Apple launches into cyber insurance with Cisco

Businesses could reap insurance rewards from working with tech giants

Apple launches into cyber insurance with Cisco

Insurance News


The CEO of Apple has revealed that the firm is working with global IT company Cisco to seek discounts on cyber security insurance for businesses – providing that they mostly use products from the companies.

Tim Cook, speaking at a Las Vegas event alongside Cisco CEO Chuck Robbins, said he believed that the combination of gear from the two firms was more secure than the use of competing technology, such as Google’s Android.

Cook said: “The thinking we share here is that if your enterprise or company is using Cisco and Apple, the combination of these should make that (cyber-security) insurance cost significantly less. This is something we’re going to spend some energy on. You should reap that benefit,” CNBC reported.

In a company blog post, Cisco revealed that the two companies were “collaborating with insurance industry heavyweights… to offer more robust policies to our customers.”
The IT giant, which has veered towards cyber security in recent years, said that it will create systems that allow for continuous security monitoring and for insurers to double-check that the systems are set up as intended.

Apple, known for its trendy consumer devices, has turned to the business user market in recent years, adding additional security features to its iPhones and iPads. Two years ago, Cook reported that Apple was producing at least $25 billion annually in revenue selling to businesses.

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