Zurich Insurance Group (Zurich) has completed the acquisition of BOXX Insurance, a Toronto-based insurtech specialising in cyber insurance and risk management.

The move aims to enhance Zurich’s offering of cyber insurance and related services for retail and SME customers worldwide.

BOXX will be incorporated into Zurich Global Ventures (ZGV), where it is expected to support the unit’s growth strategy in cyber solutions and help broaden its portfolio of services.

While BOXX will continue to operate under its existing brand, it will now form part of ZGV’s suite of digital-first services, which spans life protection, employee benefits, and travel.

ZGV focuses on integrated, customer-centric products covering prevention, protection, and recovery, tailored for both retail and B2B2E clients.

“We have had a very successful collaboration with BOXX since 2021, and I am thrilled to strengthen our partnership by welcoming BOXX to Zurich Global Ventures,”

said Cara Morton, CEO of Zurich Global Ventures.

“BOXX’s digital-first, service-led approach will help us further enhance customer engagement and provide integrated solutions that make people’s everyday life easier.”

Vishal Kundi, CEO and Co-Founder of BOXX Insurance, commented:

“Becoming part of Zurich provides us with the resources and global reach to accelerate our mission. Combining the strengths of both organisations will enable us to provide even more customers with the protection they need to navigate the digital world with confidence.”

Featured image credit: Zurich Insurance