ProRisk runs survey to bolster its cyber product for SMEs

Professional Risk Underwriting Pty Ltd (ProRisk), recipient of Insurance Business Australia’s 2022 5-Star Technology award, is conducting a survey to collect market feedback on its Cyber & Privacy Liability product.

The Cyber & Privacy Liability product was designed for the SME market and includes cyber extortion & ransom payment cover, privacy statutory liability cover, cybercrime data and application restoration costs, social engineering cover, among other benefits. It was launched in January 2021 and is available exclusively on ProBind, ProRisk’s proprietry quote/bind trading platform.

“We want to make ProRisk’s Cyber & Privacy Liability product your cyber policy of choice and want to hear your feedback about how we can improve it,” said Hamish McDonald Nye, ProRisk’s executive director. “As with any new product that gets released to the market, there’s always a period where underwriters may need to turn the dials to make sure we get the product right. We think we’ve built something truly unique and really competitive but need more feedback from our intermediaries to help us build the best cyber product in the SME market.”

“There’s only so much feedback that you can get by sending out quotes and seeing if the clients bind cover,” added Vanessa MacDonald, financial lines team leader at ProRisk. “Brokers are best placed to help provide us with feedback on what they think of our platform, rates, our incident response panel and platform.”

ProRisk’s cyber survey is open to Australian insurance brokers until the end of November. Participants will automatically be entered into a draw to win a $500 gift card. The survey can be accessed through this link, with terms and conditions for the competition available at the ProRisk website.