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Insurance technology provider Acturis has partnered with QOMPLX:UNDERWRITING to expand the e-trade offering of its award-winning platform with the launch of the parametric multi-peril insurance product WonderCover™.
The Wondercover product, focused on SMEs and backed by Chaucer, the international specialty (re)insurance group, is now available to brokers via the Acturis platform as a standalone policy or as an additional cover to other lines of business, giving Acturis brokers increased flexibility on what they are able to offer their customers. QOMPLX is a leading provider of cyber security and data analytics technologies, inciting change in the way insurance cover is brought to the market, and eliminating gaps found in traditional insurance offerings.
The Wondercover policy provides combined cover for cyber breach, IT interruption and terrorism, responding to the market demand for smart cyber and terrorism solutions needed by SMEs.
Thomas Stuart, Product Development Director at Acturis, commented: “Over the last two years Acturis has worked with a number of insurers to launch e-trade products offering cyber cover. Our latest product introduces a new MGA – QOMPLX – into this market. We are excited to give our customers another option for getting an e-trade cyber policy on Acturis; we believe more choice will accelerate the growth of this product class even further.”
Dr Raveem Ismail, Chief Underwriting Officer at QOMPLX:UNDERWRITING, said: “WonderCover™ protects against two of the most critical business risks facing SMEs. It provides certainty and transparency, a straightforward application process, and prompt payment of claims for cyber and terrorism disruption. Claims are paid if the triggers occur and the insured has no need to prove the size of their loss. We are very pleased to be launching this new offering with Acturis, whose e-trade platform is the ideal way for brokers to access the product quickly and easily.”