When BOXX Insurance - a Toronto-based MGA that provides small and midsized enterprises (SMEs) with solutions to protect themselves from cyber threats – pitched to join the 2020 cohort of the Lloyd’s Innovation Lab, it went something like this:
“For too long cyber insurance has waited for the disaster to happen before it responds. That’s totally the wrong call for digital threats. Cyber insurance should be there to help customers predict, prevent, respond, and recover – not just wait for the disaster to happen. No-one buys car insurance so they can smash up their car, and we think the same goes for cyber. Our mandate is to help companies be digitally healthy so that they can prevent cyber incidents from happening in the first place.”
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