Insurance Firm Takaful Launches MyCyberCare Tool to Protect Businesses from Online Fraud

Takaful Insurance Africa
Takaful Insurance of Africa Exec Director

Takaful Insurance AfricaCybersecurity issues are not going away soon, especially in the commercial space where online fraudsters are making a killing from organizations that are not protected robustly.

In current times, we are seeing companies offer insurance solutions that cover cybercrime because it is a trustworthy business requirement, mainly for companies that manage sensitive information and are served by a computer network.

Such forms of insurance plans make part of the products offered by Takaful Insurance of Africa. The firm, which started operations nearly a decade ago, prides itself as the only Sharia-compliant insurance organization in Kenyan soil.

The latest development from Takaful is in the form of a new product, a digital data protection tool that will enable individuals and businesses to secure their online presence. Known as MyCyberCare, the product will, as Takaful puts it, cover users on all forms of online fraud and virus attacks.

“MyCyberCare Takaful monitors and protects personal digital assets and digital devices in real-time. The system creates total protection for Digital Residue, left via overexposure of your digital footprint. The system monitors and alerts for fraudulent usage of your critical data inputs such as ID, credit card, email, IP Devices, and mobile number. Advises the individual what action to take, to reduce their risk of being a victim of crime online, on an ongoing basis,” said a Takaful rep.

During the presentation, Takaful reps reiterated the importance of the now signed Data Protection Bill that details a lot of measures that can be enforced to protect personal data. However, it has been questioned if the Bill will go out of its way to implement its definitions, including shielding people and businesses from online attacks and punishing culprits accordingly.

Takaful, which says it processes cybercrime claims in under 72 hours, will avail the product to interested companies and people. Plan prices will range from KES 50000 to KES 3 million.