CPP Group has joined forces with Arthur J Gallagher & Co (Gallagher) to provide a cyber product to SMEs.
As a result, CPP will increase its presence int he UK broker market. Furthermore, Gallagher will expand its suite of insurance products to include a cyber proposition for smaller clients.
This follows the launch of CPP’s SME-specific cyber policy on the Acturis platform in October 2019. Gallagher is one of CCP’s partners thanks to the Acturis launch.
The product is designed to cater specifically to SME businesses. In addition, it was the first SME-specific cyber add-on for general commercial use to become avaialble on the Acturis platform.
Gallagher’s existing solution was focused on larger businesses and not cost-effective for SMEs of a certain size.
Jason Walsh, group CEO of CPP, commented: “Gallagher is one of the biggest and best-known brokers both nationally and internationally, so it’s a fantastic result to bring them on board as a partner. It gives us a strong footprint in the UK broker market, which we will continue to build upon. It also demonstrates the scale of the commercial opportunity provided by our product launch on Acturis, which has opened us up to a large network of brokers. We anticipate that this will be the first of many such partnerships.”
Barry Duffin, managing director of SME at Gallagher, added: “The partnership with CPP enhances our existing cyber insurance provision. The level of cover provided, combined with a lower than market-norm excess, allows us to offer a product that specifically meets the needs of SMEs, that don‘t have the support of a large IT team but are exposed to cyber risk. We look forward to a long and mutually beneficial relationship with CPP.”
Walsh continued: “This partnership is another great milestone for the Group as we evolve our programme to develop deeper relationships that will fuel the continued the growth of our business. We have gone from strength to strength in the past year across the globe, working with more big brands than ever before in strategically important markets.”