King Price launches cybersure: Cyber insurance for your business

10 October 2017 Wynand van Vuuren, King Price
Wynand van Vuuren, spokesperson at King Price.

Wynand van Vuuren, spokesperson at King Price.

Cybercrime is a real threat to South African businesses and cyber insurance is the best defense.

Most people know whether they have insurance for their stuff, car accidents and theft, and liability, but do you know if you’re covered for cybercrime? Are you cybersure?

You really should be… Cybercrime is real, and it’s on the increase. In SA, 84% of adults who’re online have already been victims of cybercrime, and a massive 74% of these have experienced cybercrime in the past year1. South Africa also ranks in the top 10 on the FBI’s cybercrime predator list, which means that there’s an increasing amount of fraud being perpetrated from SA, too.

‘Cyber attacks can be devastating from both a financial and reputational point of view, and it’s clear that cybercrime has become a major threat to South African businesses. Having cyber insurance is non-negotiable,’ confirms Wynand van Vuuren, spokesperson at King Price.

Always one step ahead of the hackers (and the greater insurance industry), King Price has just launched cybersure: Cyber insurance for businesses, which covers a business’ computer systems, software and data, and also protects businesses against liability arising from cyber attacks on these assets. Cybersure includes cover for cyber liability and cybercrime, data breach expenses, damage to computer systems and data, associated loss of income, and more.

This will be followed by a personal cyber insurance product, early in 2018.

In line with their way of taking what they do very seriously but themselves, not so much, King Price is launching cybersure (a very serious product) with a (not-so-serious) twist. The fun-loving insurer has developed a super cool online game linked to an SA-first competition (more about that below!) to get South Africans thinking and talking about their cyber safety.

Here’s the really awesome part: There’s R1 million in Bitcoin up for grabs for players! ‘This is the largest Bitcoin prize in SA so far,’ says van Vuuren. ‘We’re seeing it as an investment into educating South Africans on the very real and ever-increasing need for cyber security.’

Consumers can test their gaming skills and cyber safety know-how at from 8 October until 28 February 2018. Everyone who plays all 3 levels of the game will be entered into the random draw to be chosen as a finalist, and 8 finalists will play a live knock-out round to determine the 3 final winners.

Players don’t have to be seriously skilled gamers, but some tech-savvy and a sense of humour are mandatory.

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