Specialty insurer Arch has partnered with Upfort, a cyber security and insurance platform, to ‘transform’ cyber insurance programmes for SMEs, associations and risk pools.
Both firms will work with brokers to develop group programmes prioritising broad insurance coverage, competitive pricing, embedded security solutions and ‘a seamless digital experience’, says Upfort.
This will allow insurance agents and brokers to promote cyber resiliency at scale, in addition to fostering connections with their clients and prospects.
Combining loss control and automated underwriting with a user-friendly, low-touch process, Upfort will also allow Arch’s brokers to efficiently meet the needs of these businesses.
Upfort expects cyber insurance premiums to grow by 20 per cent year-over-year until 2025, meaning that more market segments need to access coverage to protect against evolving cyber risks.
Josh Riley, managing director of Upfort, comments: “By integrating our technology with Arch’s insurance solutions, we’re accelerating the world’s journey toward cyber resilience. We are proud to be the partner of choice for Arch to expand its cyber offering.”
