BOXX Insurance Inc. announces expansion plan into Latin America
Updated: May 23, 2019
Canadian Insurtech, BOXX Insurance Inc., announces its plan to launch the world’s first fully-integrated cybersecurity and insurance solution in Latin America
BOXX Insurance Inc. announced today that it will be expanding the launch of Cyberboxx™— its smart cyber insurance solution — to serve the Latin American business market.
“Latin America is an important piece in our global market strategy to ensure small-to-medium-sized businesses are safe in this connected world,” said Vishal Kundi, Boxx Insurance’s Chief Executive Officer. “We’ve seen Latin America embrace innovation and digital transformation to improve the day to day lives of consumers, with one of the highest adoption rates of social media. Smart technology is everywhere, from proactively alerting citizens about traffic conditions to inclement weather, and other hazards. But as more devices are connected to the internet, cybercriminals have more and more opportunities to cause havoc. As a result, Latin American businesses are now as exposed to cyber dangers as businesses on any other continent.”
Cyberboxx™ takes the guesswork out of cyber risk for businesses, who do not have their own cybersecurity team. Cyberboxx™ combines security, technology, and insurance to help clients predict and prevent cyber threats. In the case of an attack, the insurance provides members with the specialist resources required to contain the risk and minimize any damages to their business and clients.
BOXX Insurance announced that Chile will be the first launch market for Cyberboxx™, through a partnership with local insurer Unnio Seguros Generales S.A. (UNNIO S.A.). “This announcement is very exciting for both organizations. It represents another solid step in our journey to be at the forefront of digital insurance, and enables us to offer new, innovative solutions to our customers”, added Fernando Concha Mendoza, Member Board of Directors for UNNIO S.A.
BOXX Insurance will be supported in Latin America by the leading innovations incubator, Bullfrog Ventures. Bullfrog offers support to Insurtech start-ups looking to scale quickly and develop market leading propositions. “We are delighted to support BOXX Insurance in their international expansion throughout Latin America where,” our network and expertise will prove to be a powerful combination to accelerate success, said Hilario Itriago, Bullfrog Ventures Chief Executive Officer.
About BOXX Insurance Inc.
BOXX Insurance Inc. is a new type of insurance company for a new type of risk.
Our team includes technology entrepreneurs, academics, and underwriters. We work closely with the most respected insurance and technology partners to provide solutions that help small business clients manage their total risk exposure – starting with cyber risk.
Our flagship product, Cyberboxx™, is the first fully-integrated cybersecurity and insurance solution for small-to-medium-sized businesses. With Cyberboxx™, businesses can stay ahead of cyber threats, respond to attacks, and re-secure their business faster and more cost-effectively.
About Unnio Seguros Generales
Unnio Seguros Generales, is a general insurance company with 100% Chilean capital, led by professionals with more than 25 years of experience in the market.
We represent a new generation of insurers, diverse, young, innovative and flexible. We work with our clients to create powerful solutions and products according to their needs. We ranked #14 in the Chilean market with premiums of U$80M, mainly serving corporate and SME clients.