cyber liability
  • Cyber crime

The HSB cyber add-on product will also soon be available on HSB Fast Track, the insurer’s broker online trading platform launched earlier this year, as a part of their strategy to enable brokers to trade their products quickly and easily.

Paul Cullum, Alternative Distribution Manager at HSB, commented: "HSB is known for its specialist underwriting expertise, which is why we are delighted to be leading the first release of a cyber add-on product offering on Acturis. The availability of our products on Acturis is an important part of our online distribution strategy and reflects our commitment to making engineering and technology products easy for brokers to trade electronically."

Gregory Toothe, Specialty Lines Product Manager at Acturis, commented: "Working with HSB, we are delighted to expand the type of Cyber offering available on the Acturis platform to include Add-Ons, not just stand alone. In the fast-moving Cyber market, creating a standard coverage option as an Add-On gives our Brokers increased flexibility on what they are able to offer their clients."

E-Trade: HSB Cyber Insurance

An add-on policy covering computer system, data and cyber risks, designed to mitigate a cyber event affecting small and medium-sized businesses; reducing its impact from a financial, reputational and business interruption perspective.
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