Chubb and JA Assure launch cyber platform for SMEs

Chubb and JA Assure have launched HaxsafeTM – a cyber insurance portal targeting SMEs looking for an easy and accessible insurance solution. Currently available in Hong Kong SAR, Malaysia and Singapore, Haxsafe offers instant quote and policy issuance capability.

Underwritten by Chubb, the cyber insurance product is a comprehensive risk management solution providing clients with pre-loss risk mitigation and incident response services.

In 2021, 34.3% of cyber claims handled by Chubb were filed by small businesses (under $25m annual revenue).

Grant Cairns, regional head of Property & Casualty, Asia Pacific at Chubb, said, “Our data shows that SMEs, like large organisations, are vulnerable to cyber attacks, despite the popular belief that SMEs are too small to be of interest to threat actors.”

The pre-loss mitigation services include complimentary access to a password management tool and regular spam tests designed to help keep organisations cyber safe.

When a cyber incident occurs, clients can access the Chubb Incident Response Platform, an end-to-end process, developed to contain the threat and limit potential damage to their businesses.

The incident response manager assigned to the client will assist to triage the issues, develop a plan of action to contain the threat, as well as appoint specialist vendors to assist with loss prevention and business recovery.

Japhire Gopi, CEO at JA Assure, said, “Haxsafe will be a gamechanger for SMEs as it simplifies the insurance buying process for small business owners who simply do not have the time and resources to go through lengthy insurance purchase processes. We are in the business of innovation and I’m excited to make insurance more accessible to those who need it.”