October 10, 2018

CyberScout to provide identity theft resolution to Länsförsäkringar

CyberScout is excited to announce a new partnership with Länsförsäkringar, a group of customer-owned insurance companies that provides personal, commercial, pet and life insurance, as well as bank, life and pensions services throughout Sweden.

Established in 1843, Länsförsäkringar is the largest non-life mutual insurer in Sweden, with a market share exceeding 30 percent. The group is comprised of 23 companies that work in cooperation with each other to provide top-tier services in everything from insurance to banking, always with a strong focus on customer service.

The partnership will mark the launch of Länsförsäkringar’s new small medium enterprise (SME) cyber insurance product. The partnership will provide services to their commercial lines policy for small- and medium-sized businesses, with plans to introduce services gradually beginning September 1, 2018, with full deployment over the following six months.

CyberScout’s robust breach education and response services will be added to Länsförsäkringar’s offerings, including a 24/7 help line connecting customers to cyber resolution experts in the Swedish language. CyberScout on-demand support helps to minimize the consequences of a breach, and the CyberScout breach team will work closely with the Länsförsäkringar claims team to ensure a seamless customer claims journey.

The announcement of this partnership marks Länsförsäkringar’s entry into cyber insurance, which is timely now that the GDPR is in place. Länsförsäkringar is one of the most trusted brands in Sweden largely because they have always empowered the customer in the decision-making process. With its customer-centric focus, CyberScout is a perfect partner for this new product offering.

“We are delighted to be partnering with Länsforsäkringar to deliver this brand-new product for the Swedish market,” said CyberScout’s Divisional Director of Global Markets, Tom Spier. “LF have looked at the clear risks to small businesses post-GDPR and reacted to these by saying that cyber cover is so important that they will endorse it to every SME policy. CyberScout’s global expansion means that we have been first into many markets around the world and this initiative represents a continuation of this.”

“We are very happy for the partnership with CyberScout”, said Maria Munkby, Head of the Liability department at Länsförsäkringar Sak. “CyberScout's competence and their experience in the field combined with the fact that they are easy to work with made them an excellent choice for us to partner with. Since we both have a strong customer focus they were also willing to provide services to customers in Swedish which was important for us.”

Since 2003, CyberScout has set the standard for full-spectrum identity, privacy and data security services, offering proactive protection, education, and data theft resolution as well as breach preparedness and response. Serving approximately 17.5 million households worldwide and more than 770,000 businesses, CyberScout is offered globally by an ever-growing number of client partners. CyberScout combines extensive experience with high-touch service to help individuals, government and commercial clients minimize risk and maximize recovery.

The Länsförsäkringar Alliance is unique in the Swedish bank and insurance market. The 23 customer-owned regional insurance companies cooperate, thereby combining the ability of a small company to adapt to its customers with the strength of a large company. All of the companies have a strong local base in their individual home markets and have no ownership interests other than those of their own customers. Everything developed in the form of products, concepts and system support is based exclusively on customer needs.