The startup was founded in 2017 by specialists in insurance and online lending, and intents to support SMEs that have to manage large amounts of personal data, and have been under pressure from increasing numbers of cyberattacks. Within the last two years, more than 70% of German companies were affected by cybercrime activities, according to Banking Technology, but one out of ten SMEs holds an insurance policy that covers the resulting damages.
Most risk exposure comes from small things that employees do incorrectly; therefore, the company focuses on prevention, the human side of cybersecurity. The cybersecurity startup operates on a membership model and plans to add an industry-specific cyber insurance proposition to its portfolio of services.
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