Carrier integration will provide full quoting & binding capabilities for over 1,000 business classes
Builders & Tradesmen’s Insurance Services, Inc. (BTIS), an insurance intermediary focused on serving small businesses with end-to-end insurance solutions, is pleased to announce the launch of an all-new cyber insurance marketplace with cyber provider At-Bay, providing comprehensive coverage for an expanded list of business types.
At-Bay is a cyber insurance provider with robust first- and third-party coverage for business up to $100 million in revenue, with policies written through Trisura Specialty Insurance Company (AM Best A- rating) and with The Hartford Steam Boiler Inspection and Insurance Company (AM Best A++ rating) as the lead reinsurer. Every cyber policy is enhanced with Active Risk Monitoring Services, which includes frequent security scans to detect vulnerabilities, and an in-house security team to help customers resolve network issues before they are exploited.
The broad market is currently accessible in 27 states with over 1,000 eligible class codes available, including recently added options for $50-100 million revenue businesses, such as retail & food services, hospitals & healthcare, finance, technology, construction and many more.
“We are excited to offer our clients access to this broad insurance option, complete with a simplified quoting and binding process,” says Paul Holbein, CEO of BTIS. “Each cyber policy will come with security services to help businesses protect themselves, including active risk monitoring and a clear action plan in the event of an attack. We look forward to expanding the reach of this valuable product and bringing coverage to more businesses than ever before.”
“BTIS has a strong reputation for providing high-quality insurance solutions to the SMB market. Their mission as a specialty line wholesaler with an end-to-end digital solution aligns very well with our mission as a digital first specialty insurance provider serving the wholesale market,” said Kristie Felton, Head of Digital Partnerships at At-Bay. “We look forward to helping them unlock access to cyber insurance products for SMBs across the country.”
According to Vantage Market Research, the global cyber insurance market is expected to grow by over 24% in the next six years – reaching an estimated $28.45 billion by 2028. The recent increase in cyberattacks and data breaches, along with new trends in artificial intelligence and blockchain tech, is expediting market growth at an unprecedented rate. As the demand for coverage rises, it is crucial for insurance providers to address the liability concerns that are unique to this market.
Cyber insurance helps protect businesses from liability in the event of a cyberattack. Having a comprehensive cyber policy is especially important for businesses that sell products or services online, use cell phones, computers or POS systems, or store sensitive data or customer information.
For additional details, visit my.btisinc.com/Products/Small-Business/At-Bay-Cyber-Insurance
About BTIS
Part of the Amynta Group, BTIS is a nationwide insurance intermediary with a small business attitude that believes in building and fostering solid relationships through communication and genuine concern for their customers. BTIS offers a wide range of commercial lines and is focused on developing and implementing cutting edge technology to provide individual service, exceptional value, ease of use, and rapid turnaround times. Visit my.btisinc.com. License #0D10271
About At-Bay
At-Bay is the cyber insurance provider for the digital age. By combining world-class technology with industry-leading insurance expertise, At-Bay was designed from the ground up to empower businesses to thrive in the digital world. At-Bay is backed by Acrew Capital, Glilot Capital, the HSB fund of Munich Re Ventures, Icon Ventures, ION Crossover Partners, Khosla Ventures, Lightspeed Venture Partners, M12, entrepreneur Shlomo Kramer, and Qumra Capital. Visit at-bay.com.