Spectra Partners With Beltex Insurance, Ingram Micro: Exclusive

‘The technology and resilience needed to respond to cyber threats are within the MSP ecosystem. Insurers don't have access to this level of insight, which is why they need a trusted intermediary,’ says Spectra CEO Edouard von Herberstein.

Insurance providers Spectra and Beltex have formed a strategic alliance in a move to solve long-standing challenges for MSPs in securing suitable cyber insurance. The partnership promises to provide MSPs with faster, more affordable cyber insurance options while ensuring that the quality of their cybersecurity practices is recognized and rewarded.

In a separate move, Spectra has also partnered exclusively with Irvine, Calif.-based distributor Ingram Micro to help solution providers integrate cybersecurity insurance solutions directly into their offerings.

While Spectra’s partnership with Beltex focuses on directly addressing MSPs’ cyber insurance needs, the partnership with Ingram Micro, which does not handle insurance directly, will focus on helping MSPs with certifications and warranties as part of its partner benefit program. Spectra’s role is to help MSPs qualify for better coverage through their verified security practices, while Beltex will manage the actual brokerage and placement of insurance.

"Insurers are very, very nervous right now," Spectra CEO Edouard von Herberstein (pictured) told CRN in an exclusive interview. "They don’t fully understand how to underwrite the risk when the world could shut down for a week. You have major systems going offline, like payment processors or cloud providers, and insurers are caught off guard. Our job is to help them get comfortable with this risk."

[Related: Expert: ‘Cyber Insurance Has Become An Essential Part Of Doing Business’]

Paul Hager, VP of services for Ingram Micro, told CRN that the partnership helps solution providers “answer the call” to protect themselves and their customers.

“The beauty behind Spectra is they are not competing with the channel, they are collaborating with them in a meaningful way through certification and coverage,” he said. “Spectra’s certification works to bring greater assurances to the business as well as greater protection.”

Kelly Carter, chief strategy officer at Ingram Micro partner Fulcrum IT Partners, said the Ingram partnership “is so important for the channel” as it gives a clearer understanding of attacks on the MSP industry.

“It’s putting the MSP at the center of the insurance equation,” she told CRN. “And in addition to getting certified, that's where we can get the warranties set up for our customers, so it's all in one platform.”

Von Herberstein said that while insurers may never fully become experts in all things cyber, they must trust MSPs to help mitigate the risks that come with the digital age.

“The technology and resilience needed to respond to cyber threats are within the MSP ecosystem," he said. "Insurers don't have access to this level of insight, which is why they need a trusted intermediary."

Spectra’s MSP certification process is recognized by multiple insurance carriers whose policies are now available through Beltex. The certification empowers MSPs and their customers to become preferred clients for insurance providers, unlocking faster and easier underwriting and access to better coverage options.

“By combining our unique product and insurance partnerships with Beltex’s deep understanding of the MSP landscape, we can create solutions that truly reflect the needs of MSPs and their clients,” said von Herberstein. “This partnership is about providing real value and support to an industry that has often been treated unfairly.”

Dustin Bolander, founder of Austin, Texas-based Beltex, said Spectra’s vision aligned with theirs: “Helping MSPs protect their clients without the constant struggle of navigating conflicting insurance and security agendas.

“The cyber insurance education gap has been bridged, now it’s time for the policies to catch up. MSPs need solutions that solutions that actually align with their reality, not a sales pitch,” he told CRN. "Insurance should support the ecosystem, not complicate it. When a breach happens, it's not about assigning blame, it's about recognizing the work of the MSP and compensating them fairly."

Going forward, Spectra and Beltex plan to expand the number of MSPs they work with, aiming to certify more than 1,000 MSPs by the end of the year.

"In the world of cybersecurity insurance, there are plenty of solutions. But what MSPs need most is a policy that doesn’t treat them like a roadblock or an afterthought,” Bolander said. “The need for MSP-friendly policies is what inspired us. No one else was doing it right, so we had to step in and make it happen."