Generali Launches New Cyber Initiative

Generali has launched a new cyber insurance initiative to address its customers’ concerns and needs in the area of cyber risk. The new initiative will combine the wide range of cyber insurance solutions with the support of a newly-formed tech startup, CyberSecurTech, wholly owned by the Group and created with the aim of deploying innovative cyber risk assessment methodologies for Generali’s customers.

 

 

The initiative will support customers in different areas such as preventing cyber attacks, preparing best responses to a breach, and technical and legal management of events.

 

CyberSecurTech’s platform, known as “Majorana”, was designed and developed by the Group’s team of IT security experts. The system uses innovative methodologies to manage risk, allowing the gradual implementation of its global cyber insurance offer. The platform collects and analyses customer data, starting from an assessment of the customer’s web perimeter, then searching the deep and dark web for possible data leaks that may have affected the potential customer, and, finally, reviewing vulnerabilities in the IT infrastructure. Subsequently, results are analyzed through a proprietary algorithm, leading to the development of an IT risk insurance policy and an IT security report that can be shared with the customer.

 

“Today’s announcement confirms Generali’s commitment in cyber security, an increasingly significant and strategic space for individuals, companies and organisations. Generali, as a global insurer, intends to be at the forefront of identifying and mitigating this type of emerging risk, offering innovative and relevant solutions for our customers. Leveraging the new function’s expertise and the Group’s technological innovation, which is the cornerstone of CyberSecurTech startup, we will able to support our customers’ needs.” – Country Manager Italy and Global Business Lines at Generali, Marco Sesana.

 

“Developed using innovative technologies based on machine learning and artificial intelligence, the tool’s considerable sophistication enables the real risks to which the customer is exposed to be assessed, providing detailed information that the customer can use to build a plan to mitigate risks and transfer residual risks, both from a technology and insurance perspective.” – CEO of CyberSecurTech, Remo Marini.