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BNP Paribas Leasing Solutions, Generali Partner to Launch Cyber-Insurance

July 07, 2020, 07:10 AM
Filed Under: Industry News

Due to the increasing number of cyberattacks, BNP Paribas Leasing Solutions and Generali decided to come together and offer BNP Paribas Leasing Solutions’ clients an insurance and related services solution enabling them to protect themselves against cyberattacks.

BNP Paribas Leasing Solutions wanted to not only spread awareness among its clients towards cyberattacks but to go beyond the usual financing of professional equipment and provide a concrete solution against this risk.

“We already provide insurance services to our clients with the traditional financing of their professional equipment, but we wanted to go further and offer them a simple and efficient solution in case of cyberattacks, which are becoming increasingly common and damaging,” said Karine Dufour, Corporate Head of Insurance at BNP Paribas Leasing Solutions.

Generali already offers a “Digital Protection Guarantee” with the aim to broaden its target base in the SME and property and casualty insurance market through a new distribution channel and via a completely digital subscription mechanism.

“This partnership is an opportunity for Generali to diversify its distribution channels, by offering affinity solutions to key targets identified with new players,” said Zeina Assaf, Director of Insurance Operations and Solutions and in charge of the Partnerships for the SME and property and Casualty Insurance Market.

A resurgence in cyber-attacks during lockdown, especially those targeting SMEs

SMEs in particular are a prime target for cyber-attackers (the large multinationals having mostly deployed robust IT security frameworks). 66 percent of SMEs worldwide reported a cyber-attack in the last 12 months. This is a growing threat, as SMEs experienced a 59 percent increase in attacks in 2019, the largest increase of any size of enterprise2.

See the full release here.

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