Mulberri, an AI-driven insurance platform, today announced it has partnered with Acronis, a global leader in cyber protection, to embed Mulberri’s Cyber Insurance to Acronis small & medium-sized businesses customers based in the US.
Through this partnership, Acronis customers can opt-in for Mulberri’s embedded Cyber Insurance directly through the Acronis platform. This seamless embedded approach will streamline Cyber Insurance access to Acronis customers in minutes. Acronis natively integrates cybersecurity, data protection, and endpoint management for managed service providers (MSPs) and small and medium businesses (SMBs); however, added Cyber Insurance inserts a layer of protection. This partnership enables Acronis and Mulberri to provide end-to-end solutions to Acronis customers.
Mulberri’s Cyber Insurance is AM Best rated and it represents a significant step forward in the cyber insurance market, which has struggled to streamline insurance for SMBs. Extensive and complex underwriting questions paired with cumbersome enrollment steps have contributed to less than 5 percent of SMBs buying cyber insurance. Mulberri is seeking to change this. Mulberri Cyber Insurance is a unique product - a standalone policy, with $250,000 and $500,000 policy limits and fixed premiums - that is approved and regulated by state insurance authorities. The low premium and policy limit provide important base coverage while being affordable to any SMB.
“Our embedded partners are used to having to think twice about selling cyber insurance to SMBs as it slows down the sales process with questions and due diligence,” said Hamesh Chawla, co-founder and CEO, at Mulberri. “We have removed these barriers and lowered the policy limit, creating an entry level program meant to provide cyber insurance coverage to businesses that have not had it in the past. We are thrilled to contribute to SMBs having peace of mind that they are covered against increasingly common cyber-attacks that can have catastrophic consequences on their businesses.”
Mulberri’s Embedded Cyber Insurance consists of three main value propositions:
- Simple: Same base coverages provided in all policies, reducing confusion and complexity; Pricing structure based on revenues, presented in a straightforward matrix format; Requires answering just one question
- Frictionless: Simplified and streamlined underwriting process to minimize the steps involved in purchasing and binding the policy
- Embedded: Seamlessly integrates the cyber insurance policy into the sales cycle
Cyber Insurance is just one of the ways Mulberri is reinventing embedded insurance. Mulberri is also exploring other innovations in terms of product offerings and embedded partners as the company continues to create simple and frictionless insurance and risk management solutions for SMBs.