Baloise launches cyber insurance for SMEs

Basel, July 2018. Baloise is setting new standards with its Simply Safe strategy and supporting its business customers in the digital world too. Digitalisation, along with its many advantages, also brings with it several risks. For a few months now, private customers have benefited from insurance coverage for cyber risks – equivalent insurance is now being made available to business customers.

Hacking, phishing and online social engineering – these are terms familiar to us through the media. But to what extent do they affect our day-to-day professional lives? “The number of cyberattacks is increasing exponentially every year. According to a study by KPMG, 88% of all companies in Switzerland were victims of cyberattacks in 2017. In 56% of cases, this resulted in an interruption to business processes,” said Marcello Bellini, Baloise IT Security Manager. Apart from financial consequences, cyberattacks frequently also cause significant reputational damage.

In large companies, a team of IT security experts makes sure – almost around the clock – that cyberattacks are unable to breach its systems. At SMEs, the resources simply aren’t available in most cases to be able to muster such a defence. For this reason, Baloise offers SMEs precisely the protection and support that they need with its cyber insurance for business customers. The new insurance provides comprehensive support for all aspects of protecting data. It covers the costs of everything from identifying the causes of data losses to restoring data and potential business interruptions. The service also includes crisis communications and PR consultancy. In the event of a cyberattack, swift and expert support is critical.

Baloise therefore makes a 24-hour telephone hotline available to its customers. Support is given in three stages: “In the first stage, IT experts help customers in insured events directly over the phone. In a second step, the expert connects to the customer’s system remotely and is able to solve most of the problems that way. In a third step, a specialist on site instigates the measures required to rectify the damage,” explains Amelie Alberg, Product Manager Corporate Clients at Baloise.

The cyber insurance for business customers can be taken out online by providing just a few details at baloise.ch/cyber-kmu or via the customer advisers.

With its initiative “Baloise Digital Pathfinders”, Baloise also offers prevention training in various areas of cybersecurity.

Would you like to raise awareness of a certain aspect of cybersecurity among your employees? Please contact us at: pfadfinder@baloise.com

The Baloise Group is more than just a traditional insurance company. The changing security, safety and service needs of society in the digital age lie at the heart of its business activities. The 7,300 or so employees of Baloise therefore focus on the wishes of their customers. The best possible customer service, combined with innovative products and services, makes Baloise the first choice for people who want to feel ‘simply safe’. Located at the heart of Europe, with its head office in Basel, the Baloise Group is a provider of prevention, pension, assistance and insurance solutions. Its core markets are Switzerland, Germany, Belgium and Luxembourg. In Switzerland, with Baloise Bank SoBa, the Group also operates as a specialised financial services provider, offering a combination of insurance and banking services. The Group offers innovative pension products to retail customers throughout Europe from its competence centre in Luxembourg. Bâloise Holding Ltd shares are listed in the main segment of the SIX Swiss Exchange.