E-Business
Airtel Africa Partners with MicroEnsure for Mobile Micro Insurance
Bharti Airtel, a leading telecommunications services provider with operations in 20 countries across Asia and Africa has announced the establishment of a strategic partnership with MicroEnsure, the world’s leading provider of mass-market insurance products, to provide insurance services to Airtel customers in Africa.
Mobile network operators in Africa have identified the growing demand for financial services, and micro insurance – a form of insurance designed specifically for low-and-middle income consumers – is no exception.
According to a study published by Making Finance Work for Africa, from 2010 to 2012 micro insurance grew more than 200% on the continent. Even so, fewer than 20 million Africans outside South Africa have any form of micro insurance, less than 5% of the potential 400 million customers in sub-Saharan Africa.
With the announcement, Airtel is the first mobile network operator in Africa to position insurance as a strategic portfolio product in partnership with a global micro insurance specialist.
The range of Airtel-branded insurance products will include life, accident, health, agriculture, and other forms of cover. Airtel will bring the products to market and promote the service with its local brand, marketing and distribution infrastructure.
MicroEnsure will design and implement products, provide technology, facilitate local and international underwriting support, and perform administration and customer service. The parties intend to expand services to several African markets over the next year.
Andre Beyers, chief marketing officer for Airtel Africa, said during the partnership announcement, “In many of our markets, less than 5% of our customers have any formal insurance products and there is demand for insurance offerings that are simple, affordable and reliable. Our partnership with MicroEnsure will deepen our value added services to our customers and provide access to insurance.”
Peter Gross, regional director of Africa for MicroEnsure, concurred. “With Airtel’s initiative to prioritize insurance in its product portfolio, insurance in Africa will change forever. The peace of mind that Airtel subscribers will have through insurance will support Airtel’s aspiration to be the most loved brand in Africa.”
E-Business
NDPC Investigates 40 Financial Sector Operators over Data Breach
Nigeria Data Protection Commission (NDPC) has said it is investigating 40 banks, insurance companies, stock brokers and other operators in the financial sector over customers’ data breach.
Dr Vincent Olatunji, national commissioner and CEO, who disclosed this at a breakfast meeting with Data Protection Compliance Organisations (DPCOs) in Lagos, said the commission would sanction the erring financial sector operators if found guilty.
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Nigeria Data Protection Regulation (NDPR) mandates FG to collect 2% of annual turnover of any organisation guilty of data breach.
“We have beamed our search light on 40 players in the financial sector. We have written to them to explain why they have not been complying with data regulations and we may sanction them if they ‘re found guilty”, Dr Olatunji said.
The NDPC boss said the erring companies had been given 21 days to answer why they should not be sanctioned.
He also disclosed that licences of some inactive DPCOs would be revoked by year end while some new ones would be licensed.
He disclosed that there are over 500,000 data processors organisations in Nigeria, adding that all of them would be monitored on how they handle data of Nigerians.
While warning companies and government agencies collecting data of Nigerians in their course of operations against mishandling those data, he also assured Nigerians of adequate data protection.
He said though the commission was not afraid of lawsuits, it would not in any way trample on the rights of any organisation.
E-Business
Cybersecurity Skills Shortage Ranked as Biggest Risk to MSPs, Clients
Sophos, a global leader of innovative security solutions that defeat cyberattacks, has released its inaugural “MSP Perspectives 2024” survey report, which found that the biggest day-to-day challenge facing Managed Service Providers (MSP) is keeping up with the latest cybersecurity solutions/technologies, cited by 39% of the MSPs surveyed.
Alongside this, MSPs indicated that hiring new cybersecurity analysts to keep up with customer growth and keep pace with the latest cyberthreats were also top challenges.
The survey also reveals that MSPs perceive the shortage of in-house cybersecurity skills to be the single biggest cybersecurity risk to both their own business and their clients’ organizations.
MSPs also perceive stolen access data and credentials and unpatched vulnerabilities to be amongst the biggest security risks to their customers.
The latest State of Ransomware 2024 report found that nearly a third (29%) of ransomware attacks started with compromised credentials, showing the prevalence of this entry vector.
“The speed of innovation across the cybersecurity battleground means it’s harder than ever for MSPs to keep up with threats and the cyber controls designed to stop them.
“When you couple this with a global skills shortage, which has made it infinitely more difficult for many MSPs to attract and retain cybersecurity analyst resources, its unsurprising that MSPs feel unable to keep pace with the changing threat landscape,” said Scott Barlow vice president of MSP at Sophos.
