Zeguro said it has formally launched its platform designed to help small and midsize companies quickly deal with cyber threats in multiple ways.
The San Francisco-based startup, which describes itself as an “end-to-end cyber safety platform and insurance provider,” said the new platform will include employee training, web app monitoring and customizable security policies, along with cyber insurance coverage tailored to an organization’s unique risk profile.
The platform had been in beta, but now it is ready for use, and potential customers can try it through a free trial.
Zeguro raised $5 million in seed financing last November from insurance industry investors including Munich Re (HSB Ventures/Hartford Steam Boiler) and QBE. Other investors include Mosaik Partners, Healthy Ventures, Social Capital, Plug and Play, and Sparkland Capital.
Hartford Steam Boiler, among others, is also partnering with Zeguro to provide cyber insurance to small and medium businesses. Zeguro co-founder and CEO Sidd Gavirneni noted to Carrier Management via email that the HSB partnership is “highly customizable.”
He also described Zeguro as “more than a managing general agent” that uses technology to understand a client’s risk, help them decrease that risk and then offers insurance to meet diverse risk profiles.” The platform uses SaaS technology.
Zeguro is unique among InsurTechs, he said, because it ties in “the security posture of a business with cyber insurance, drastically impacting premiums for the price-sensitive small business.”
Small and midsize businesses are a ripe market for Zeguro’s platform, Gavirneni added, because of its risk mitigation options and also its ability to “keep smaller companies in compliance with data regulations and contractual obligations.”
Looking ahead, Gavirneni said that the company will continue adding more features to its platform and also work on improving cyber insurance underwriting “using our unique security data.”
Zeguro also expects to seek “more funding and resources” as it focuses on growth in the coming months, he said.