SSP and Keychoice partner with QOMPLX:UNDERWRITING to provide members with access to cyber cover

Keychoice, the insurance distribution business owned by SSP, has just announced a new partnership with QOMPLX:UNDERWRITING to add their multi-peril parametric product ‘WonderCover’ to the Keychoice panel via the SSP Commercial E-trading platform.

Wondercover™, focused on SMEs and backed by Chaucer, the international specialty (re)insurance group, is available to Keychoice brokers via the SSP platform as a standalone policy or as an additional cover to other lines of business. This adds even more robust flexibility to the Keychoice market-leading suite of products.

The WonderCover™ policy provides combined cover for cyber data breach, cyber service outage and terrorism disruption, responding to the market demand for new simple and affordable solutions needed by SMEs.

QOMPLX is a unified data analytics and risk platform provider and is driving change in risk management and selection processes in the industry. The rating and processing for WonderCover™ will be handled by QOMPLX’s proprietary underwriting decision platform though integration to the SSP Commercial E-trading platform. The decision platform automates underwriting functions and drives informed data decision-making for premier risk identification and pricing.

Claire Faulding, Head of Keychoice and Commercial E-trading at SSP said “We are thrilled to be working with QOMPLX to enhance both our Keychoice and commercial e-trade offerings. At a time when cyber security is of paramount importance to all businesses, it is great that we can offer our brokers access to this type of quality cover for their clients.”

Alastair Speare-Cole, QOMPLX President and GM of Insurance, said “WonderCover™ provides simple, transparent protection against two common risks that business owners face each day. Traditional insurance policies leave businesses exposed to loss, but WonderCover™ is designed to offer fast remediation so disruption and financial impact is limited. The triggers are simple and insureds can feel confident that they are adequately protected.”