cyan AG and wefox Austria launch first mobile app for integrated cyber and insurance protection with Allianz Partners

weprotect: cyan AG and wefox Austria launch first mobile app for integrated cyber and insurance protection with Allianz Partners

Munich, 14 August 2024 – cyan AG, a provider of intelligent cybersecurity solutions, and wefox Austria, a leading provider of a SaaS platform for insurance brokers, are launching bundled cyber and insurance protection for customers in Austria for the first time in cooperation with Allianz Partners, a leading provider of assistance and insurance solutions. The common goal is to make everyday digital life safer for people and to ensure adequate protection against cyberattacks and the resulting financial losses, both preventively and retrospectively.

As shown by the latest KPMG study "Cybersecurity in Austria" (2023), the number of cyberattacks alone increased by 201% compared to the previous year.^[1] According to the Austrian Federal Criminal Police Office (BKA), more than 70% of all cybercrime cases start with a phishing attack, making it the biggest cyber threat for end users, whether in companies or in private use. The potential damage is enormous. Proven, adequate protection against data theft, misuse or loss also plays an enormously important role in the EU General Data Protection Regulation (GDPR).

"Even minor inattentiveness in everyday data handling, whether it's accessing an unprotected WLAN or clicking on seemingly confidential phishing links, has a direct impact on risk potential and therefore increases the probability of a cyber-attack many times over. Cyber criminals use the latest technologies, and there are no longer any limits to their creativity! With weprotect, we have created a solution that serves as an early warning system and intervenes preventively to protect customers," explains Markus Cserna, Chief Technology Officer (CTO) of cyan AG.

"The enormous increase in cyber-attacks in Austria is particularly noteworthy, with 34% of employees having already experienced one and 88% having received suspicious emails.^[2] With weprotect, we provide state-of-the-art security technology in the form of an app as a preventive measure and, if something does happen, insurance cover so that you are protected in the event of damage," adds Rene Besenbäck, Managing Director of wefox Austria.

weprotect Security App for the best possible protection on the end device
The security app weprotect developed by cyan detects cyber threats in real time and is therefore the digital security belt for smartphones and mobile devices. It drastically reduces the risk of cyberattacks by protecting the user from phishing attacks, malware, ransomware and other malicious attacks. For example, as soon as a user clicks on a malicious link, the app sends a push warning with a "blocking page". According to the cyan experts, up to 98 percent of all phishing links can be blocked with weprotect. If worst comes to worst, the insurance cover takes effect.

wefox insurance concept, if something does happen
The insurance concept developed by wefox Austria and integrated into weprotect is implemented by Allianz Partners. It offers insurance cover for online banking, online shopping and covers damage caused by phishing attacks, identity theft or data loss. Additionally it includes IT support on the end device. This means that users are covered in the event of a claim and have a reliable partner at their side. The amount of the premium depends on the number of devices insured in the weprotect package.

weprotect goes to market
The official market launch for weprotect as an "all-in-one cyber protection" is September 3, 2024. weprotect will be sold directly via wefox, as well as via connected brokers or affinity partnerships. wefox acts as a hub between customers, insurance brokers and partners with its wefox service platform.

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About wefox Austria:
wefox serves more than 183,000 customers across Austria via the wefox (AT) broker service portal, which brings insurance companies, sales partners and customers together with easy access to advice and digital insurance solutions. More than 260 regional partners and 605 insurance experts are already using fully digitalized processes and training for their own employees. The successful business development underlines the importance of wefox in Austria as a stable and healthy growth company within the wefox Group. The wefox team in Austria is represented by over 30 employees in Vienna and Amstetten. Sustainable growth and profitability are the clear focus of the wefox Austria management team Rene Besenbäck (Country Head) and Lukas Lindenhofer. Further information at: www.wefox.at

Media contact wefox Austria
Isabella McGarry
Teamlead Marketing, wefox AT
Phone: 0676 85294936
Email: isabella.mcgarry@wefox.com

public affairs SCHMIED
Monika Schmied, MBA 
Phone: 0676 67 000 22 
Email: monika@publicaffairs-schmied.at

About cyan:
cyan AG (XETR: CYR) is a provider of intelligent cybersecurity solutions with more than 15 years of experience in the IT industry. The company offers IT security products for end customers of mobile and fixed network internet providers and financial service providers. cyan's solutions are integrated as white label products into the apps and system landscape of international business partners, who then offer those to private and business customers under their own brand.

In addition, cyan operates its own research and development center with the aim of identifying trends in the industry at an early stage and developing optimal product solutions. cyan's customers include among others the Orange Group, the telecom group Deutsche Telekom (Magenta/T-Mobile), Claro Chile (América Móvil Group) and dtac (Telenor Group).

More information at: www.cyansecurity.com.

cyan AG Investor Relations:
cyan AG
Phone: +49 89 71042 2073 
Email: ir@cyansecurity.com

cyan AG Press contact:
Kirchhoff Consult GmbH
Phone: +49 40 60 91 86 65 
Email:  cyan@kirchhoff.de

About Allianz Partners:
Allianz Partners is a leading global provider of B2B2C insurance and assistance services, offering global solutions in the areas of travel, health, mobility and home & living. Customer-centric, our innovative experts redefine insurance services by delivering future-proof, high-tech, high-touch solutions that go beyond traditional insurance. Our products are seamlessly embedded in our partners' businesses and sold through intermediary channels or directly to customers via the Allianz brand. Our 21,900 employees are present in over 75 countries, speak 70 languages, handle over 72.5 million cases every year and are motivated to go the extra mile to provide peace of mind to our customers around the world.

The Vienna branch has over 200 employees working 24/7 to help customers in 13 languages, including German and English.

You can find more information about Allianz Partners here: www.allianz-partners.at.

Media contact Allianz Partners Österreich:
Sabine Forsthuber
Communications
Phone: +43 664 80653131
Email: sabine.forsthuber@allianz.com

^[1] Cybersecurity in Österreich, KPMG, 03.05.2023
^[2] Cybersecurity survey among employees, EY, 17.10.2023