Facing a growing cybercrime threat, many small and medium-sized businesses (SMBs) lack the resources to protect themselves adequately. However, a new partnership between Blumira and Beltex aims to change the game, offering them a lifeline through enhanced cybersecurity and cyber insurance solutions.
This collaboration between Blumira, a frontrunner in security information and event management (SIEM) and extended detection and response (XDR) solutions, and Beltex, a component of the FifthWall Solutions Policy Program, aims to bolster cybersecurity insurance offerings through managed service providers (MSPs).
This partnership seeks to enhance access to superior insurance coverage, offer more competitive rates, and improve incident response capabilities for MSPs and their SMB clientele. Such advancements are critical as the cyber threat landscape evolves, posing increasing organizational risks. Despite the growing cybercrime threat, a mere 55% of businesses currently have cyber insurance. Additionally, only 19% are covered for cyber events exceeding $600,000.
Blumira’s MSP partners now gain exclusive access to Beltex’s offerings. This includes the opportunity to deliver better insurance coverage at potentially lower rates for customers utilizing Blumira’s SIEM solutions. Moreover, MSPs will have the unique chance to apply for the Beltex Certified Incident Response (IR) program. This allows them to play a pivotal role in their clients’ IR processes and even receive reimbursement for their efforts.
“Game Changer”
Jeremy Young, director of partner strategy at Blumira, hailed the partnership as a transformative development for MSPs. He emphasized the value of offering clients higher-quality cyber liability insurance as a direct result of employing Blumira’s solutions. Beltex’s acknowledgment elevates the importance of MSPs in the IR process. This presents an opportunity for these providers to receive compensation for their contributions. “Blumira’s partnership with Beltex is a game changer for MSPs. Creating an insurance product that considers the specific security tools MSPs are using to offer higher limits at lower costs is desperately needed in our space,” said Young.
Beltex policies are now accessible to MSP clients across the U.S. with annual revenues under $100 million. This offering covers 48 states with plans to expand further. Dustin Bolander, founder, CIO, and managing partner at Beltex, underscored the partnership’s aim to expedite the provision of quality policies and competitive rates to SMBs. “Together, we are shaping a landscape where businesses can thrive with the assurance of robust security solutions tailored to their unique needs,” added Bolander.
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