In a strategic cyber insurance alliance, Upfort and Arch Insurance have joined forces to enhance cyber resilience for small and medium-sized enterprises (SMEs). The collaboration aims to “transform” the cyber insurance landscape by prioritizing broad coverage, competitive pricing, integrated security solutions, and a digital experience through group programs developed with brokers.
Cyber insurance premiums are expected to surge by 20 percent annually until 2025. The partnership seeks to respond to the growing need for comprehensive coverage against evolving cyber threats across diverse markets. Upfort’s cutting-edge cyber security and insurance platform, integrated with Arch’s industry-leading insurance solutions, accelerates the global journey toward cyber resilience.
“Fastest-Growing”
Managing Director of Upfort, Josh Riley, expressed enthusiasm about the collaboration, stating, “We’re excited to join forces with Arch Insurance to revolutionize how cyber insurance is bought and sold.” The collaboration empowers brokers to efficiently serve traditionally harder-to-insure organizations amid changing market conditions, utilizing powerful loss control, automated underwriting, and a user-friendly, low-touch process.
In an industry first, Upfort is embedding cyber security solutions within every Upfort program policy at no additional cost. This innovative approach positions Upfort and Arch Insurance to lead the pack in the fastest-growing commercial insurance line of business in history.
Commenting on the partnership, Jamie Schibuk, Executive Vice President, Professional Liability and Cyber at Arch Insurance, stated, “With Upfort, we’re well positioned to lead the pack in the fastest-growing commercial insurance line of business in history.” The announcement follows a series of milestones for Upfort, including its transition from Paladin Cyber to Upfort and a successful Series A funding round earlier this year.
Source: Upfort and Arch Insurance Partner to Expand Access to Cyber Insurance
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