For the first time ever, customers buying cellphones from TFG (The Foschini Group) will be financially protected, and covered for financial losses incurred due to online cyber fraud.
TFG and top local cyber insurance company Mycybercare have partnered to bundle Mycybercare policies with cellphones sold via TFG stores.
Customers, who purchase a promotional cellular bundle deal from TFG during the offer period of 1 February to 30 April 2018, will be automatically protected from fraudulent online purchases, virus attacks, fraudulent EFTs, phishing scams, fraudulent in-app purchases, as well as tap & pay fraud. Cellphones that will be bundled with a policy are Nokia, Hisense, selected Samsung, Sony, Mobicel and hi Ace and hi Pulse devices.
“This is a massive deal for us, as well as a huge game changer for the retail group,” says Simon Campbell-Young, CEO of Mycybercare. “Together, we are offering their customers a huge value-add. TFG is the first to offer this value to its customers, and this will no doubt position them as a leader and innovator in this space.”
In terms of Mycybercare, he says people around the world are waking up to the fact that cyber insurance is becoming a necessity.
However, the more connected we are, the more vulnerable we are to cyber attack. “It is way too easy to misplace a phone, or leave it on a table where it is vulnerable to theft. And with that phone goes all your most private and sensitive information,” says Campbell-Young.
This is why connected users need cyber insurance.
“Cellphones are becoming increasingly attractive targets for cyber criminals. The proliferation of applications that are used for a variety of activities, and the increasing connectivity of devices, are giving cyber thieves a range of new opportunities and vulnerabilities to exploit,” he adds.
In addition, many consumers have no security controls on their devices, and don’t make use of strong encryption or passwords. “Having cyber insurance in place allows them to shop, bank and communicate on their devices, with full peace of mind.”