SCOR strengthens cyber capabilities by partnering with Baobab Insurance

The SCOR Syndicate at Lloyd’s has extended the underwriting capacity of German digital risks MGA Baobab Insurance to companies with up to EUR 1 billion in annual revenue in Germany and Austria, thereby strengthening SCOR’s capabilities in cyber insurance in the European market and addressing the rising exposure of industrial clients.

New partnership facilitated by the SCOR Syndicate at Lloyd’s 

SCOR has partnered with German digital risks MGA Baobab Insurance to expand the capacity on Baobab’s “CyberSafe” offering, which provides companies with preventive and ongoing protection against cyber risks.

By adding to Baobab’s existing binder agreement, the SCOR Syndicate at Lloyd’s has extended coverage to companies with up to EUR 1 billion in annual revenue in Germany and Austria, adding SCOR’s expertise and balance sheet strength to a select group of Lloyd’s syndicates already supporting the MGA. 

Cutting-edge technology for enhanced underwriting and proactive risk mitigation

SCOR’s decision to enter into the partnership was underpinned by Baobab’s data-driven underwriting model, which prioritizes proactive risk assessment and prevention over traditional claims management. Baobab’s proprietary Deep Scan technology delivers a data density six times higher than that produced by traditional methods, providing SCOR with an excellent level of transparency in terms of risk-adequate pricing. 

Another key factor was Baobab’s real-time vulnerability alerts, which have helped protect insureds from potential losses amounting to several million euros. This proactive risk mitigation contributes to a loss ratio significantly below market levels, aligning perfectly with SCOR’s disciplined underwriting standards.

Policyholders also benefit from comprehensive risk prevention services, including cybersecurity awareness training, phishing simulations, and direct access to Baobab’s in-house cybersecurity experts, thus enhancing resilience beyond pure risk transfer.

Strengthening SCOR’s cyber capabilities and footprint in Europe 

This coverage reinforces SCOR’s commitment to the growing cyber insurance needs of industrial clients, and broadens the foundation for underwriting complex cyber risks in the sector.

By partnering with Baobab, SCOR continues to expand its cyber underwriting footprint in Europe while supporting resilient, prevention-led approaches to managing digital risk in an increasingly complex threat landscape.

Jeremy Campagno, Head of EMEA, Cyber & Technology at SCOR Business Solutions, commented: "Baobab combines impressive technological expertise with a data-driven underwriting strategy. This partnership supports SCOR’s broader strategy to expand in Europe and strengthen its capabilities in cyber insurance whilst addressing the rising exposure of industrial clients.”

Vincenz Klemm, Co-founder and Managing Director of Baobab Insurance, commented: "The partnership with SCOR is a major milestone. By increasing our underwriting authority to companies with up to one billion euros in revenue, we are entering a new dimension. We are proving that our digital approach of data-driven risk assessment and prevention possesses the necessary depth not only for SMEs but also for the upper industrial sector."

About Baobab Insurance 

Baobab Insurance is an MGA for digital risks. Its product portfolio includes cyber insurance, an e-crime product, and an IT liability policy for IT, software, technology, and telecommunications companies in Germany and Austria. A core component of the insurance service is continuous, AI-based cybersecurity monitoring. Together with the broadest partner network in the German market, Baobab also offers risk-relevant services such as phishing simulations and awareness training.

Founded in 2021 in Berlin, Baobab Insurance is active in the German and Austrian markets and, as of November 2025, also in the Benelux countries. More information can be found  at: baobab.io.

About SCOR Business Solutions

SCOR Business Solutions is the large corporate risk insurance arm of SCOR. As part of SCOR’s Property & Casualty business, SCOR Business Solutions offers a comprehensive range of insurance products to address the evolving insurance needs of large commercial clients.

The team’s expertise spans Property insurance (general property, power, construction, on and offshore energy, and mining), Casualty (general liability, environmental impairment liability, professional indemnity, and executive risks), and other Specialties (cyber, marine, fine art, marine H&M, cargo, builder’s risk, political and credit risks, space, alternative solutions, terrorism and political violence, and legal solutions). We are market leaders in construction and energy, and we pride ourselves on being active enablers of the energy transition.

With more than 250 highly qualified underwriters and data analysts across Europe, North America, Latin America, and Asia Pacific, we are able to work with clients around the world whilst also offering a deep understanding of local markets and the challenges faced.

We believe that the best way to serve our clients is through collaboration and innovation, so we take the time to understand their needs and propose tailor-made solutions that deliver. SCOR Business Solutions is part of the SCOR Group.