Cyber risk and incident response specialists STORM|Guidance, creators of the world’s first Cyber Insurance comparison engine, Cyber|Decider , have appointed Kelso Consulting to help launch and build awareness through the UK’s insurance media.
Neil Hare-Brown, the CEO of STORM said: “Until now, the inability of brokers to easily compare policies has been a real handbrake on the development of the cyber insurance market. Cyber|Decider makes this a thing of the past, effectively providing brokers and others with a straightforward comparison for these complex and variable policies.
“For instance, for the numerous brokers without a specialist cyber team, analysing policies involves a lot of work for a small part of the overall client premium. Consequently, many only offer one policy, but this will invariably not cover areas that are important for some clients.
“At launch, Cyber|Decider has detailed information and comparisons of 16 policies accounting for 80% of the market. It is a powerful tool for enabling brokers to quickly recommend the best policy for clients, and it is also proving popular with lawyers and others in the market, such as large corporates who usually arrange their own insurance directly.
“For our target audience of insurance brokers, our PR objective was to get plenty of coverage for our launch, and then regularly feature in the insurance press thereafter as an expert source on cyber insurance.
“We chose Kelso because we deliver our services exclusively to the insurance markets and wanted a PR specialist with similar focus in the business insurance sector.
InsurTech PR launch: focus on business issues not tech features
Tim Prizeman of Kelso Consulting said: "The large and rapidly growing cyber criminal threat is a huge media theme in 2017, particularly following the high profile WannaCry ransomware attack in the summer. With 90% of businesses without cyber insurance, it is a market that is set to grow but has struggled without the right tools. Cyber|Decider addresses this.
“With innovative InsurTech products it is easy for launch campaigns to overly-focus on the features and tech. However, insurance trade publications are not interested in these, they want to know about commercial issues, such as how such a product will solve important problems faced by brokers and what insights are being offered on this growing market.
“The insurance market continues to be a sector where relationships and facetime matter, so building up press awareness and relationships for Cyber|Decider, as well as coverage, is an important priority for any campaign targeting the insurance sector.”
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