Howden launches first-of-its-kind SME cyber insurance platform, widening access to protection and simplifying purchasing process


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  • 75% of SMEs without cover, research shows
  • Total 2023 ransomware incidents up 85% vs 2022, with activity up 30% so far in 2024 on already elevated 2023 levels 
  • New Howden platform democratises SME access to cyber insurance by making it much easier to buy without compromising underwriting standards

London, 21 May, 2024 – Howden announces the launch of a unique cyber insurance platform for SMEs that lowers one of the key barriers to them accessing cyber insurance by simplifying the process of purchasing cover. Designed for businesses with revenues of up to USD 250m, cyber insurance can be purchased in four simple steps directly through the platform, with no lengthy questionnaires or complex terminology used to get a quote. 

Howden’s new cyber platform, backed by three global carriers, provides limit up to USD 6m capacity. Every client is pre-approved and eligible for an insurance proposal, with only four pieces of information required for a quote: Name, Industry, Annual Revenues and Website. Supplementary data is gathered via open APIs, meaning that underwriting standards are upheld despite the greatly simplified purchase process.

SME clients have been historically underserved by the Cyber insurance market, with only 14% of SMEs having Cyber insurance cover in place. 

Jean Bayon de la Tour, International Head of Cyber, Howden, said: “Cyber insurance is predominantly purchased by large corporates because they typically have the resources to navigate an advanced procurement process. Our new cyber platform addresses this imbalance by providing SMEs with a simple process to obtain top-quality cyber insurance cover in just a few hours, which includes 24/7 assistance and access to advanced data and analytics software including Cyberwrite, which provides additional insights to clients before, during and after policy inception. We also support our clients and our brokers with an AI powered bot to answer to all questions about cyber risk and cyber insurance.  With best-in-class terms and conditions on offer, including enhanced wordings, no sub limits on key covers, and breach response, Howden is committed to leveraging the power of insurance to defend and protect all businesses, no matter their size.”

Shay Simkin, Global Head of Cyber, Howden, said: “Howden has accessed the insurance market’s pool of cyber expertise to close the protection gap by ensuring that SMEs can access advanced cyber insurance solutions. 60% of SMEs without cyber cover face bankruptcy within just six months of experiencing a cyber-attack , and our new platform ensures that they have the knowledge and tools they need to make their businesses more resilient. Attacks on SMEs are growing, and at Howden we are responding by widening access to cyber insurance across different sections of the economy, ensuring that it remains relevant to all.”