Surance.io: making personal cyber resilience accessible & affordable for everyone
With a growing dependence on the internet for basically everything, the concerns for cybercrime are growing. These include cyber extortion, valuable data loss, cyberbullying, identity theft, financial fraud, personal information breach and reputational harm.
Insurers see the need for cyber insurance and are developing specific propositions to this end. At the same time, they realise that to get this done they need new expertise and tools, including the right technology for prevention and cybersecurity experts for immediate professional response in case of a cyberattack.
Surance.io offers a white-label mobile app to complement a cyber insurance offering. Its solutions are end-to-end, proactive and aimed at prevention, enabling insurers to offer a frictionless product to policy holders. Prevention is key, as cyber claims can be very costly.
Surance.io operates the policy following production, through risk assessment, ongoing prevention and personalized alerts, 24*7 AI bot & human personal advisor for cyber issues and response to stop attacks, restore data, social accounts and devices, replace physical devices and more. Extending an insurer’s portfolio at a minimum effort and maximum ROI.
How does it work?
Surance.io created the concept of one-stop-shop to increase cyber resilience for personal users (meaning consumers). It operates in a 360o model: prevention, immediate support in case of a cyber-attack and full recovery right after, including replacing a device replacement and restoring it as needed. Its solutions are broader than antivirus or ID Theft Fail and covers a full suite of solutions that address all aspects related to personal cyber safety.
Surance.io’s solution is a one-stop-shop that presents the new generation of proactive and preventive cyber-safety insurance policy. The interaction is made simple with a dedicated mobile cyber App, providing users with ad hoc services such as security plans, safety alerts, 3-tier support for claim management and 24/7 AI & human support. The App may also include loyalty programs and incentives to encourage users for a safe cyber behaviour.
The white-label full stack solution allows insurers, telcos, and other partners to launch a frictionless product of cyber protection service backed by insurance within a few weeks.
By adding this innovative product to their portfolio, partners boost customer retention, increase customer cross-buying intentions, enhance trust and affective commitment resulting in higher renewal rates.
Why did we select Surance.io to present at DIA Amsterdam 2022?
With cybercrime becoming more of an issue due to increased activity online, protection against it becomes more and more important.
Surance.io offers a new approach to return to a feeling of safety while using online services and connected devices. It a three- tiers solution to 1. prevent cyber-attacks, 2. block them and 3. restore damages. And all of this covered in a cyber insurance or warranty.
At DIA Amsterdam, Saar Bar, Co-founder of Surance.io, shared ‘The Tale of Surance’ to make everyone aware of the risks of the Internet and introduce the Superhero Surance.io.
Who is surance.io?
Surance.io was founded in 2017 by Saar Bar and Darren Gradus. Today the company has offices in the USA, Canada and Israel. It raised $10 million in funding, with Tech Mahindra as a main investor. The company works with seven insurance companies in three territories, servicing 35,000 policies to-date, including Lloyds, Swiss Re and Best Buy among its main partners. It operates over 30K active policies in North America, Israel and Singapore.
Top Israeli insurtech startup for 2022 (by InsurTech Israel News), listed as InsurTech100 company in 2021 (by TheInsurTech100).