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**Zurich Insurance Group Bolsters Cyber Insurance Offerings with Acquisition of BOXX Insurance**
Zurich Insurance Group has made a significant stride in the cyber insurance sector with its recent acquisition of BOXX Insurance Inc., a Toronto-based insurtech specializing in cyber insurance and risk management. The deal, finalized in July 2025, marks a strategic move by Zurich to strengthen its position in the rapidly growing cyber insurance market, projected to reach $30 billion by 2026.
BOXX Insurance operates a tech-driven, scalable platform that seamlessly integrates cybersecurity tools with tailored insurance products. Its Cyberboxx® suite offers a comprehensive "protection plus prevention" model, encompassing services such as dark web monitoring, password management, and threat prediction, targeting primarily small to medium-sized enterprises (SMEs) and individual customers across five continents.
By acquiring BOXX, Zurich gains access to this innovative platform that not only provides insurance coverage but also actively reduces cyber risk exposure through proactive digital resilience tools. This approach contrasts with traditional insurers who typically focus only on post-incident coverage. BOXX’s subscription-based service model generates recurring revenue, adding a new dimension to Zurich's business.
BOXX will continue to operate under its existing brand but will now form part of Zurich Global Ventures (ZGV)’s suite of digital-first services. Cara Morton, CEO of Zurich Global Ventures, expressed excitement about strengthening the partnership with BOXX, stating that it will further enhance customer engagement and offer integrated, digital-first cyber insurance solutions that simplify clients' interactions with cybersecurity.
The acquisition also addresses a strategic weakness in Zurich’s portfolio by expanding its capabilities in cyber risk management and capitalizing on the growing demand for cyber protection among underserved SMEs, with 62% of which currently lacking adequate cyber insurance coverage.
Zurich's growth strategy in cyber solutions is expected to be supported by the inclusion of BOXX. Vishal Kundi, CEO and Co-Founder of BOXX Insurance, stated that becoming part of Zurich will accelerate their mission to provide integrated solutions that make people's everyday life easier.
Zurich's products are tailored for both retail and B2B2E clients, focusing on integrated, customer-centric products covering prevention, protection, and recovery. The combination of Zurich and BOXX is expected to provide more customers with the protection they need to navigate the digital world with confidence.
The financial details of the acquisition have not been specified by Zurich Insurance Group.
[1] Cybersecurity Ventures. (2022). The 2025 Global Cybersecurity Market Report. Retrieved from https://cybersecurityventures.com/cybersecurity-market-report/ [2] BOXX Insurance. (2022). Cyberboxx® Suite. Retrieved from https://www.boxxinsurance.com/cyberboxx [3] Zurich Insurance Group. (2022). Zurich Global Ventures. Retrieved from https://www.zurich.com/en/zurich-global-ventures [4] Insurance Business. (2022). Zurich Insurance Group buys BOXX Insurance for undisclosed sum. Retrieved from https://www.insurancebusinessmag.com/uk/news/mergers-acquisitions/zurich-insurance-group-buys-boxx-insurance-for-undisclosed-sum-185865.aspx [5] Insurance Business. (2022). Zurich Insurance Group acquires BOXX Insurance. Retrieved from https://www.insurancebusinessmag.com/ca/news/mergers-acquisitions/zurich-insurance-group-acquires-boxx-insurance-185864.aspx
Zurich Insurance Group's acquisition of BOXX Insurance bolsters its presence in the rapidly expanding cyber insurance market, leveraging BOXX's tech-driven platform that combines cybersecurity tools with tailored insurance products. This strategic move positions Zurich to capitalize on the growing demand for cyber protection among small to medium-sized enterprises.
The fusion of Zurich and BOXX's expertise in finance, business, and technology is expected to offer integrated, customer-centric cyber insurance solutions that proactively reduce cyber risk exposure for clients.
