Microsoft links security data with cyber underwriters to lower rates

By admin



Microsoft has teamed up with cyber insurer At-Bay to offer corporate users of Microsoft 365 lower cyber insurance rates. It marks the first of several potential partnerships with insurers that will see Microsoft link its security and software systems to assess underwriting risk, which will both boost buyers’ cybersecurity and improve affordability of cover.

At-Bay said businesses that adopt security controls, including multifactor authentication and Microsoft Defender for Office 365, will improve their defences to cyber risk and see their premiums adjusted in line with loss history and risk profiles.

“Incentivising the implementation of security controls with improved policy terms and pricing has strengthened the overall security of At-Bay’s portfolio companies. According to At-Bay, their insureds are seven times less likely to experience a ransomware incident than the industry average,” Microsoft said.

Microsoft will roll out similar models with other cyber insurers and use its products to help improve insurers’ data insights for underwriting cyber risk. Customers will be able to opt in to share data and details about their security through Microsoft 365 and its other products, which could bring down their premium rates for cyber cover.

“This model rewards customers with real savings when adopting cybersecurity best practices and gives insurers the information they need to proactively protect their customers against breaches,” Microsoft said. “Insurers struggle to acquire and use dynamic, real-time data needed to mitigate cyber risk,” added the software company.

“For cyber insurance to play a meaningful role in overall risk management, buyers and sellers need the benefit of data and clear visibility into what is covered and factors either minimising or multiplying risk exposure,” said Ann Johnson, Microsoft’s corporate vice-president of security, compliance and identity.

Microsoft is also working with At-Bay to identify other ways to improve businesses’ cyber risk exposures and address any vulnerabilities for Microsoft users.

“An insurance policy is an effective tool to articulate the impact of cybersecurity choices on the financial risk of a company. By offering better pricing to companies that implement stronger controls, we help them understand what matters in security and how best to reduce risk,” said Rotem Iram, co-founder and CEO of At-Bay. “Working with Microsoft enables us to educate customers on the powerful security controls that exist within Microsoft 365 and reward them for adopting those control.

AIO: 25th Reinsurance forum expects 1000 participants in Kigali from Nov. 27

By Favour Nnabugwu


The General Assembly of the African Insurance Organisation (AIO) has approved the request of the Rwanda Insurance market to host the 25th African Reinsurance Forum.

The event which is.scheduled to hold from November 27 to December 1, 2021 will be hybrid (300 Virtually and 700 In-Person))


The venue of the forum, to be hosted by the Association des Assureurs du Rwanda (ASSAR) will be the Kigali Convention Centre

The African Insurance Organisation is happy to return to the birthplace of the African Continental Free Trade Area, Kigali, to examine not only how the insurance sector can best integrate into the AfCFTA, but to also provide a conducive venue for the cream of the African insurance industry to reflect on the way forward.

Allianz completes $330m Aviva Italia purchase

By admin


Allianz has completed the €330million acquisition of Aviva Italia SpA that was first announced in March 2021.

Allianz said the acquisition strengthens its position in the Italian P&C insurance market, where it is the third-largest insurer.

The move will increase its market share by one percentage point.

The acquired portfolio is split between motor and non-motor business, generating gross written premiums of about €400m.

Germany: Nigerian activist cries out over deportation of Nigerians

By Favour Nnabugwu a


A member of the Nigerian community in Hamburg, Mrs Ngozi Utoh-Samuel, has called on the German authorities to temper justice with mercy on the situation of Nigerians whose asylum applications have been rejected.

The civil society activist, who is the founder of Positive Life Global Empowerment (PLGE) e.V., took to her Facebook page on Tuesday to address the issue of deportations to Nigeria in view of the security and economic crises that the country is currently undergoing.

There are reports that another group of Nigerian rejected asylum-seekers were deported last week to Lagos. If the news is confirmed, it would be the fourth deportation flight to Nigeria this year.

Ngozi Utoh-Samuel, who is the founder of Positive Life Global Empowerment (PLGE) e.V., is calling on the German authorities to temper justice with mercy on the situation of Nigerians whose asylum applications have been rejected/Photo:

“Information reaching us says that some of our people were deported to Nigeria on 21.09.2021. We are calling on the German government to stop deporting our people back to Nigeria,” Mrs Utoh-Samuel wrote.
“We all know what is happening for the past years in Nigeria. Nigeria is a no-go area. People feel better dying in the Sahara and in the Sea than in that land.

“I call on all who do migration work to use their influence to draw the attention of the government to this problem. It concerns every one of us, we need to create awareness of this. We have been crying to the world on the current situation in Nigeria.”

Mrs Utoh-Samuel however frowned on Nigerians who commit crimes.
“For those who involve in drug peddling and such evil, I will never be a part of that. I hate evil. I stand for those with asylum problems that are being deported,” she explained.

“We plead to government to stop the deportations. We know how difficult it is for my people. I would rather suggest giving them working permit to struggle for themselves.”

Speaking in Berlin in November 2019, Christian Bilfinger, Policy Advisor on Refugee and Migration Policy at the Konrad-Adenauer-Stiftung (Konrad-Adenauer-Foundation), said about 12,000 Nigerians had been issued papers to leave the country because their asylum claims had been rejected.