Tech Mahindra, Surance.io partner on cyber protection solutions in insurance sector
Tech Mahindra, a global provider of digital transformation services, announced a strategic partnership with Surance.io, a personal cyber insurance platform. This partnership is designed to fortify digital transformation within the insurance sector by offering advanced cyber protection solutions. Key features include round-the-clock expert support, artificial intelligence (AI) based threat detection tools, and customized guidance against cyber-attacks.
Tech Mahindra Sets Sights on Untapped Personal Cyber Insurance Market
Vivek Agarwal, President – APJI (Enterprise), Corporate Development, Tech Mahindra, commenting on the cyber protection solutions partnership, stated, “The personal cyber insurance market is growing rapidly and remains relatively untapped. This presents a significant opportunity for us to create a strong presence in this market. Our offering of comprehensive end-to-end products in this domain places us in a favorable position for cross-selling and appealing to new market segments.
“The partnership with Surance.io will fuel the new era of cyber protection standards and steadfast our dedication to digital transformation and innovation within the global insurance industry. Together, we will redefine the benchmark for tech support excellence and spearhead a global revolution in cyber protection that will set a powerful precedent for the entire tech sector and insurance industry.”
Global Multilingual Support to Drive Enhanced CX with Cyber Protection Solutions
The partnership will enable Surance.io to tap into Tech Mahindra’s multilingual tech support capabilities, facilitating communication in over 20 languages to provide seamless services for an enhanced customer experience (CX). Advanced cybersecurity tools and services, such as anti-phishing verification, social account protection, and network threat prevention, will also be offered as part of the package.
Insights into the Financial Damages Caused by Cyber Attacks
Saar Bar, Co-Founder and CEO of Surance.io, said, “In 2022, cyber-attacks caused $10.3 billion in financial damage in the US, compared with $2.7 billion in 2018. In the world of cybersecurity, consumers’ end-to-end solutions are largely ignored and underserved due to lack of personalized and efficient solutions, timely responses, and effective communication. To address this, with Tech Mahindra’s multilingual expertise, Surance.io is ready to provide seamless services to a diverse global clientele. Surance.io can now partner with any insurance company in almost any language, making cyber protection accessible to all.”
Focused Investment and Expansion in InsurTech
In 2022, Tech Mahindra acquired a 25% equity shareholding in Surance.io, marking a significant investment in expanding its InsurTech offerings globally. This cyber protection solutions partnership aligns with Tech Mahindra’s DigitALL philosophy, which emphasizes comprehensive business transformation through investments in emerging technologies and solutions tailored to the evolving needs of insurance customers.