Generali launches cyber security subsidiary

Italian insurer Generali has launched a new cyber insurance function and a startup company to offer innovative cyber risk assessment solutions through its web-based platform in Europe, Asia and the Americas.

The wholly owned subsidiary GeneraliCyberSecurTech and the newly-launched function will develop and coordinate the group’s global cyber risk activities, including preventing cyber-attacks, breach response, and pre- and post-event support services.

“Developed using innovative technologies based on machine learning and artificial intelligence, the tool’s considerable sophistication enables the real risks to which the customer is exposed to be assessed, providing detailed information that the customer can use to build a plan to mitigate risks and transfer residual risks, both from a technology and insurance perspective,” said Remo Marini, CEO of the CyberSecurTech startup.

Marco Sesana, country manager Italy and global business lines, commented: “Today’s announcement confirms Generali’s commitment to cyber security, an increasingly significant and strategic space for individuals, companies and organisations. Generali, as a global insurer, intends to be at the forefront of identifying and mitigating this type of emerging risk, offering innovative and relevant solutions for our customers. Leveraging the new function’s expertise and the group’s technological innovation, which is the cornerstone of CyberSecurTech startup, we will able to support our customers’ needs.”

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