Sunnyvale, CA, Aug, 9, 2023 — Mulberri, an AI-driven insurance platform founded in 2021, today announced the launch of its Cyber Insurance MGA. Mulberri’s approach is designed to help embedded insurance partners and their small and medium-size business clients safeguard against crippling financial consequences caused by cyberattacks while boosting revenue. The Mulberri Cyber Insurance MGA represents a significant step forward in the market, which has struggled to streamline insurance for SMBs. Today, less than 5 percent of SMBs buy cyber insurance – despite the fact that nearly 43% of cyberattacks are waged on small businesses. Mulberri and its partners are seeking to change this by addressing contributing factors like extensive and complex underwriting questions paired with cumbersome enrollment steps.

Mulberri Cyber Insurance is underwritten by Lloyd’s of London with Park National Insurance Company as the carrier, and placed by Acrisure Re, the reinsurance division of top-10 global fintech provider Acrisure. It is the first of its kind to remove the need for manual data-gathering for underwriting purposes. This allows Mulberri Cyber Insurance to be seamlessly embedded into the sales process without any friction. Moreover, it is a unique product – a stand-alone policy, with $250,000 and $500,000 policy limits and fixed premiums – that is approved and regulated by state insurance authorities. The low premium and policy limit provides important base coverage while being affordable to any SMB.

“Our embedded partners are used to having to think twice about selling cyber insurance to SMBs as it slows down the sales process with questions and due diligence,” said Hamesh Chawla, co-founder and CEO, at Mulberri. “We have removed these barriers and lowered the policy limit, creating an entry level program meant to provide cyber insurance coverage to businesses that have not had it in the past. We are thrilled to contribute to SMBs having peace of mind that they are covered against increasingly common cyber attacks that can have catastrophic consequences on their businesses.”

Mulberri’s Embedded Cyber Insurance consists of three main value propositions:

Simple

• Same base coverages provided in all policies, reducing confusion and complexity
• Pricing structure based on revenues, presented in a straightforward matrix format
• Requires answering just one question and providing one additional signature within the application

Frictionless

• No complicated underwriting questions or cyber assessment needed
• Simplified and streamlined process to minimize the steps involved in purchasing and binding the policy

Embedded

• Eliminates the need for separate applications or additional paperwork
• Seamlessly integrates the cyber insurance policy into the sales cycle

“Our SMB customers are spread thin when it comes to time and resources, and they don’t always have all the details about their infrastructure at their fingertips. This often causes cyber insurance to fall off  their priority list — even though it is increasingly essential,” said Phil Urso, Chief Sales Officer at Vensure Employer Solutions. “Thanks to Mulberri we can finally offer affordable coverage to businesses without a huge time investment on their part, so they can stop worrying about cyber attacks and focus on other issues needing their attention.”

Mulberri is committed to creating simple and frictionless insurance and risk management solutions for SMBs. For further information visit www.mulberri.io.

Mulberri will be attending NAPEO’s Annual Conference & Marketplace, the PEO industry’s annual flagship event, Oct 9-11 in Orlando, FL. To connect email sales@mulberri.io or stop by booth #215.

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ABOUT MULBERRI

Mulberri is an innovative insurtech company that is transforming the insurance industry with advanced technology and a cutting-edge cyber insurance program. Their platform provides businesses of all sizes, including PEOs, brokers, small-medium businesses, and carriers, with comprehensive cyber insurance coverage, streamlined processes, and advanced risk management tools. Mulberri simplifies the insurance experience, making it efficient, transparent, and tailored to address the unique cyber risks faced by businesses. Learn more about Mulberri by visiting www..mulberri.io/ and stay connected on Twitter and LinkedIn.

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MEDIA CONTACTS

FOR MULBERRI:

Chelsea Allison

Communications/PR, Mulberri

chelsea@cmand.co

312-775-2856