CFC is adding cyber threat reviews to quotes to provide personalised rundowns of the risks SMEs face and help brokers encourage take-up of the cover.

The “bite-sized” reports give dynamic side-by-side cost comparisons for cybersecurity services available to clients, specific to their business risk.

CFC head of global cyber development Lindsey Maher says the threat reviews help brokers inform prospective clients using only a handful of pages.

“SMEs have been overwhelmed with reams of stats and details of risks they can’t relate to. It’s no wonder many are turned off buying cyber insurance,” she said. 

“Our cyber threat reviews eliminate confusion by cutting to the chase, only highlighting the actual threats an individual business faces.  

“We believe it will help brokers tap into the cyber market globally and develop new income streams.”

The reports make “invisible risks visible” and close the knowledge gap for “those who don’t speak cyber jargon”, clearly stating potential costs, lost revenue and reputational damage, Ms Maher says.  

Threat reviews will initially be provided on all CFC cyber underwriter quotes, with plans to later deliver them via every trading platform.