The app, called weprotect, will be sold directly via Wefox, as well as through connected brokers or affinity partnerships. The app’s security features have been designed by cyan AG and are able to detect cyber threats in real-time, blocking phishing attacks and checking for identity theft, among many other features.

Allianz Partners provides the cyber insurance coverage and reimburses users in the event of phishing attacks, identity theft, or data loss. The app only functions if used in conjunction with an active insurance policy from Allianz Partners. The new product will be available from September.

Markus Cserna, CTO of cyan AG, commented: “Even minor inattentiveness in everyday data handling, whether it’s accessing an unprotected WLAN or clicking on seemingly confidential phishing links, has a direct impact on risk potential and therefore increases the probability of a cyber-attack many times over. Cybercriminals use the latest technologies, and there are no longer any limits to their creativity! With weprotect, we have created a solution that serves as an early warning system and intervenes preventively to protect customers.”

Rene Besenbäck, Managing Director of Wefox, added: “The enormous increase in cyber-attacks in Austria is particularly noteworthy, with 34% of employees having already experienced one and 88% having received suspicious emails. With weprotect, we provide state-of-the-art security technology in the form of an app as a preventive measure and, if something does happen, insurance cover so that you are protected in the event of damage.”