Pioneer Insurance has introduced Biz e-Protect, a cyber insurance solution that helps small and medium enterprises (SMEs) recover from cyber threats through coverage for financial losses, business interruption, and incident response costs.
Pioneer Group Head Lorenzo Chan Jr. shared, “Biz e-Protect aims to support SMEs facing risks such as cyberattacks, data breaches, digital fraud, ransomware, and system failures that can interrupt operations and impact business reputation.”
The new product was introduced during Pioneer Insurance’s “Protection in a World of Cyber Risks” forum held on July 7 at Makati Diamond Residences.
During the event, Pioneer General Accident Head Jenny Tolentino shared that as cyber risks increasingly affect businesses of all sizes, SMEs may be especially vulnerable as many operate with limited financial reserves, lean manpower, and little or no dedicated cybersecurity capability. Recognizing this, Pioneer developed Biz e-Protect with complimentary cyber risk management services, empowering businesses with financial protection and support needed to recover and resume operations after a cyber incident. “Together, we can help SMEs be more prepared, more resilient, and more confident in facing cyber risks,” Tolentino shared.
IN PHOTO (from left): Lorenzo Chan Jr. (Pioneer Group Head), Sebastian Phua (Head of Distribution and Marketing at Delta Underwriting), Jenny Tolentino (Head of General Accident at Pioneer)
Angelo Naborte, Pioneer Head of Casualty, Crime & Specialty Risks, outlined the key features of Biz e-Protect, which includes up to P100 million worth of benefits for crisis management support, business interruption protection, first-party and third-party cyber liability coverage, and automatic extensions for emergency response and loss mitigation costs.
“Beyond insurance coverage, Biz e-Protect gives SMEs complimentary access to cyber risk management services provided by Delta Underwriting, including Breach Check, which provides a Cyber Risk Exposure Report, and Breach Defense, a web-based service that helps businesses identify and assess cyber vulnerabilities before they can be exploited,” Naborte added.
As cyber threats continue to escalate and take various forms, many companies, especially SMEs, have become easy targets. Biz e-Protect acts as a critical shield for business operations, ensuring resilience and seamless recovery. For inquiries or to get a quote, you may send a message to angelo.naborte@pioneer.com.ph or anna.magno@pioneer.com.ph.
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