DBS is a leading financial services group in Asia with a presence in 19 markets.
Mumbai, Maharashtra, India - Business Wire India
Onsurity has partnered with DBS Bank India to offer CyberSure, a comprehensive cyber protection plan tailored for owners of Small and Medium Enterprises (SMEs) across India.
Data from the National Crime Records Bureau revealed that in 2023 alone, Indians suffered losses exceeding INR 7,488 crore due to cyber fraud. SMEs often lack the resources and expertise to implement robust digital protection measures, making them particularly vulnerable to cyber threats. To address this, CyberSure offers a suite of value-added benefits, with a sum insured of INR 10,000 per customer. DBS Bank India will cover the cost of the first month for 10,000 eligible SME owners. After the initial free month, users can continue with the plan through an affordable monthly subscription.
Key features of the plan include:
Comprehensive insurance coverage for digital theft, available through a convenient monthly subscription plan for all users.
24/7 dark web monitoring to safeguard users' identities by scanning the dark web for signs of their private credentials being exposed in a data breach. If any credentials are found, CyberSure will promptly alert the user and provide clear instructions on how to protect their identity.
Engaging edutainment modules with videos and interactive content in regional languages to enhance cybersecurity awareness. These modules cover topics such as personal information protection, social engineering, phishing, and password safety, making cybersecurity an integral and effortless part of users' daily lives.
A thorough digital health check that offers users a quick evaluation of their digital well-being and a digital health score.
Speaking about the partnership, Kulin Shah, Co-founder and Chief Operating Officer of Onsurity, said, "SME business owners often juggle multiple responsibilities, but cyber safety demands specialised attention, especially given the sophisticated threats we face today. Our monthly subscription-based model offers SME owners peace of mind, allowing them to focus on growing their business while we handle their cyber protection. With DBS Bank India's strong presence in the SME sector, we couldn't have asked for a better partner to bring this essential product to market."
Sudarshan Chari, Managing Director & Head - SME Banking, DBS Bank India, said, "As cyber threats become more complex, SMEs need robust and accessible protection to secure their operations and data. CyberSure provides an additional layer of security, allowing entrepreneurs to focus on what matters most: growing their businesses. This aligns seamlessly with our brand promise of 'live more, bank less.' Onsurity's expertise in providing tailored tech solutions complements our efforts, further empowering SMEs. We will continue to leverage our strong ecosystem partnerships to deliver solutions that go beyond traditional banking and address the unique challenges faced by SMEs."
The companies formalised this partnership by signing a Memorandum of Understanding at the recently concluded Global Fintech Festival, one of the largest fintech conferences in the world organised annually by the Payments Council of India (PCI), the National Payments Corporation of India (NPCI), and the Fintech Convergence Council (FCC).
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia, and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world. In 2024, CRISIL Ratings reaffirmed its 'CRISIL AAA/Stable' rating on the corporate credit facility of DBS Bank India Ltd (DBIL). The rating on the certificate of deposits programme was also reaffirmed at 'CRISIL A1+'.
Recognised for its global leadership, DBS has been named "World's Best Bank" by Global Finance, "World's Best Bank" by Euromoney, and "Global Bank of the Year" by The Banker. As a different kind of bank, DBS is at the forefront of leveraging digital technology to shape the future of banking, having been named "World's Best Digital Bank" by Euromoney and the world's "Most Innovative in Digital Banking" by The Banker. In addition, DBS has been accorded the "Safest Bank in Asia" award by Global Finance for 15 consecutive years from 2009 to 2023. In line with its focus on responsible banking, DBS was named the Best Bank for Sustainable Finance - India by Global Finance in 2024. Additionally, DBS Bank was ranked among the top 3 on Forbes' list of the World's Best Banks in India for three consecutive years, from 2020 to 2022.
DBS Bank has been present in India for 30 years, opening its first office in Mumbai in 1994. DBS Bank India Limited is the first among the large foreign banks in India to start operating as a wholly owned, locally incorporated subsidiary of a leading global bank. As a trusted partner, DBS provides a range of banking services for large, medium, and small enterprises and individual consumers in India, focusing on a seamless customer experience that helps them 'Live more, Bank less'. In November 2020, Lakshmi Vilas Bank was merged with DBS Bank India Limited. DBS Bank India now has a network of nearly 500 branches in 19 Indian states.
DBS is committed to building lasting relationships with customers as it banks the Asian way and understands the intricacies of doing business in the region's most dynamic markets. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
About Onsurity
Founded in February 2020, Onsurity is a Bengaluru-based employee healthcare benefits provider for India's SMEs, start-ups, and enterprises. The company has served 15,00,000+ lives and has onboarded 8,000+ companies, including Jupiter Money, CleverTap, Porter, Zepto, Sobha Developers, DBS Bank India, Pantaloons, and Naturals Ice Cream, among others.
Onsurity, India's 1st SME-focused insurtech, is on a mission to make healthcare accessible for India's missing middle. Through holistic healthcare and wellness solutions, the company offers businesses the flexibility of monthly subscriptions for payments, and the convenience of usage through its Super App. Onsurity's broader mission extends beyond safeguarding health; it encompasses a holistic commitment to empower SME businesses across the country.
Onsurity is backed by International Finance Corporation, Quona Capital, Nexus Venture Partners, Whiteboard Capital, and other technology and impact investors. In October 2022, cricket legend Anil Kumble joined Onsurity as a strategic advisor. The company was recognised as "Dun & Bradstreet Start-up 50 Trailblazer 2023" by D&B India.
Atmanirbhar Suraksha Insurance Private Limited (ASIPL) is a wholly-owned subsidiary of Onsurity Technologies Private Limited | IRDAI Corporate Agent Registration Number: CA0836| Category - Corporate Agent (Composite) | CIN - U74999KA2021PTC143928
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