BlinkSM by Chubb® recently announced that it will partner with SoFi (NASDAQ: SOFI), the digital personal finance company, to help SoFi members protect their holistic digital footprint with the launch of personal cyber insurance.
As more people move towards hybrid work models, where sensitive data is stored at home on various devices, or is vulnerable to third party downloads etc. the risk landscape is changing. Blink by Chubb offers a suite of Chubb-backed personal insurance products distributed through the company’s digital brokers and affinity partners, such as SoFi. Chubb is the world’s largest publicly traded property and casualty insurance company.
Blink Cyber is a stand-alone insurance policy that addresses the needs of customers facing the increasingly growing risk of cyber-attacks. The policy responds to expenses related to a personal cyber event, including cyber bullying, phishing scams, ransomware extortion and cyber financial fraud.
“At SoFi, everything we do is geared toward helping people get their money right and we’ve built our business around a mission to help people reach financial independence to realize their ambitions,” said Jennifer Nuckles, SoFi’s EVP and Group Business Unit Leader, Relay, Lantern, Content, At Work, Partnerships, & Protect. “And while this long-standing members-first, mission-driven approach will always guide our strategy, we also know how important it is to remain agile as we evolve our products and services to support our 4.3 million-plus SoFi members in a quickly changing, and increasingly complex, digital world. Adding Blink Cyber to the SoFi Protect portfolio of insurance offerings underscores that commitment by providing our members with a robust cyber insurance offering to protect against unexpected hurdles in the digital world — like identity theft, data loss, and online scams — that come up along the way.”
“SoFi and Blink by Chubb have shared ambitions to provide simple, easy-to-understand and affordable personal cyber insurance to safeguard consumers in a world that is increasingly connected through digital means,” said Leslie Marshall, Senior Vice President, Head of Blink by Chubb. “Whether you use social media accounts daily or own smart home devices to control your personal climate, our expanding digital world provides increased access points for bad actors to seize control, and Blink Cyber is an easy way to provide the right coverage at the right time.”