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The Travelers Companies (New York/Hartford) is making pre-breach cybersecurity services available to eligible Travelers cyber policyholders through a partnership with Symantec (Mountain View, Calif.). Through the agreement, Symantec will provide a cyber resilience readiness assessment, cybersecurity awareness training videos and a security coach helpline, among other services, according to a Travelers statement.
Travelers is giving qualified cyber policyholder customers access to several of Symantec’s Cyber Security Services, including a one-hour consultation following the cyber resilience readiness assessment to help identify areas of weakness, cybersecurity awareness training videos for educating their organization and a Symantec security coach helpline that can address questions about emerging cyber risks and security gaps, according to the insurer. Policyholders also can take advantage of discounts on several Symantec products, such as Norton Small Business software. Availability of the services depends on the Travelers cyber policy purchased.
“Collaborating with Symantec will provide our customers with the knowledge, planning and solutions that can help them better understand the latest threats and the best ways to protect against them,” comments Tim Francis, Enterprise Cyber Lead, Travelers. “Cyber risks are a top concern for businesses of all sizes, and by working with Symantec’s team, we can help alleviate those concerns by making new risk management services available that go beyond the insurance policy.”
“As technology continues to evolve and adversaries become more sophisticated, it’s important for businesses to understand the broad scope of potential trouble spots in their IT infrastructure and how they can mitigate or reduce these risks,” comments Pascal Millaire, VP, Cyber Insurance, Symantec. “We’re looking forward to bringing our cyber expertise to Travelers’ cyber customers.”
Matching Services to Insurance Products
Travelers’ offering of Symantec’s services is similar to recent Internet-of-Things related services, which have tended to be limited to the offering of devices that encourage behaviors that reduce the probability of losses—such as Liberty Mutual’s partnership with Nest Labs, or Desjardin’s provision of Roost moisture detectors to customers. Travelers’ Symantec cybersecurity-related proposition differs both in being other than I0T-based and being a commercial lines play, but it fits within a broader trend, suggests Karen Furtado, a partner at research and advisory firm SMA (Boston). “We have been seeing insurers pushing for increased value of their products by augmenting with services,” she says.“This is a perfect example of matching ‘services’ with the ‘products’ offered.”
Editor’s note: The final paragraph of this story, including quotes from Karen Furtado, was added after initial publication.