Chubb and insurtech firm JA Assure announced the launch of HaxsafeTM, a cyber insurance portal targeting SMEs looking for accessible insurance solution.

Underwritten by Chubb, the cyber insurance product offered on the platform is a comprehensive risk management solution providing clients with pre-loss risk mitigation and incident response services.

Currently available in Hong Kong SAR, Malaysia and Singapore, Haxsafe offers instant quotes and policy issuance capabilities.

The pre-loss mitigation services include complimentary access to a password management tool and regular spam tests designed to help keep organisations cyber safe.

When a cyber incident occurs, clients can access the Chubb Incident Response Platform, an end-to-end process, developed to contain the threat and limit potential damage to their businesses.

The incident response manager assigned to the client will assist to triage the issues, develop a plan of action to contain the threat, as well as appoint specialist vendors to assist with loss prevention and business recovery.

Japhire Gopi, CEO at JA Assure said,

“Haxsafe will be a gamechanger for SMEs as it simplifies the insurance buying process for small business owners who simply do not have the time and resources to go through lengthy insurance purchase processes.

We are in the business of innovation and I’m excited to make insurance more accessible to those who need it.”

Grant Cairns, Regional Head of Property & Casualty, Asia Pacific at Chubb said,

“Our data shows that SMEs, like large organisations, are vulnerable to cyber attacks, despite the popular belief that SMEs are too small to be of interest to threat actors.

I’m pleased that we are now able to bring Chubb’s cyber risk management solution closer to SMEs, underscoring our commitment to better serve the small commercial segment.”