Brit launches e-trading cyber portal

Global specialty re/insurer Brit has launched an online platform for cyber risks. The e-trading portal will launch in both the UK and the US, targeting SMEs in both regions.

Brit said the portal will give brokers an agile, user-friendly outlet for Brit’s cyber underwriting capabilities, allowing them to quote and bind in minutes, entirely online, with a maximum of four question responses.

The portal is underpinned by Brit Cyber’s preventative risk management and breach response service, with clients having access to training modules, security trend updates and downloadable content aimed at helping businesses and their employees protect against an event.

Brit is currently one of the largest writers of cyber at Lloyd’s and has ambitions to build on this track record to grow its global cyber presence. Brit’s cyber suite of products and services now ranges from coverage for large global corporates through to small business owners, all underwritten by Brit’s global team based in London and Chicago.

Matthew Wilson, CEO, Brit, said: “Our clients are only able to grow and succeed by taking control of their risks and, by ‘writing the future’ Brit plays a critical role in this. This mindset is core to Brit Cyber Services, recognising that as cyber risks continue to evolve it is increasingly important to help businesses take the right steps to mitigate possible breaches while making it as easy as possible for brokers and their clients to access the best insurance cover. Brit’s strong focus on prevention alongside the launch of our portal underpins our award-winning team’s commitment to writing the future of the cyber market.”

Nick Davies, president, Brit Americas, added: “Brit Cyber Services has rapidly built a strong US presence and the launch of our cyber portal is an important expansion of our offering. The agility of our fully online end to end system and the integration of our comprehensive risk management services is a compelling proposition for both brokers and clients in the US market.”