Apple and Cisco Team Up on Cybersecurity Insurance
Apple and Cisco have teamed up with an insurance company to financially protect customers against cyber attacks.
As part of a broader package, insurance firm Allianz will provide discounted cyber security insurance coverage to customers that use certain Apple devices and Cisco security products. Additionally, professional services firm Aon will perform security consulting.
“We’re thrilled that insurance industry leaders recognize that Apple (AAPL) products provide superior cyber protection, and that we have the opportunity to help make enhanced cyber insurance more accessible to our customers,” Apple CEO Tim Cook said in a statement.
Cook and Cisco (CSCO) CEO Chuck Robbins said in June that the two companies were exploring a joint-insurance policy program for corporate customers that use their two products, but they didn’t reveal their insurance company partners at the time.
The move highlights Apple’s desire to become a big business technology provider that sells its flagship iPhones, iPad, and Mac computers to corporate offices.
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Apple formed a partnership with Cisco in 2015 in which the two companies share engineering teams that make their respective technologies more compatible with each other. At the time, the two companies were working to make Cisco’s networking and video and web conferencing services work better with Apple’s iOS and MacOS devices, but it appears they have since expanded it to include Cisco’s security services.
In August, insurance giant American Insurance Group said it would start selling cyber security insurance plans to U.S. consumers who fear that their sensitive data like social security or credit card numbers could get exposed to hackers online.
Clarification: This article was updated to make clearer that Cisco and Apple are not directly selling insurance.