Marsh has developed an embedded micro-cyber insurance program

To protect consumers against these risks, Marsh developed an embedded micro-cyber insurance program, which can be used by organizations across a broad range of sectors. For example, a consumer electronics manufacturer is interested to offer the insurance to consumers at the point of sale, and plans to charge a small monthly fee after the promotional period.

Source: Marsh

The program not only allows consumers to manage their cyber risks but also leads to a boost in consumer confidence due to having the relevant cyber protection in place. For the manufacturer, the program provides the opportunity to strengthen brand loyalty, upsell to consumers in the future, and differentiate their product in a competitive marketplace.

Ransomware, phishing, and malware attacks on home computers are increasingly common. After identifying the most frequent of these personal cyber risks, Marsh bundled insurance coverage for them into an embedded micro-cyber insurance product that can be given away at purchase for a limited promotional period, and extended for a small fee — less than $1 a month, thereafter.

Read full article:

Get weekly insights

Join 2,000+ others who receive our weekly newsletter

Please enable JavaScript in your browser to complete this form.