“This is all compounded by the need for 24×7 coverage as indicated in our 2023 Active Adversary report for Tech Leaders, which finds that 91% of ransomware attacks now happen out of business hours.”
In response to this complex threat landscape, there is growing demand for managed detection and response (MDR) services to provide always-on coverage. Currently 81% of MSPs offer an MDR service, and almost all (97%) MSPs that do not currently offer MDR plan to add it to their portfolio in the coming years.
Reflecting the shortage of in-house cybersecurity skills, 66% of MSPs use a third-party vendor to deliver the MDR service and a further 15% deliver jointly through their own SOC and a third-party vendor.
Topping the list of essential capabilities in a third-party MDR provider is the ability to provide a 24/7 incident response service.
MSPs are also streamlining their cybersecurity partnerships, working with a small number of vendors.
The study revealed that over half (53%) of MSPs work with just one or two cybersecurity vendors, rising to 83% that use between one and five.
Reflecting the effort and overhead of running multiple platforms, MSPs estimate that they could cut their day-to-day management time by 48% if they could manage all their cybersecurity tools from a single platform.
Other interesting findings from the report include:
· 99% of MSPs report an increase in demand for cyber insurance-related support, with the most common requests including clients wanting to implement an MDR service to improve their insurability (47%) or to receive help completing their insurance application (45%).
· MSPs want flexibility from their MDR provider, with 71% saying it is “essential or very important” that the vendor can use telemetry from their existing security tools for threat detection and response.
· MSPs in the U.S. lead the way in MDR service provision with almost all (94%) already offering MDR, compared to 70% in Germany, 62% in the U.K., and 58% in Australia.
“While MSPs have a huge job to do in protecting their customers against fast moving adversaries, there’s tremendous opportunity to grow their business and profitability if they can find the right security set up.
“The data shows that MSPs are strengthening their proposition and reducing overheads by amalgamating the platforms they use and engaging with third-party MDR vendors to expand their service offerings.
“As they look to build their security offering of the future, they should prioritize vendors that can offer a complete portfolio of industry-best, fully managed security services and solutions,” continued Barlow.
Data for the MSP Perspectives 2024 report comes from a vendor-agnostic survey of 350 MSPs across the U.S. (200), U.K. (50), Germany (50) and Australia (50). The survey was commissioned by Sophos and conducted by research house Vanson Bourne in March 2024.
Read the MSP Perspectives 2024 report for global findings and data by sector on Sophos.com.
E-Business
Hurry as Konga Tech Month Discount Offer Ends on May 31st
Konga Tech Month sales campaign from e-commerce giant Konga has been nothing short of a sensation since it kicked off on the 1st of this month. With massive discounts promised on a wide range of tech products, shoppers have flocked to Konga’s website in droves, taking advantage of the incredible deals on offer.
However, with just two days left before the campaign ends on Friday, May 31, the clock is ticking for shoppers to grab their favorite items at unbeatable prices.
Throughout the month, Konga has lived up to its promise of delivering mouth-watering deals and discounts to its customers. From smartphones and laptops to home appliances and gadgets, there has been something for everyone at Konga Tech Month. Whether you’re looking to upgrade your tech arsenal or simply snag a bargain on essential items for your home, now is the time to act.
The sheer magnitude of the discounts on offer sets Konga Tech Month apart. Shoppers have been treated to unprecedented deals on some of the biggest brands in the industry, with discounts of up to 50% or more on select items. From flagship smartphones to cutting-edge gadgets, Konga has pulled out all the stops to ensure customers get the best possible deals.
Konga Tech Month goes beyond just tech gadgets and home essentials. The event recognizes the growing need for reliable internet access in Nigeria. As the trusted platform for acquiring genuine Starlink Kits, Konga offers these innovative satellite internet solutions at attractive deals. But the good news does not stop there. During Konga Tech Month, shoppers can benefit from nationwide free delivery on Starlink kits, allowing them to connect to high-speed internet even in remote areas, empowering them to stay connected and bridge the digital divide.
Konga Tech Month is more than just a shopping event. It is a tech revolution that has empowered Nigerians to access technology that improves their lives, businesses, and connections to the world. With unbeatable discounts, genuine products, and unparalleled convenience, Konga has once again proven why it is the go-to destination for tech enthusiasts and savvy shoppers alike.
But with just two days left until the end of the month, now is the time to make your move. Don’t miss out on the opportunity to grab incredible deals on your favorite tech products before it’s too late. Whether you’ve had your eye on that new smartphone or you are in need of a new laptop, there’s never been a better time to shop at Konga.
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