Monitum, part of Insec Ventures, has entered into a new partnership with Tryg to further strengthen its fraud and digital protection offering.
As part of the collaboration, Tryg has developed an insurance solution for Monitum, allowing insurance protection to be integrated into Monitum's existing and future fraud-related services.
The partnership enables Monitum to move beyond prevention, monitoring and assistance by also adding financial protection when a fraud-related incident occurs.
This creates a more complete customer proposition, combining technology, support services and insurance within one integrated protection offering.
For Monitum's partners, the model provides an opportunity to enhance existing fraud and identity protection services with insurance without having to build the insurance infrastructure themselves.
The solution can be incorporated into partner propositions and distributed through Monitum's growing network of insurance companies, security providers and other consumer-facing brands across Europe.
Bringing security and insurance closer together
The partnership is also an important step in Insec Ventures' broader strategy of bringing security and insurance closer together.
Security services can help customers prevent, detect and manage risk, while insurance provides financial protection when an incident still occurs.
By combining these capabilities, Monitum can create stronger and more comprehensive protection services for both partners and end customers.
The partnership with Tryg represents another step in Monitum's development from a technology and service platform into a broader protection platform combining security, assistance and insurance.
A platform for future fraud protection services
Digital fraud, identity theft and online scams are becoming an increasingly important area for consumers, insurers and financial institutions.
By adding insurance as another layer within its fraud protection ecosystem, Monitum can develop new propositions where customers receive support throughout the entire incident journey — from prevention and detection to assistance and financial protection.