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Stoïk: New cyber insurance for SMEs starts in Germany
According to a report by www.it-finanzmagazin.de, Stoïk, a French start-up that is already France's leading underwriter for cyber risks to SMEs, has decided to expand its business in Germany. The company plans to offer proactive cyber insurance as well as comprehensive prevention tools to reduce loss rates in the German cyber market and to build a nationwide network of brokers. According to Stoïk's own information, nine out of ten German companies have already been victims of a cyber attack, resulting in total annual damage to the German economy of an average of 200 billion euros. Stoïk offers active cyber insurance specifically for SMEs and brokers, complemented by its in-house security team Stoïk-CERT to ensure active risk management. …
Stoïk: New cyber insurance for SMEs starts in Germany
According to a report from www.it-finanzmagazin.de,
Stoïk, a French start-up that is already France's leading underwriter for cyber risks for SMEs, has decided to expand its business in Germany. The company plans to offer proactive cyber insurance as well as comprehensive prevention tools to reduce loss rates in the German cyber market and to build a nationwide network of brokers.
According to Stoïk's own information, nine out of ten German companies have already been victims of a cyber attack, resulting in total annual damage to the German economy of an average of 200 billion euros. Stoïk offers active cyber insurance specifically for SMEs and brokers, complemented by its in-house security team Stoïk-CERT to ensure active risk management.
Stoïk's fully digital processes are designed to offer brokers an efficient application process and underwriting capacity for customers with a turnover of up to 500 million euros. In addition, SMEs are offered regular security scans, phishing simulations and an educational program to avoid risks. The company's expansion in Germany will be led by Franziska Geier, Markel's former managing director.
The creation of a nationwide broker network and the implementation of products in Germany are part of the expansion plans of Stoïk, which has only been on the market for two years. The company has already attracted well-known investors, including Munich Re Ventures, Opera Tech Ventures, Alven Capital and Andreessen Horowitz.
The introduction of Stoïk in Germany could have a profound impact on the German cyber insurance market. The combination of proactive cyber insurance and comprehensive prevention tools could lead to a reduction in loss rates and reshape the market. In addition, the fully digital application routes and efficient premium stability could be market-changing factors through which Stoïk could contribute to success in Germany.
Franziska Geier's expertise in the commercial and cyber insurance market as well as Stoïk's experience in the cyber insurance industry could support the company's expansion and introduction in Germany and help to rationally design the complex insurance items to create greater security for customers and brokers.
Read the source article at www.it-finanzmagazin.de