Zurich Acquires Toronto-Based Cyber Insurtech BOXX Insurance
Zurich Acquires Toronto-Based Cyber Insurtech BOXX Insurance

Zurich Acquires Toronto-Based Cyber Insurtech BOXX Insurance

News summary

Zurich Insurance Group has agreed to acquire Toronto-based cyber insurtech BOXX Insurance, which will continue to operate as a standalone entity under Zurich Global Ventures. This acquisition builds on a collaboration dating back to 2021, with Zurich having led BOXX's Series A and B funding rounds totaling over $24 million. BOXX, founded in 2018, is known for its all-in-one cyber insurance and protection products, serving nearly one million customers globally and offering bundled cyber protection tools such as VPN, safe browsing, password management, and dark web monitoring. Zurich aims to leverage BOXX's digital-first, service-led approach to enhance customer engagement and provide integrated cyber risk solutions tailored to retail and B2B2E segments. The deal underscores Zurich's commitment to expanding its cyber insurance capabilities and investing in next-generation insurance technologies. Financial terms of the acquisition have not been disclosed.

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