Cyber Insurance Blog

Streamlining the Process: Compare Cyber Insurance Quotes Without the Need for Duplicate Data Entry

Streamlining the Process: Compare Cyber Insurance Quotes Without the Need for Duplicate Data Entry

A cyber insurance policy has become one of the most important investments that business owners can make. As cyber attacks become more common and complex, this coverage could make all the difference for your clients. Many small businesses are forced to close following a cyber attack and a cyber insurance policy helps protect their future and allow business owners to focus on growing their company.

Once your clients are on board with securing coverage, what’s next? The process of quoting and comparing cyber insurance can be repetitive and cumbersome. With ProWriters, you can find the best possible protection for your clients and offer multiple cyber insurance quotes in just minutes using our Cyber IQ Comparative Rate Platform.

Cyber Crime: Why This Volatile Threat Is Keeping Business Owners Up At Night

Cyber attacks have become the third-largest global threat we face. Every day hackers are gaining unauthorized access and stealing everything from personal information to trade secrets. Our information security has never been more threatened.

These cyber crimes threaten businesses and organizations. Some of the most commons threats include:
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  1. Social Engineering: These attacks rely on manipulation to trick a user into giving away sensitive information that can be used to gain access to unauthorized systems or accounts.
  2. Ransomware: A form of cyber extortion, these attacks encrypt data and deny access to a user until a ransom demand is paid. (To learn more about ransomware, download our eBook here.)
  3. Malware: These attacks utilize software to intentionally cause damage to a network, website, software, or server.

As these threats evolve on a daily basis, it’s important that your clients stay current so they’re always aware of the latest trends to watch for.

Cyber Insurance Coverages: How to Protect Your Clients

With a cyber insurance policy in effect, your clients can rest assured that they’re protected. When a cyber attack hits, they’ll be prepared with a number of broad coverages, including:

First-Party Coverages
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  • IT Forensic Costs
  • Notification Costs
  • Credit Protection Costs
  • Crisis Management Costs
  • Crime & Social Engineering Costs

Third-Party Coverages

    • Claims related to the breach of Personally Identifiable Information (PII)
      • Credit card numbers
      • Social security numbers
      • Bank account information
      • Personal health information
      • Sensitive corporate information

  • Third-party liability claims related to:
    • Breach of contract
    • Negligent protection of data
    • Network security breaches
    • Transmission of software viruses
    • Denial of service attacks
    • PCI fines and penalties

    Additional Coverages

    • Multimedia coverages
      • Online advertising
      • Intellectual property
      • Copyright and trademark infringement
      • Libel or defamation claims
    • Cyber Extortion, including ransomware demands
    • Cyber business interruption
    • Hacker damage or digital asset damage

    Cyber Insurance Quote: How ProWriters Streamlines the Process

    The process of buying and selling cyber insurance hasn’t always been easy. Applications often require data entry five, six, or seven times, making it difficult and time consuming to compare quotes and coverage options.
    An African American business professional sits at his desk across from an African American client wearing a black sweater.
    With ProWriters, our Cyber IQ Comparative Rate Platform has eliminated the need for duplicate data entry to give you a quick, simple process. You can now get multiple quotes for cyber insurance coverages from top carriers and compare in just minutes.

    Hear it directly from a ProWriters client:

    Mike Esparza, an independent broker and the second generation owner (after his father) of All-Cal Insurance Agency, has consistently turned to ProWriters for his clients, who are mostly non-profit organizations.

    Esparza found ProWriters through an insurance conference and soon found ProWriters to be his preferred cyber provider. Ever since, he estimates that he saves approximately an hour per client, allowing him to work quickly and efficiently. Our Cyber IQ Platform allows Esparza to get instant results and a policy in place for his clients.

    Esparza said that he finds the coverage comparison to be a great tool to evaluate quotes from five to six different companies at a time and the online rating and binding are “huge win” for his clients. When going through ProWriters, Esparza says that the process is consistently the most efficient.

    Register now to get started using our Cyber IQ Comparative Rate Platform to get cyber insurance quotes and compare them instantly!

    Take Advantage of ProWriters’s Resources

    At ProWriters, we’re always striving to make our brokers’ jobs easier. We offer a number of FREE marketing and educational materials to help bring your clients up to speed and help them get the coverage they need.

    To learn more about how you can help keep your clients protected, download our FREE whitepaper, The Six-Step Guide to Becoming Your Client’s Cyber Expert.

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