Zurich Insurance and insurtech company BOXX Insurance have formed a partnership to introduce a new personal cyber insurance product in Switzerland.
The Zurich Cyber Security App will offer services to help individuals and families combat digital threats and provide emergency support.
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Now available in Switzerland, the app supports multiple languages, namely English, German, French and Italian.
It features identity protection, which monitors the dark web for users’ personal data and provides notifications and advice to mitigate identity theft risks.
The app’s virtual private network is said to create a secure and encrypted internet connection, safeguarding data against hacking, identity theft and phishing attacks.
The app also scans Wi-Fi networks for threats; warns against harmful websites; links, checks and improves device security settings; and offers protection against viruses and malware for Android devices.
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By GlobalDataIts password manager feature helps users create and manage strong passwords.
In the event of a cyber emergency, the app will provide access to cybersecurity experts for assistance with IT-related problems.
To further support users, the platform includes educational content to enhance personal cybersecurity awareness.
Zurich Insurance chief underwriting officer in Switzerland René Harlacher said: “An extensive research conducted by Zurich Insurance in Switzerland showed that many are not aware of online dangers and that around a quarter have already been victims of a cyberattack.
“In addition, customers are simply overwhelmed with the range of cyber products. Based on these facts, we are expanding our cyber offering for private individuals so that we can provide them with support before, during and after a possible cyberattack.”
BOXX Insurance CEO and founder Vishal Kundi said: “We created this to give individuals and families what they want – an app that delivers an essential bundle of tools at users fingertips, including access to experts in the event of a cyber emergency.
“Smartphones have become the fastest-selling gadgets in history. They have penetrated every aspect of daily life. The average person picks [up] their phone up to 100 times a day so if we want to make their world a digitally safer place, we have to ensure their phone and their usage is better secured.”
Zurich’s collaboration with BOXX dates back to 2021, with Zurich participating in BOXX’s Series A and Series B investment rounds.
Meanwhile, in January 2024, BOXX expanded its cyber risk offering by partnering with AXA to launch a product tailored for small businesses in Spain.
