Waffle news

The Future of Cyber Insurance Is Here, And It's All About Protecting Gamers

NEW YORK, NY – March 14, 2023 – From mastering complex quests in mythical lands to outmaneuvering opponents in virtual battlefields, gaming has captured the hearts of millions worldwide. But what happens when a gamer's account is compromised by a cyberattack and valuable digital assets are stolen?

Waffle, an all-in-one consumer InsurTech solution, and BlinkSM by Chubb®, a growing suite of Chubb-backed digital consumer insurance products, provide insurance protection for the financial investments gamers make to level-up their virtual experiences. Chubb is the world's largest publicly traded property and casualty insurance company.

With a growing love for console, PC, and mobile games, the gaming industry is bigger than ever before. Over 160 million Americans are gamers, spending an average of $76 per month on online games, in-game purchases, DLC, skins, costumes, and more.

According to Norton, nearly half of American gamers have unfortunately experienced a cyberattack to their gaming account or device. Of those, more than three in four (76%) report that they were financially affected as a result, losing a striking $744 on average.  Many gamers have had limited insurance protection options for their digital assets. But that can change, thanks to the collaboration between Waffle and Blink by Chubb.

At Waffle, we know the gaming world inside and out, as we are gamers ourselves. "From Zelda to Call of Duty with every Witcher, FIFA and 2048 in between, we live and breathe gaming," said Quentin Coolen, CEO of Waffle. "As gamers, we know firsthand the thrill of exploring new worlds and achieving epic victories within our favorite games. We also understand the gut-wrenching feeling of losing everything in an instant because of a cyberattack. Whether it's our digital game collection or cherished in-game purchases, these are more than just virtual assets – they represent the time and effort we've invested into our passion. That's why we teamed up with Blink by Chubb to bring personalized cyber protection to fellow gamers. We're on a mission to empower gamers to play fearlessly and protect what matters most to them.”

Through Blink by Chubb’s cyber insurance protection, available in 44 states, Waffle customers will be able to protect their online gaming goods against cyberattacks, among other things. But that's not all - coverage extends well beyond gaming to safeguard many aspects of your digital life. From identity theft and cyber financial fraud to breach of privacy and beyond, this insurance can provide valuable protection at just about every step of the way in our increasingly digital world. For more information on the policy, check out the policy sample here.

“We are thrilled to broaden our partnership with Waffle and provide the gaming community with cyber insurance that not only protects their financial investments in digital gaming assets, but also keeps their focus on getting to the next-level and venturing boldly into the virtual world,” said Laura Bennett, President of the North America Digital Consumer Division at Chubb.

To learn more about Waffle, please visit www.waffleinsurance.com.

To learn more about Blink by Chubb, please visit https://www.blinkinsured.com

About Waffle

Born at MIT and raised in New York, Waffle is an all-in-one consumer InsurTech solution that meets all of your insurance needs in one easy-to-use platform. Available in all 50 States, Waffle provides customers nationwide with top-rated insurance products many of which have limited to no exclusions. Investors include Sony Innovation Fund, Barclays, BetterLabs Ventures, Verve Ventures, Techstars, and others. To learn more, please visit www.waffleinsurance.com.