QBE Ventures and Zeguro Partner to Tackle Cyber Risk for SMEs
NEW YORK, Nov. 5, 2018 /PRNewswire/ -- QBE Insurance Group's (QBE) small and medium sized business customers could soon benefit from a virtual 'Cybersecurity Officer', thanks to a new partnership between the global insurer and emerging cybersecurity management leader, Zeguro.
Zeguro is an easy to use, online platform which enables users to automate their cybersecurity processes, detect for and manage any cyber risks to their company, and improve mitigation through recommendations on better cyber management across people, processes and technology. Zeguro also helps small and medium enterprises (SMEs) secure tailored insurance against damage in the event of a cyber-attack.
QBE Group Chief Operations Officer David McMillan said: "The risks of cyber-attack are significant for any business. 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 small and medium businesses 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."
Mr. McMillan said QBE's partnership with Zeguro was the latest initiative of the Group's venture capital arm – QBE Ventures – which makes targeted investments in start-ups that provide QBE with access to technically advanced and industry changing technology solutions.
Through this new partnership, QBE will work with the Zeguro team on an initial rollout of the platform in North America to create an insurance product that is designed specifically for small to medium enterprises.
Sidd Gavirneni, CEO of Zeguro, said: "We are thrilled to be working with QBE and the QBE Ventures team to help their customers protect sensitive data and to mitigate the risk of attacks from hackers and cybercrimes. Phishing, ransomware, and crypto-mining are becoming all too common and small and midsize businesses 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."
QBE Insurance Group Limited is listed on the Australian Securities Exchange, is one of the top 20 global insurance and reinsurance companies as measured by net earned premium and has operations in 36 countries. Visit www.QBE.com
About QBE Ventures
QBE Ventures is the venture capital arm of QBE Insurance Group. QBE Ventures invests in technology solutions that have the potential to transform QBE and the international markets in which the Group operates.
Zeguro reduces and insures the threat from cyber security for small and medium enterprises, those with revenues less than US$100 million. Their Cyber Safety Platform acts as a cyber security officer, to identify risks, deliver best practices to reduce exposure, and provide insurance against damage caused by cyber attacks. The company was founded by two cyber security experts and is based in San Francisco with additional operations in the UK. Visit Zeguro at www.zeguro.com or on LinkedIn and Twitter.