QBE Insurance Group has announced a new partnership with emerging cybersecurity management company Zeguro, through which QBE will provide cyber help for its small and medium sized enterprise (SME) customers.
Zeguro provides an online platform that allows users to implement automated cybersecurity processes, scanning for and managing cyber risks and giving advice and recommendations on improved IT management throughout companies, be that in the technological, procedural or personnel arena. The company also has extensive experience helping SMEs to find tailored insurance to protect them against potential cyberattacks.
The partnership is an initiative spearheaded by QBE’s venture capital arm, QBE Ventures, which has been making targeted investments in tech-based startups. QBE will now work with Zeguro on an initial rollout of the platform in North America, developing an insurance product specifically for SMEs.
"The risks of cyberattack are significant for any business,” said David McMillan, Group Chief Operations Officer at QBE. “They can be hugely disruptive and extremely costly, so it is vital that companies have systems and processes in place to prevent or mitigate any kind of attack. Many SMEs lack the resources to invest in high levels of IT security or risk management, which leaves them exposed. Zeguro allows our SME customers to take control and oversight of their cyber exposure through an easy to use interface that automates cybersecurity processes and provides ongoing recommendations to reduce their overall cyber risk."
Zeguro’s CEO Sidd Gavirneni said that his company was ‘thrilled’ to be working with QBE: “Phishing, ransomware and crypto-mining are becoming all too common, and SMEs typically do not have the resources to protect themselves from such expensive breaches. Zeguro provides the continuous monitoring and management tools for this segment to manage their environment.”