NCBA Insurance Launches CyberGuard — A Cyber Insurance Offering To Protect Businesses In Kenya From The Ever Evolving Cyber Threat Landscape
The digital transformation of the Kenyan economy is not just a trend; it’s a fundamental reshaping of how business is done. But as technology adoption accelerates, so does the sophistication and frequency of cyber threats.
Cybercrime is already one of the world’s costliest challenges, with annual damages projected to hit USD 10.5 trillion by 2025. In Africa, cyberattacks are growing rapidly, yet most businesses remain underprepared.
Earlier today, I attended the launch of CyberGuard, NCBA Insurance’s new cyber insurance and cybersecurity offering designed to protect businesses of all sizes across Kenya from the financial and operational fallout of cyber attacks. The launch, held at JW Marriott in Nairobi, could not have come at a more urgent time for Kenya’s digital economy.
The Evolving Cyber Threat Landscape
The launch event painted a clear picture of the modern battlefield. The narrative is no longer about if a business will be targeted, but when. Cyber threats like phishing, smishing, deepfakes, ransomware, and data breaches are on a dramatic rise, transforming the landscape of corporate risk management. For any business leader, understanding and mitigating these risks has become essential for survival.
This is the core challenge NCBA aims to address with CyberGuard. The proposition is built on the understanding that in our interconnected world, cybersecurity insurance is set to define the future of risk protection. It’s positioned as a strategic tool designed to de-risk business exposure and empower organizations to maintain a competitive edge, embrace innovation confidently, and future-proof their operations.
A Tailored Solution For Every Business In Kenya
What stands out about the CyberGuard offering is its deliberate, two-pronged approach designed for the diverse Kenyan market. NCBA has developed two distinct products:
- Comprehensive Coverage for Large Corporates: This is designed for larger organizations with complex, multi-market risks that require a robust and detailed insurance framework.
- Simplified, Affordable Policies for SMEs: Recognizing that small and medium-sized enterprises are the engine of our economy — and often the most vulnerable — NCBA has created an accessible policy that offers essential protection without overwhelming complexity.
The message is clear: no business should be left behind in the journey to cyber resilience. This is especially critical for key sectors driving demand, including Manufacturing & Industrial, Retail & Wholesale, Technology, and Property Construction & Management, all of which are prime targets for cybercriminals.
Beyond Premiums: Comprehensive, Forward-Looking Coverage
Given the significant strides have been made in technology adoption, challenges in managing cyber risks within a complex regulatory environment persist. NCBA has made it clear that CyberGuard was developed in partnership with global players to be a timely, relevant, and forward-looking solution.
The coverage goes beyond simple data loss, addressing the most pressing financial and operational impacts of a cyber incident. The policy is designed to cover:
- Ransomware and data breach liabilities
- Business interruption due to cyber incidents
- Regulatory fines and legal costs
- Crisis management and forensic investigation
By tackling these critical areas, NCBA is offering more than just a financial payout; it’s providing a lifeline that enables a business to manage a crisis, recover its operations, and protect its balance sheet.
Implications & Considerations
CyberGuard is arriving at precisely the moment Kenya needs it most. For corporates, it represents a sophisticated safety net that complements existing cybersecurity frameworks. For SMEs, it opens the door to protection that has previously been out of reach, empowering them to operate with confidence in an increasingly digital-first economy.
The launch of CyberGuard by a major financial services player like NCBA is a significant milestone. It signals a maturation of the Kenyan market, where cyber insurance is rightly moving from a niche product to an indispensable component of modern enterprise risk management. For businesses of all sizes, this is a welcome and necessary evolution in building a truly resilient digital future.
