SBI General Insurance launches Cyber VaultEdge, a comprehensive cyber insurance cover for individuals
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** SBI General Insurance, one of India’s leading General Insurance companies, launched the Cyber VaultEdge insurance plan, a comprehensive cyber insurance cover for individuals that provides protection against financial losses arising from cyber risks and attacks.
The pandemic has led to a significant increase in adoption of digital infrastructure across services. Individuals were forced to adopt work from home model (WFH) and various digital methods of operating for most services, including payments. While this is a welcome development, in terms of rise of widespread digitisation and internet penetration, threats of cyber-attacks are on the rise. According to CERT-In, cyber security incidents jumped to Rs. 14.02 lakh in 2021 from Rs. 2.08 lakh in 2018, meanwhile, the losses due to cybercrime, ATM/debit card, credit card and internet banking fraud were estimated at Rs. 63.4 crore in 2020-21, as per data published by private and public banks.
To address the heightened risks that individuals face due to cybercrime and instances of reputation damage, fraudulent transactions with credit cards, debit cards, theft of personal information, etc., SBI General has designed *SBI General Cyber VaultEdge*which offers a range of benefits and protects individuals against cyber risks, allowing them to be assured against any such instances while conducting activities on the internet or during digital transactions. It covers unauthorised e-transactions, loss of wages resulting from identity theft and instances impacting online reputation including social media trolling, bullying, and stalking.
*Anand Pejawar, Dy. Managing Director, SBI General Insurance*, said/“While internet has made our life easier, it has also created a world that is riskier than ever before. With digital transformation taking center-stage, individuals are more susceptible to new age emerging risks. At SBI General, it is our endeavour to design need-based products that can address the evolving requirements of customers. Through *SBI General Cyber VaultEdge*, we aim to secure individuals by minimising financial losses arising due to internet-based risk / cyber risks through a comprehensive and affordable product. We will continue to expand our offerings to add-value to our customers and safeguard them financially for the future.”/
*SBI General Cyber VaultEdge*also takes care of any legal expenses incurred in pursuing or defending legal action against any third parties and reimburses individuals for expenses incurred to restore data by availing services of any IT specialist. To ensure the mental well-being of individuals, *Cyber VaultEdge *also covers consultation expenses of psychologists for trauma or stress arising due to such incidents.
For more policy details, customers can visit: www.sbigeneral.in<www.sbigeneral.in/>or download and refer to the SBI General mobile app.
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*About SBI General Insurance Company Limited:*
SBI General is one of the fastest growing private general insurance companies, with the strong parentage of SBI, we at SBI General Insurance, are committed to carry forward the legacy of trust and security; and have a vision is to become the most trusted general insurer for a transforming India.
Ever since our establishment in 2009, from 17 branches in 2011, we have expanded our presence to over 137 branches pan-India. Till date, we have served over 10 crore customers. We have been awarded ‘Insurer of the Year’ in the non-life category at FICCI Insurance Industry Awards, for two consecutive years.
We have a robust multi-distribution model encompassing Bancassurance, Agency, Broking, Retail Direct Channels and Digital tie-ups. The widespread network of distributors like 22000 plus SBI branches, Agents, Other financial alliances, OEMs, and multiple digital partners enables us to extend our reach to the pocketed remote areas of India.
We offer a bouquet of products spread across wide range of line of businesses to cater to customers in all segments like Retail, Corporate, SME and Rural, ensuring the accessibility in both forms i.e., digital as well as physical.
Our CSR programme is driven by the mission of serving the most vulnerable communities and people at risk with sustainable interventions that can help in enhancing their lives. In line with this objective, we have been associating with various NGOs and/or programs to contribute to various areas aligned with our focus areas of CSR philosophy, like health, road safety, sanitation, education, sustainability & livelihoods, and sports.
SBI General Insurance reported a 11% growth in Gross Written Premium (GWP) in FY 2021-22 and the GWP stood at INR 9260 crore. With the increasing need of health insurance, we have a very channelized strategy for health insurance business, which has reflected in 50% growth in health insurance GWP for the FY2021-22.
*For further details, please contact:*
Ananya Mohanty
SBI General
9920463153 ananya.mohanty@sbigeneral.in <mailto:ananya.mohanty@sbigeneral.in>
