Canadian Insurtech, BOXX Insurance Inc., announces its plan to launch the world’s first fully-integrated cybersecurity and insurance solution in Latin America.
BOXX Insurance announced today that it will be expanding the launch of Cyberboxx— its smart cyber insurance solution — to serve the Latin American business market.
“Latin America is an important piece in our global market strategy to ensure small-to-medium-sized businesses are safe in this connected world,” said Vishal Kundi, BOXX Insurance’s Chief Executive Officer. “We’ve seen Latin America embrace innovation and digital transformation to improve the day to day lives of consumers, with one of the highest adoption rates of social media. Smart technology is everywhere, from proactively alerting citizens about traffic conditions to inclement weather, and other hazards. But as more devices are connected to the internet, cybercriminals have more and more opportunities to cause havoc. As a result, Latin American businesses are now as exposed to cyber dangers as businesses on any other continent.”
Cyberboxx takes the guesswork out of cyber risk for businesses, who do not have their own cybersecurity team. Cyberboxx combines security, technology, and insurance to help clients predict and prevent cyber threats. In the case of an attack, the insurance provides members with the specialist resources required to contain the risk and minimize any damages to their business and clients.
BOXX Insurance announced that Chile will be the first launch market for Cyberboxx, through a partnership with local insurer Unnio Seguros Generales S.A. (UNNIO S.A.). “This announcement is very exciting for both organizations. It represents another solid step in our journey to be at the forefront of digital insurance, and enables us to offer new, innovative solutions to our customers”, added Fernando Concha Mendoza, Member Board of Directors for UNNIO S.A.
BOXX Insurance will be supported in Latin America by the leading innovations incubator, Bullfrog Ventures. Bullfrog offers support to Insurtech start-ups looking to scale quickly and develop market leading propositions. “We are delighted to support BOXX Insurance in their international expansion throughout Latin America where,” our network and expertise will prove to be a powerful combination to accelerate success, said Hilario Itriago, Bullfrog Ventures Chief Executive Officer.