Incredible Connection has partnered with cyber-security based insurance company Phishield to offer consumers cyber-fraud and phishing insurance cover, at no additional cost, for all Internet-enabled products, across selected lines.
Mastura Ahmed, marketing executive at Incredible Connection, comments: “We understand that as a responsible retailer we need to optimise all touch points of the product experience – those that have a potential impact on the consumer.
“We need to find ways to mitigate any negative experience they may have – and of course, the protection against a global phenomenon such as phishing is certainly another way we are able to do just this.”
The Phishield cover will be bundled with Incredible Connection Internet-enabled products as a value-add, and will entitle consumers to a 12-month policy that will insure their financial standing against loss of funds through phishing, in the event that the bank does not reimburse the client.
The cover is worth R5 000, and consumers have the opportunity to upgrade to a higher cover – either at time of registration or after the initial 12-month period.
Incredible Connection customers will be given a premium discount on any upgrades as well as policy continuation after the 12 month period.
“Consumers are at very high risk when it comes to phishing, given the increasing use of mobile and online platforms to bank, shop, get around town or make in-app purchases,” says Bruce Goodwill, director at Phishield.
“In fact, according to Kaspersky Lab, 884 774 new malicious programs were detected in 2015, a three-fold increase on 2014, indicating the vast risk as well as global need for financial protection for consumers.”
Incredible Connection customers will also have access to a technical support team, available for queries or claims, across all channels including online, telephone and email.
In addition, as a registered FSP and Underwriting Management Agency and backed by re-insurer Zurich Re, Phishield ensures compliance with all insurance frameworks and offers the Incredible Connection consumer peace of mind that their policy is managed by a reputable business.
“We are excited to join Incredible Connection’s retail approach to cyber-fraud insurance and look forward to educating consumers on the importance of protecting themselves financially,” Goodwill adds.