BOXX, a new insurance MGA based in Toronto, officially launched its flagship product Cyberboxx today with a clear mission – to make the internet a safer place for small to medium sized enterprises and by doing so, helping them become compliant with the new data privacy legislation expected to become law this November.
In November this year, Canada will join a host of other governments around the world in legally requiring that organizations, of all sizes, raise their game in how well they secure their data, monitor security threats and respond and recover from a breach if the worst happens. Cyberboxx offers small-to-medium size enterprises (SMEs) an affordable digital risk management tool to predict and remediate potential security threats across their organization plus the resources and funds to respond and recover from a hacking breach.
BOXX’s team includes technology entrepreneurs, academics and cyber insurance innovators. “There’s been an explosion of cyber crime targeting SMEs and neither traditional cyber security or insurance in isolation can deal with the new threat,” says Vishal Kundi, Chief Executive Officer and Co-Founder, “We’ve created a new type of company for a new type of risk”.