InsureComFree, a Malaysia-based insurtech in product development, has expanded its cyber risk program to include university students designed with tertiary students in mind to address growing concerns regarding inappropriate content sharing, overshared information on social media, cyber bullying and other threats to the safety of its students.
“Higher education has increasingly been a target for cyberbullies. Cyber bullying could have serious implications on emotional and mental distress for the victims and this is where the cyber protection insurance with services come in to provide assistance both financially and counselling support”, said Prof. Dato’ Dr. Ikram Shah bin Ismail (Vice-Chancellor, MAHSA University).
Since the launch of its first personal cyber insurance, InsureComFree has been awarded contracts by mobile health/genome companies to design cyber risk solutions to deal with privacy risks on healthcare related data and engaging with large digital customer base in designing product solutioning through insurers/takaful operators and cyber risk management companies from the region.
The cyber protection insurance's support services is provided by SingViva-Deep Blue Technologies and will be available to Mahsa University for its 8,000 students.
“Cybersecurity is a massive concern for higher educational providers in a post-pandemic world and the new learning environment where hybrid curriculums are offered to students and this is where risk coverage needs to be fit to address the types of threats that are most relevant”, said InsureComFree CEO Mohd Faizol.
Over the last few months, InsureComFree has strengthen its cyber risk management capabilities through partnerships with cyber risk management experts and can now offers customer expertise in threat and risk analysis, incident management, penetration and vulnerability testing, solution hardening and education based on respective industry as it seeks to strengthen its position in the cyber risk management in the commercial insurance space. InsureComFree is already working with SingViva an Insurtech based in Singapore to provide its solution to a wider audience outside Malaysia.