WTW Unveils Cyber Solution Tailored for North American Small and Medium-sized Enterprises
WTW, a global brokerage firm, has introduced a cyber solution specifically crafted to address the requirements of small and medium-sized enterprises (SMEs) in North America.
This product targets businesses with annual revenues below $50 million, encompassing startups and pre-revenue accounts.
WTW highlighted that conventional underwriting processes often favor larger enterprises, leaving SMEs exposed to cyber threats due to limited access to affordable coverage.
In response, WTW has collaborated with leading cyber insurance carriers specializing in SME needs. The brokerage’s tailored solution facilitates straightforward access to competitive insurance quotes via self-service platforms for SMEs. Additionally, WTW has dedicated underwriting staff to cater to SMEs’ unique needs.
The solution extends policyholder resources, including tools and support, to assist SMEs in implementing and sustaining cybersecurity measures.
Jessica Klipphahn, NA Head of MM Cyber/E&O at WTW, emphasized, “This marks a pivotal effort aimed at addressing the distinct cybersecurity challenges faced by SMEs.” Klipphahn added, “Through strategic alliances with top-tier cyber insurance carriers and resource delivery, we ensure SMEs access to cost-effective and comprehensive coverage. This initiative not only resolves previous concerns but also integrates cybersecurity as a manageable component of their business strategy and enterprise risk management.”
In addition to this initiative, WTW recently announced the establishment of a team of client engagement leaders and appointed Despina Buganski as the Head of Personal Lines for its Corporate Risk and Broking North America business.