QBE has invested in Zeguro, a US start-up specialising in cyber-risk solutions for SMEs.

The insurer’s venture capital arm, QBE Ventures, joined investors including a Munich Re-owned entity to support the $US5 million ($6.9 million) launch of the San Francisco business’ Cyber Safety Platform.

“Cyber security is of increasing concern for businesses of every size right around the world,” QBE Group COO David McMillan told insuranceNEWS.com.au.

“Many growing small and medium businesses, for which data is central to their operations, too often lack the resources to effectively manage it. This creates significant risk.”

QBE will offer the platform to North American clients next year before taking it to Australia and other markets.

“QBE already offers cyber insurance in Australia, and through our partnership with Zeguro we have the potential to augment our position globally,” Mr McMillan said.

The platform allows SMEs to automate cyber-security processes, and detect and manage risks.

It also makes recommendations for better cyber management across people, processes and technology.