Insurance Times Awards 2022: Optimum Speciality Risks believes its home cyber product is ‘revolutionary’

Explain your entry in the MGA Initiative of the Year category.

Optimum Speciality Risks (OSR) entered this category as we believe that our home cyber plus product is not only one of the most revolutionary initiatives undertaken in 2022, but also one of the most revolutionary products to enter the global insurance market to date.

Our families have adopted technology in the home at an outstanding rate in recent years. As a result, almost everything we now do involves the transfer of data or use of online services. For example: 

• The way that we communicate with our friends and family (Zoom, FaceTime, WhatsApp, Facebook, Instagram, etc).
• The way that we bank.
• The way that we listen to music, read books and consume entertainment.
• The way that we book travel, buy products and pay taxes.

Almost everything we do now is digital – but until the release of our cyber product, almost nothing had been done to address the personal cyber risk this created.

What do you think makes your entry stand out or different from your competition?

Working with UK reporting centre Action Fraud, the UK Police Force and anti-virus software firm Norton, we created home cyber plus to provide parents, children and the entire household with the tools required to combat their personal cyber risk effectively.

What would winning this award mean to you and your firm?

Winning this award would show the world that your family doesn’t have to fear adopting new technology.