“When it comes to managing risk, insurance can play a vital role in helping customers reduce or remove threats. Family CyberEdge is our way of helping high net worth individuals defend themselves to avoid being an easy target,” David McMurdo (pictured), head of AIG private client group, told Insurance Business. “We received some very exciting feedback and now we’re ready to share it with the world.”
Conceptualised, produced and released alongside technology specialists CyberScout, Family CyberEdge aims to be the most comprehensive protection plan available for high net worth clients. It specifically helps combat cyber and identity fraud risks such as identity theft, cyber bullying, data restoration, cyber extortion and reputation management, with clients also having access to AIG’s cyber insurance coverage, combined with CyberScout’s cyber protection services.
24/7 fraud experts are also available to provide advice on the mitigation of cyber risk while customers will be able to access a wide range of tools such as data backup software plus optional credit and identity monitoring to help detect any misuse of personal information, all helping improve their cyber posture.
Insurance Business sat down with McMurdo to learn more about the product, precisely why it was needed and how CyberScout’s involvement sets it apart.
Read more: Is the insurance industry getting to grips with new forms of cyber risk?
“The high net worth segment is a value sensitive model, as opposed to a price sensitive model,” explained McMurdo. “Brokers and high net worth individuals expect much more from high net worth insurers than just a one-dimensional product, they want broader solutions which prevent incidents from happening in the ..
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