For large corporations with dedicated teams, that might be manageable. For SMEs, it often means one thing: delay (or missing out on cover entirely).
As cyber risks become more prevalent, no longer discriminating by business size or value, that potential delay matters more than ever. The reality is simple. Smaller businesses are just as exposed as larger ones - in fact 96% of Cyber-attacks target SMEs - but they are often time poor. They do not want a week-long placement process for a policy that should take minutes to arrange.
Cyber insurance has traditionally been slow and complicated for smaller organisations to access. CyberBIND changes all of that.
A Faster, Simpler Way to Buy Cyber Insurance
CyberBIND is Consilium’s new digital quote and bind platform, designed specifically for UK and Channel Island SMEs. It enables businesses to obtain a cyber quote and bind cover in as little as five minutes, from start to finish, without a prolonged manual underwriting process and endless admin.
Ethan Godlieb, Associate Partner, Cyber, Technology and Fintech at Consilium, highlights the importance of cyber cover being accessible and easy to obtain. He said, “CyberBIND allows people to get cover in place quickly and simply, without too much fuss and with minimal interaction from a broker, keeping the journey extremely simple.”
How It Works
CyberBIND has been built around a straightforward, guided experience tailored to smaller businesses that don’t have time for technical complexity or long application forms.
The information required is intentionally light and focuses on things business owners already know, including:
Business activity and revenue
Company details and contact information
Required policy limit and eCrime cover
You’ll also be asked a small number of questions about basic cyber protections - for example how access, data and payments are protected. These are simple yes/no questions, with clear explanations provided at every step.
There are very few instant declines, and the platform is designed to accommodate a wide range of SME risk profiles.
For those willing to share additional information about their cyber controls, discounts may be available. Every question includes a hover ‘?’ icon, providing clear explanations of what is being asked and why. If further support is needed at any point, users can connect directly with the team for real-time assistance. Renewals are equally streamlined. Information is pre-populated from the previous year, with auto-renewal options available, making subsequent journeys even smoother.
Speed That Matches the Risk
A cyber attack can hit any business at any time, regardless of size. Ethan explains, “If you’re vulnerable, you’re valuable - no business is too small, or too remote to experience a cyber attack.”
Cyber threats move fast and insurance placement should too. CyberBIND delivers:
The result is dramatically reduced time to protection, particularly valuable for business owners juggling competing priorities. While optimised for SME risks, the platform can also accommodate larger businesses across a wide range of industries, from financial institutions and retail through to manufacturing and construction.
Plans are already underway to extend the platform to broker partners in the near future, providing a scalable, efficient route to serve SME cyber placements without increasing operational strain. CyberBIND is cyber insurance that finally matches the pace of modern risk. To get started protecting your business against one of the fastest growing types of risk, contact Ethan today.
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