Cyber insurance MGA Bewica has launched a suite of tools for insurance brokers and intermediaries looking to broaden their SME client offering including cyber risk assessment and reporting tool.
Bewica’s partner platform has been developed with feedback from brokers and intermediaries and built with the flexibility to fit around partners’ existing processes. It includes a broker portal, white label and API integration.
The broker portal allows instant quotes, auto-binding and supports the automation of client communication. Quotes take an average of three minutes to complete with explanations and guidance built into the quotation process. Sign-up to the portal takes two minutes and qualifying broker partners are approved within 48 hours.
The white label proposition is a partner-branded, fully automated quote-and-buy journey. It comes with a dashboard, allowing partners to see activity and support clients in real-time.
The API allows partners to integrate Bewica's insurance into existing digital customer offerings.
Bewica’s comprehensive cover underwritten by AmTrust at Lloyd’s includes 24/7 breach response supported by an expert panel of legal, cyber security and specialists. UK-domiciled SMEs are covered on a global-basis and up to 90% of business sectors are eligible for the cover.
Bewica has also developed automated cyber risk reports which assess the specific risk of businesses and provide tailored advice for SMEs.
Bewica, a Lloyd’s of London coverholder, was co-founded by CEO Eva Berg-Winters who has an insurance background having previously worked as Head of Claims.
“Cyber security is a business issue, not a technology issue” commented Eva Berg-Winters, Bewica CEO and co-founder. “Our service is aimed at busy SME owners not IT specialists and our mission is to help SMEs both identify and mitigate their cyber risk. With our tools, we make it easy for partners, both new to the market or experienced, to sell cyber insurance and provide tailored advice.”
Laura Pennick, Technology and Cyber Underwriter at AmTrust, said: "We know from the UK government's recent Cyber Breaches Survey that only 11% of business have cyber insurance, with small businesses the least likely to have a policy. The range of flexible and easy to use tools developed by the team at Bewica and backed by AmTrust will make it much easier for small business advisers to help their clients towards the protection they need."