Cyber Peace of Mind: Guardz Launches Cyber Insurance Bundled with Active Protection, Empowering MSPs to Secure and Insure SMBs

Highlights

• Challenges Faced by SMBs in Obtaining Cyber Insurance: SMBs struggle with limited resources, expertise, and the complexity of insurance requirements, making it difficult to secure cyber insurance coverage despite the escalating threat landscape.

• Bridging the Gap Between Cybersecurity and Insurance: Guardz combines expertise in cybersecurity and insurance processes to create an optimized secure and insure package for MSPs to offer their SMBs, addressing the gap between their cybersecurity capabilities and insurance requirements.

• Comprehensive Cybersecurity Solutions with Guardz: Guardz offers a unified approach to cybersecurity, investigating vulnerabilities, providing end-to-end protection, and offering continuous monitoring and optimization. This ensures small businesses are well-prepared to face evolving cyber threats while meeting insurance standards.

Challenges Faced by SMBs in Obtaining Cyber Insurance

In today’s digital landscape, SMBs face a daunting challenge when obtaining cyber insurance coverage. Despite the escalating threat landscape and the potentially devastating impact of cyber attacks, many SMBs grapple with limited resources, expertise, and the complexity of insurance requirements. From stretched budgets to a lack of in-house cybersecurity talent, SMBs are often ill-equipped to meet the stringent criteria set by insurance providers. Coordinating with multiple vendors, navigating evolving cybersecurity standards, and balancing cost considerations further compound the challenge. The statistics highlight this challenge: while a staggering 89% of SMBs recognize the necessity of cyber insurance, only 26% have managed to secure it.

Guardz: Bridging the Gap Between Cybersecurity and Insurance

Guardz is thrilled to launch its latest Cyber Insurance offering to SMBs and aims to set a new industry standard with its AI-powered, unified cybersecurity and insurance offering. Now available across a majority of US states, the cyber insurance policy offers competitive pricing and a coverage limit of up to $3M, including media content liability, hardware replacement coverage, and ransom payment coverage.

Guardz combines its expertise in cybersecurity and insurance processes to create an optimized “secure and insure” package for MSPs to offer their SMB clients. This holistic approach addresses the gap between small businesses’ cybersecurity capabilities and insurance requirements, ensuring they are well-prepared to face evolving cyber threats while meeting insurance standards.

Comprehensive Cybersecurity with Guardz

Guardz offers a unified approach to cybersecurity, investigating vulnerabilities, providing end-to-end protection, and offering continuous monitoring and optimization. This ensures small businesses are well-prepared to face evolving cyber threats while meeting insurance standards. The platform simplifies and shortens the onboarding process by automatically assessing and monitoring the inquiring business’s cyber posture, eliminating tedious questionnaires typically associated with applying for a new policy, ultimately saving valuable time and resources for businesses.

Unique Aspects of Guardz’s Offering

1. Direct Qualification and Insurance: MSPs can go through Guardz directly to get their clients qualified and insured for cyber insurance.
2. Short Questionnaire: The onboarding process is streamlined with a short questionnaire, making it easier for SMBs to obtain coverage.
3. Solutions for Declined Applications: If a business is declined for insurance due to security reasons, Guardz provides solutions to help them qualify.
4. Expert Assistance: Businesses get help from cybersecurity experts who support the cyber insurance process.

Differentiation in the Market

1. No Brokers Needed: Unlike other providers, Guardz does not refer MSPs or clients to brokers. Instead, they work directly with Guardz as their broker/agent.
2. Tailored Policy: Guardz offers a policy specifically made for its platform, ensuring it meets the unique needs of SMBs.
3. Quick Quotes: Businesses can get a quote in five minutes or less, streamlining the insurance procurement process.

With Guardz in place, small businesses can enjoy the best of both worlds: robust security measures and an optimized insurance package that allows them to operate confidently in today’s increasingly interconnected and cyber-threatened landscape.

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