View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
July 1, 2022

Allianz enters multi-year tie-up with cyber insurance provider Coalition

Allianz has entered into a partnership with cyber insurance and security provider Coalition to offer multi-year capacity for US and UK cyber programmes.

Free Whitepaper
img

Never Trust, Always Verify: Is Zero Trust the Next Big Thing in Cybersecurity?

Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
  • Traditional vs zero trust protection
  • Key advantages and solution providers
  • Major industries and key players
  • Drivers and challenges
  • Top funded startups and Mergers & Acquisitions
  • Implementation challenges
by GlobalData
Enter your details here to receive your free Whitepaper.

As agreed, Allianz will have control of a share of Coalition’s all non-admitted cyber programmes in the US.

Allianz will also lead Coalition’s UK cyber programme which is slated to launch later this year.

The collaboration expands Allianz’s existing products and distribution network leveraging Coalition’s ‘Active Cyber Insurance’ approach. It will also help in serving the small and medium-sized enterprises (SME) and mid-sized companies in the two countries.

Allianz Cyber global head Scott Sayce said: “Cyber is one of the top risks for businesses globally and while the risk landscape is not getting any easier, we are expanding our offering for customers.

“We constantly urge our customers to strengthen their cyber defences and, with its innovative approach to cyber risk, Coalition has proven that data and technology can be very effective to prevent and resolve cyber claims.”

It is reported that the global economy loses up to $1.5tn per annum because of cyberattacks. However, majority of the companies are not prepared to combat the challenges.

Coalition Insurance head Shawn Ram said: “Far too many organizations simply aren’t prepared to manage and mitigate cyber risk.

“Coalition’s Active Insurance offers demonstrably better protection from cyber threats and with Allianz’s support we will be able to provide Active Cyber Insurance to more organisations worldwide.”

Recently, Allianz extended its Asian bancassurance partnership deal with HSBC.

Free Whitepaper
img

Never Trust, Always Verify: Is Zero Trust the Next Big Thing in Cybersecurity?

Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
  • Traditional vs zero trust protection
  • Key advantages and solution providers
  • Major industries and key players
  • Drivers and challenges
  • Top funded startups and Mergers & Acquisitions
  • Implementation challenges
by GlobalData
Enter your details here to receive your free Whitepaper.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Life Insurance International