Partnership pairs cyber insurance coverage with preventative protection services for the digital self.
F‑Secure and Allianz Partners, a world leader in B2B2C insurance and assistance, are collaborating to develop a comprehensive cyber security suite, combining cyber security prevention, protection and insurance, delivered through Allianz, F‑Secure and their partners.
The new joint partnership, which will roll out in the second half of 2023, aims to offer a comprehensive package of cyber security and cyber care insurance, including: one protection for all devices, browsing & banking protection, virus malware protection, ID monitoring and parental control.
This new solution follows a successful pilot of F‑Secure Internet Security and ID Protection insured by Allianz Partners in Switzerland, that received excellent ratings of “Good” or “Very good” from 88% of survey respondents. Likewise, 85% said that cyber security services add new value to the insurance and services offered by Allianz Partners.
Awareness of digital threats is on the rise
A recent F‑Secure survey found that a full three out of four, 75%, of consumers say they worry about their online safety. And nearly two-thirds, 64%, believe that their cyber threat risk will increase in the next 12 months. Through this new partnership, Allianz Partners and F‑Secure are responding to a growing concern faced by consumers resulting from the demarcation between physical and digital worlds fading at a rapid pace.
Laurent Floquet, CEO of Mobility & Assistance at Allianz Partners, commented: “As the internet is embedded deeper and deeper into our daily lives, maintaining our digital life becomes increasingly important to prevent the negative effects of cyber attacks, such as identity theft, financial loss and psychological consequences. At Allianz Partners, we aim to be proactive in helping secure the digital footprint of our customers and accompany them at each step to ensure that they can enjoy the convenience of digital life with full peace of mind.”
“A sense of security on the internet is the most important thing we can offer our customers,” said Timo Laaksonen, F‑Secure President & CEO. “That’s why merging brilliantly simple cyber security with the confidence that comes with insurance is a perfect fit. Together with Allianz Partners, we want to protect consumers on the internet through effective cyber security, yet in the unlikely event of an incident, cyber care insurance will help deal with the consequences.”
Consumers expect embedded security solutions
More than seven out of ten consumers see insurance companies as trusted providers of internet security, slightly preferring insurers over both online and retail stores. 84% of consumers also expect home insurance to contain internet security and insurance for cyber crime, presenting the opportunity for insurance companies to extend their offering and respond to a growing consumer need.
“How people adopt cyber security services is rapidly transforming,” Laaksonen added. “The increasing number of digital moments to protect and increasing online safety concerns create a growing opportunity for insurance companies, and other trusted providers, looking to grow their business with value-added services that gel well with their core offering.”
