Acturis, the leading Software-as-a-Service provider to the insurance industry, is expanding the e-trade capabilities of its award-winning platform with the launch of its first cyber add-on product by HSB Engineering Insurance.
The launch sees HSB Engineering Insurance, part of Munich Re, become the first insurer to go live with the cyber add-on solution on the Acturis platform.
Following the successful launch of the HSB suite of construction insurance products on Acturis last March, the specialist engineering and construction insurer worked with Acturis to build a cyber product that will strengthen the insurer’s e-trade offering.
Brokers can now quote and bind the HSB cyber add-on to other lines of business as an additional cover, alongside package policies.
The policy, aimed at SMEs, provides cover for:
- Computer system damage and business interruption
- Data-breach response
- Cyber liability
- Cyber crime
The HSB cyber add-on product will also soon be available on HSB Fast Track, the insurer’s broker online trading platform launched earlier this year, as a part of their strategy to enable brokers to trade their products quickly and easily.
Paul Cullum, Alternative Distribution Manager at HSB, commented:
“HSB is known for its specialist underwriting expertise, which is why we are delighted to be leading the first release of a cyber add-on product offering on Acturis. The availability of our products on Acturis is an important part of our online distribution strategy and reflects our commitment to making engineering and technology products easy for brokers to trade electronically.”
Gregory Toothe, Specialty Lines Product Manager at Acturis, commented:
“Working with HSB, we are delighted to expand the type of Cyber offering available on the Acturis platform to include Add-Ons, not just stand alone. In the fast-moving Cyber market, creating a standard coverage option as an Add-On gives our Brokers increased flexibility on what they are able to offer their clients.”
Acturis is the leading, award winning Software as a Service provider to the insurance industry. The Acturis SaaS platform is an administration, distribution and underwriting platform used by insurance brokers and underwriters. It now has over 20,000 users across over 450 sites.
Acturis operates in the general insurance market, supporting both personal and commercial lines. The company leads the way in real-time integrations with insurers and has won industry Service Provider of the Year awards and the British Insurance Technology Award.
Acturis has been awarded Business Partner of the Year 2018 at the Insurance Times Awards and Outsourced Partner of the Year 2016 at the British Insurance Awards.
The Acturis Group also includes NIS, ICE InsureTech, Acturis Deutschland and Zycomp Systems.
NIS is a leading provider of software solutions to the travel insurance, assistance and health insurance markets with customers in more than 40 countries.
ICE InsureTech products are enterprise-grade modular software solutions for the management and processing of insurance claims, policies, billing and rating, with integrated business intelligence and insurance analytics.
Acturis Deutschland is the leading provider of insurance price and terms information to the German insurance market and the largest provider of broker administration and trading software in Germany.
Zycomp Systems Limited was originally founded in 1987 and provides modern, cost effective software for the Canadian Insurance Industry.
About HSB Engineering Insurance
HSB Engineering Insurance, as part of Munich Re, is a leading specialist provider of engineering and technology insurance and inspection services. HSB Engineering Insurance helps clients reduce risk through a range of innovative insurance products including construction, cyber, equipment breakdown and energy. HSB Engineering Insurance is the UK-based arm of Hartford Steam Boiler, one of the world’s leading equipment breakdown insurers. The HSB Group of companies holds A.M. Best Company’s highest financial rating, A++ (Superior).