Since the war in Ukraine, cyber risks have increased dramatically. In France for instance, ANSSI (Agence nationale de la sécurité des systèmes d’information) even asked administrations and companies to reinforce their cyber-vigilance.
But beyond geopolitical tensions, cybersecurity is a long-term trend – and a huge market – with vital consequences for attacked companies. Especially SMEs, which represent very vulnerable targets, even if they are less lucrative for pirates than big corporations. Nearly 67% of SMEs say they have already suffered an incident related to malware. Worst, 50% of SMEs blocked for several weeks following a cyber attack go bankrupt within 6 months!
All those reasons led serial entrepreneur Benoît Grouchko (founder of the data marketing platform Teemo sold to Near in 2020) and Charlotte Couallier (former sales director of partnerships at AXA France) to join their skills and expertise to launchDattak.
Dattak already offers a complete insurance product for SMEs, with a very simple subscription process, coupled with a software that allows users to analyze their cyber profile and identify security flaws that need to be resolved.
The insurance product includes support to manage the crisis situation and to get back to normal as quickly as possible, as well as compensation for all damages caused by the attack. To reduce the risk of attacks, Dattak also provides its clients with its cybersecurity technology to alert them when vulnerabilities are detected and offers education and training for employees.
Abroad, several pioneers have already validated Dattak’s model, like as Corvus Insurance and Coalition in North America, showing that assessing and covering such risks is possible and profitable. But until now, they didn’t have European counterparts…
That’s why Dattak’s ambition is to be the leader in cyber insurance in Europe, by protecting tens of thousands of companies. It plans to recruit more than 10 people this year as sales, engineers or underwriters. XAnge is very proud to be part of this adventure from Day1!