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The partnership will bolster cyber resilience for the global insurance industry with multilingual tech support, and AI based end-to-end cyber security solution
New Delhi, September 14, 2023: Tech Mahindra, a leading provider of digital transformation, consulting, and business re-engineering services and solutions, today announced a strategic partnership with Surance.io, an innovative personal cyber insurance platform. The strategic partnership will provide international multilingual tech support and enhance cybersecurity solutions to reinforce secure digital transformation in the insurance sector.
With this partnership, Surance.io will leverage Tech Mahindra's multilingual support to communicate with their global customers in more than 20 languages and provide seamless services to foster enhanced customer experiences. The partnership aims to protect insurance customers by providing round-the-clock expert support, best-in-class call centre services, advanced AI-based threat detection tools, and customised guidance to prevent cyber-attacks.
Vivek Agarwal, President - APJI (Enterprise), Corporate Development, Tech Mahindra, said, “The personal cyber insurance market is growing rapidly and remains relatively untapped. This presents a significant opportunity for us to create a strong presence in this market. Our offering of comprehensive end-to-end products in this domain places us in a favorable position for cross-selling and appealing to new market segments. The partnership with Surance.io will fuel the new era of cyber protection standards and steadfast our dedication to digital transformation and innovation within the global insurance industry. Together, we will redefine the benchmark for tech support excellence and spearhead a global revolution in cyber protection that will set a powerful precedent for the entire tech sector and insurance industry.”
With Tech Mahindra's digital and domain expertise and Surance.io's cutting-edge insurance platform, the partnership creates a powerful synergy to elevate customer experiences and drive business growth in the rapidly evolving cyber insurance landscape. Key services that insurance customers can leverage from this partnership include protection and recovery for social accounts, devices, smartphones, networks and data. The partnership will further provide anti-phishing verification & validation tools, social account assessment & protection against account hijack, Wifi and WAN network threat discovery and prevention plan.
Saar Bar, Co-Founder and CEO of Surance.io, said, “In 2022, cyber-attacks caused $10.3Bn in financial damage in the US, compared with $2.7Bn in 2018. In the world of cybersecurity, consumers' end-to-end solutions are largely ignored and underserved due to lack of personalised and efficient solutions, timely responses, and effective communication. To address this, with Tech Mahindra's multilingual expertise, Surance.io is ready to provide seamless services to a diverse global clientele. Surance.io can now partner with any insurance company in almost any language, making cyber protection accessible to all.”
In 2022, Tech Mahindra acquired 25% of equity shareholding in Surance.io to support the global expansion in the InsurTech industry. The partnership it is in line with Tech Mahindra’s DigitALL philosophy for comprehensive business transformation as it focuses on investing in emerging technologies and solutions that enable digital transformation and meet the evolving needs of insurance customers.
Surance.io is a groundbreaking personal cyber insurance platform. The InsurTech startup offers individuals an end-to-end solution that protects their digital lives from cyber-attacks. Surance.io provides 24/7 cyber expert support and works closely with insurance companies and warranty providers to ensure comprehensive coverage. Surance.io is dedicated to innovation and prioritises customer needs, aiming to transform the way individuals are safeguarded in the digital era.
About Tech Mahindra
Tech Mahindra offers innovative and customer-centric digital experiences, enabling enterprises, associates, and society to Rise for a more equal world, future readiness, and value creation. It is a USD 6.5+ billion organisation with 148k+ professionals across 90 countries helping 1250+ global customers, including Fortune 500 companies. It is focused on leveraging next-generation technologies including 5G, Metaverse, Blockchain, Quantum Computing, Cybersecurity, Artificial Intelligence, and more, to enable end-to-end digital transformation for global customers. It is the only Indian company in the world to receive the HRH The Prince of Wales’ Terra Carta Seal for its commitment to creating a sustainable future. It is the fastest growing brand globally in ‘brand value rank’ and among the top 7 IT brands globally in brand strength with AA+ rating. With its NXT.NOWTM framework, Tech Mahindra aims to enhance ‘Human Centric Experience’ for its ecosystem and drive collaborative disruption with synergies arising from a robust portfolio of companies. It aims at delivering tomorrow’s experiences today and believes that the ‘Future is Now’.
Tech Mahindra is part of the Mahindra Group, founded in 1945, one of the largest and most admired multinational federations of companies with 260,000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology, and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality, and real estate. The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.
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For more information on Tech Mahindra, please contact:
Abhilasha Gupta, Global Corporate Communications and Public Affairs