Helvetia teams up with cybersecurity startup

Helvetia, a successful insurance group with over 13,800 employees and more than 7.2 million customers, will collaborate with Coinnect, a Ticino-based cybersecurity start-up founded in 2019. The group will adopt Coinnect’s Cyber Insurtech platform to enhance cyber risk underwriting and support cyber risk mitigation for its clients.

Utilizing advanced cyber intelligence data and artificial intelligence, the platform will provide supplementary technical information enhancing the underwriting process of Helvetia. At the same time, Helvetia can provide the results of this one-off vulnerability check to customers free of charge, therefore generate added value for their clients.

In addition to risk evaluation, Helvetia customers will have the opportunity to access Coinnect's expert support for a more detailed cyber risk assessments and risk mitigation services, including continuous monitoring, which helps to significantly improve their security posture. This proactive approach will enable clients to better manage their cyber risks, creating a benefit for their overall operational resilience.

Recognizing the value of effective risk reduction, Helvetia will offer special insurance conditions to clients who subscribe to Coinnect extended services. These clients will benefit from reduced cyber risk and improved resilience, which in turn will allow them to receive more favorable insurance terms. This initiative underscores Helvetia's commitment to rewarding proactive risk management.

"This partnership underlines Helvetia's commitment to driving innovation in cyber insurance and helping our customers improve their resilience to these threats", resumes Andrea Genini, Senior Underwriter and responsible project manager at Helvetia. "In addition to the undeniable benefits for our customers, the collaboration with Coinnect also helps us to further improve the cyber resilience of Switzerland as a business location and the quality of our portfolio."

"We are proud to cooperate with Helvetia", said Massimiliano Rijllo, CEO of Coinnect. "Our platform will provide Helvetia's customers with better cyber risk assessment, AI and mitigation capabilities. We look forward to continuing to work together to bring this innovative platform to the Swiss market."

(Press release / SK)