Cyber risk is no longer a concern reserved for technology companies.
›Banks
›Hotels
›Manufacturers
›Healthcare providers
›Professional firms
›Retailers
›Schools
›Logistics companies
…and virtually every modern business now depends on technology to operate.
And where there is technology dependency, there is cyber risk.
Yet one question remains increasingly important for insurance brokers:
How do we turn that growing cyber exposure into meaningful cyber insurance opportunities?
That is where Barbon BCI Program, the Barbon Cyber Insurance Program, comes in.
A new opportunity for insurance brokers
Insurance brokers already have something incredibly valuable: trusted relationships with businesses.
You understand your clients. You understand their operations, their existing insurance portfolios and the risks they face.
But cyber insurance can sometimes be a difficult conversation to start.
A client may not know whether they need cyber insurance.
They may believe their existing cybersecurity controls are sufficient.
They may not understand the financial consequences of a cyber incident.
And from the broker's perspective, identifying which clients represent the strongest cyber insurance opportunities can be challenging.
Barbon BCI is designed to change that.
The program gives brokers a structured way to identify clients with meaningful technology exposure, understand their risk, engage them around that risk and ultimately create a pathway toward cyber insurance.
Your clients already have cyber risk
The opportunity isn't necessarily to find new clients.
It may already exist within your existing portfolio.
Consider a business that:
- Processes customer information
- Relies heavily on cloud applications
- Accepts digital payments
- Operates online systems
- Has employees accessing corporate networks remotely
- Depends on third party technology providers
- Stores sensitive or commercially valuable information
- Could suffer significant financial disruption following a cyber incident
That business already has cyber exposure.
The question is:
Does it understand that exposure, and is it adequately insured against it?
BCI helps brokers turn that question into a conversation.
From risk identification to insurance
The Barbon BCI Program is built around a simple journey:
Identify clients within your existing portfolio that may have significant cyber exposure and could benefit from cyber insurance.
Use Barbon's technology risk intelligence to develop a clearer understanding of the client's technology environment and cyber risk.
Give the client visibility into areas that may require attention and help them become better prepared for cyber insurance.
Use better risk information to support the cyber insurance conversation and facilitate the placement process with insurance markets.
Cyber risk doesn’t remain static. Technology changes. Systems change. Employees change. Vendors change. Threats change. BCI enables continued visibility into technology risk beyond the initial insurance placement.
More than a cyber assessment
BCI isn't designed to turn insurance brokers into cybersecurity consultants.
And it isn't designed to replace the broker.
The broker remains at the centre of the client relationship.
Barbon provides the technology risk intelligence that supports that relationship.
This creates a simple division of value:
brings the relationship and insurance expertise.
brings technology risk intelligence.
provides insurance capacity and underwriting expertise.
The result is a more informed journey from technology risk to insurance.
Turn your existing portfolio into a cyber opportunity
For brokers, one of the biggest opportunities may not be finding another client.
It may be finding another insurance opportunity within the clients you already have.
A commercial client that already purchases property, liability, professional indemnity, business interruption or other forms of insurance may also have significant cyber exposure.
BCI provides brokers with a way to introduce that conversation.
Instead of simply asking
“Would you like cyber insurance?”
The conversation becomes
“Let's first understand your technology risk, then determine what protection makes sense for your business.”
That is a fundamentally different conversation.
It starts with the client's risk rather than the insurance product.
Building a stronger cyber insurance ecosystem
We believe the future of cyber insurance requires closer alignment between technology risk and insurance.
BCI is designed to help connect these three parts of the ecosystem.
Better risk visibility can lead to better risk conversations, better preparation and ultimately better insurance decisions.
Barbon BCI Program
The Barbon BCI Program is being introduced for insurance brokers who want to build cyber insurance into their client offering and develop new opportunities within their existing commercial portfolios.
If you are an insurance broker looking to:
- Identify more cyber insurance opportunities
- Understand your clients’ technology risk
- Create stronger cyber insurance conversations
- Prepare clients for cyber insurance
- Differentiate your brokerage
- Build a recurring cyber risk relationship with clients
…then BCI is built for you.
Your clients already have cyber risk.
Let's turn that risk into an insurance opportunity.
Barbon BCI Program
Barbon Cyber Insurance Program
From cyber risk to cyber insurance.
Barbon BCI Program
Interested in the BCI Program?
If you are an insurance broker looking to build cyber insurance into your client offering, register your interest and a member of our team will be in touch.
Register interest