New Zealand’s Delta Insurance Group has inked a cyber-insurance agreement with Taiwan’s Hotai Insurance.
Under the terms of eth agreement, Delta’s Singapore unit will provide Hotai employees with its cyber-insurance product along with long-term support, including risk management services and training.
The agreement with Hotai is part of the group’s strategy to develop partnerships in the Asia-Pacific region to expand its footprint.
Delta Insurance managing director Ian Pollard said: “We’ve seen enormous growth in Asia in the take-up of cyber insurance, even more so recently with the Covid-19 crisis and increased working from home.”
The group is planning to hire more staff at its Singapore unit in the next two years.
Prior to the deal with Hotai, Delta partnered with Vietnamese insurance company Bao Viet Insurance back in April.
Pollard added: “Delta Insurance Singapore is our Asia hub operation, and our intention is to develop partnerships similar to the Hotai and Bao Viet agreements across the region, where we share our capabilities and the speciality insurance lines we have developed, such as cyber-insurance.
Delta has established its presence in 10 countries since it was founded in 2014. The company also has partners in Hong Kong, Cambodia and Thailand.
Delta will next seek partnerships in Indonesia and the Philippines. In the long run, the company plans to foray into Korea, Malaysia, and Japan as well.