CFC, the specialist insurance provider, pioneer in emerging risk and market leader in cyber, announced the launch of its ground-breaking trading portal, Connect, and free on-demand Cyber Masterclass series in New Zealand to make trading cyber easier for brokers.
CFC is the only cyber market globally with the ability to quote risks up to $50m NZD off of a single question, and Connect delivers a smarter, faster and easier experience for brokers to generate comprehensive quotes tailored to their clients' unique risk profiles.
With just one piece of information – the client’s web address – brokers can auto-rate and bind CFC’s leading Cyber Proactive Response (CPR) product and deliver the broadest, clearest coverage available on the market to their SME clients in minutes.
“With SMEs making up 90% of businesses in New Zealand, our goal is to equip brokers with the knowledge and tools
they need to ensure their clients have the right coverage to protect themselves against evolving cyber risks. Connect offers brokers a frictionless experience, delivering a smarter and faster way to get bindable quotes in minutes,” says Philippa Davis, CFC’s International Cyber Practice Team Leader.
Connect boasts an intuitive interface and cutting-edge trading capabilities, including:
Single-question quoting: Using a single piece of data, brokers can generate a comprehensive cyber
insurance quote tailored to their client’s unique risk profile, as well as coverage variations most commonly requested by similar businesses.
Broker self-service: Unlike traditional quote and bind platforms, Connect enables brokers to adjust quotes – including limits and deductibles – without underwriter involvement, as well as bind quotes with a single click.
Limit and claims profile: In addition to a cyber quote, brokers receive a limit and claims profile based on their clients’ size, industry and location. These benchmarks give clients visibility into the most common limits purchased and the most common claims made by their peers. Brokers can also access industry-specific cyber claims resources and educational materials to help their clients better understand the benefits of cyber insurance.
Access to CFC’s expert cyber underwriters: If necessary, brokers can connect with CFC’s cyber underwriting team, one of the largest in the world, through the portal, ensuring the same commitment to efficient service brokers have come to expect from CFC.
And to help all New Zealand brokers become cyber experts, CFC has launched its new free on-demand video learning series, Cyber Masterclass.
Cyber Masterclass
Fully accredited by the Insurance Brokers Association of New Zealand (IBANZ) and the Australian and New Zealand Institute of Insurance and Finance (ANZIF), the series is designed to improve brokers’ knowledge of cyber insurance and build their confidence in selling cyber to clients. CFC’s Cyber Masterclass explores a wide range of topics, including: the evolution and economics of cybercrime; the life cycle of a cyber claim; policy coverage and insuring clauses; cyber security controls and attack prevention; client conversation techniques, including how to approach the topic; and overcoming objections.
“Cyber insurance is one of the most dynamic lines of business in the world of insurance right now, and the fundamentals of cyber should be central to any broker training, as it’s no longer a specialist product. Yet the reality is that there remains a knowledge gap amongst brokers,” said Davis. “We view it as our responsibility to help brokers develop their understanding of this class of business and help every one of them become a cyber expert.”
CFC has also created a free-to-access library of resources to further support each broker’s individual learning journey. These include: CFC’s latest guide to cyber insurance; real-life case studies illustrating how CFC’s policy responds to cyber events; CFC’s interactive cyber policy; and client conversation starters and tips for handling client objections.
Brokers interested in building their knowledge and confidence when selling cyber to clients can tune in to CFC’s educational webinars on Wednesday 3 September and Thursday 18 September.
Brokers can sign up on www.cfc.com
About CFC
CFC is a specialist insurance provider, pioneer in emerging risk and market leader in cyber.
Our global insurance platform uses cutting-edge technology and data science to deliver smarter, faster underwriting and protect customers from today’s most critical business risks. Headquartered in London with offices across Europe, North America and Australia, CFC has over 1,000 employees and is trusted by more than 200,000 businesses in 90 countries.
