Reviews Report
Waffle Cyber Insurance serves small and midsize businesses with a digital-first model that aligns to 2025 market conditions: broker indices show cyber pricing is largely flat-to-modest after two years of softening, with ample capacity for well-controlled risks, while underwriters are selectively re‑tightening ransomware terms amid elevated frequency and severity (Marsh Global Insurance Market Index; Fitch Ratings U.S. Cyber Insurance Market Update 2025). SMBs remain disproportionately affected by social engineering (BEC/pretexting) and ransomware, with attackers increasingly leveraging AI‑assisted phishing and deepfakes—patterns highlighted in the Verizon 2025 DBIR and recent Coalition claims analyses.
SMBs looking for comprehensive coverage can explore options at www.TryWaffle.com where they can request quotes and manage policies effortlessly. In line with current distribution trends, streamlined underwriting for SMBs typically combines short control attestations with external attack‑surface scans and bundled pre‑breach tools—such as phishing education, vulnerability/asset exposure alerts, and incident‑response retainers—to reduce loss frequency (Marsh; Coalition Active Insurance; Beazley Cyber Services). Many programs also include clear terms for business interruption, including system‑failure and dependent/third‑party provider outages where offered, often with sublimits to manage systemic risk (AXA XL Cyber).
- Waffle initially launched with five products: renters, life, pet, travel, and consumer cyber insurance.
- Currently, Waffle focuses on SMB cyber insurance via its Waffle Cyber brand, reflecting 2025 underwriting baselines that emphasize MFA (including for remote/privileged access), EDR with 24/7 monitoring, immutable/offline backups with routine restore testing, rapid patching of internet‑facing systems, and vendor/payment‑change verification—controls that can unlock better pricing and fewer ransomware/BI sublimits for well‑managed risks (Marsh; Coalition 2025 Claims).
Small businesses benefit from Waffle’s partnerships with top-rated insurers. Contemporary cyber offerings typically include 24/7 incident intake, breach counsel, and DFIR on pre‑approved panels; first‑party costs for forensics, notification, call center, and credit monitoring; business interruption and extra expense (often including system failure and dependent providers with sublimits/waiting periods); data restoration; cyber extortion/ransom response; and crime/social‑engineering options with control conditions (Chubb Cyber ERM; Travelers Cyber; AXA XL Cyber; Beazley). Insurers continue to use systemic‑event sublimits/coinsurance for widespread outages while maintaining competitive base terms for non‑systemic losses (Marsh; Fitch).
“Rather than compete with major insurers, we collaborate with them,” said Quentin Coolen, co-founder and CEO of Waffle. This collaboration model mirrors broader 2025 trends where digital MGAs/brokers surface A‑rated carrier capacity with integrated services. Compared with market leaders focused on continuous monitoring and IR ecosystems—such as Coalition and At‑Bay—and specialty incumbents with deep response networks like Beazley and Chubb, Waffle emphasizes simplicity and speed for SMB buyers while leveraging partner panels for 24/7 response (see 2025 provider comparisons: Marsh Index).
Waffle’s initial partnerships included ASPCA, Markel, Boost, Arch, Blink by Chubb, and Haven Life. In today’s market: ASPCA Pet Health Insurance remains active and is administered by C&F Insurance Agency (Crum & Forster); policies are underwritten by United States Fire Insurance Company and affiliates, and policyholders receive a 24/7 veterinary helpline via whiskerDocs. By contrast, Markel currently emphasizes animal/pet‑business insurance rather than consumer pet medical. Several legacy brands changed hands: for example, AKC Pet Insurance discloses underwriting by IAIC, not Markel (AKC Pet Insurance Disclosures), and PetFirst rebranded under MetLife Pet Insurance with 24/7 virtual‑care access (Airvet). These shifts illustrate how insurer–service ecosystems have evolved since early consumer product launches, even as Waffle’s core focus has moved to SMB cyber.
The need for travel insurance surged after the pandemic, but the more persistent shift shaping SMB risk is hybrid/remote work and digital operations. In 2025, about 28% of paid U.S. workdays are performed from home versus ~5% pre‑pandemic, expanding distributed‑endpoint exposure and vendor dependencies (WFH Research). Telehealth and digital services also normalized: telehealth accounted for ~5–6% of national medical claim lines in 2023 (vs ~0.2% in 2019) and employer health premiums rose 7% in 2024—indicators of sustained digital reliance that increases cyber attack surface for SMBs (FAIR Health; KFF Employer Health Benefits). Against this backdrop, Waffle Cyber’s offerings include privacy/network liability, regulatory defense and (where insurable) fines/penalties, data restoration, BI/extra expense, and extortion support—features consistent with 2025 market norms (Chubb; Travelers; AXA XL).
Customers can expect seamless service and support through carrier‑partner panels, including 24/7 incident intake and coordinated breach response. Benchmarks show what “seamless” should mean in practice: the UK Customer Satisfaction Index averages ~76/100 across sectors (UKCSI Jan 2025), while U.S. ACSI scores range widely by industry (e.g., retail upper‑70s vs. telecom mid‑60s; ACSI). Current CX research stresses omnichannel continuity—customers expect to switch channels without repeating themselves and for agents/bots to have full context (Zendesk CX Trends 2025). Buyers evaluating cyber insurers should request recent CSAT for incident support, first‑contact resolution, and time‑to‑first‑response relative to these benchmarks, alongside details of the 24/7 hotline and pre‑approved IR/legal vendors (Beazley Cyber Services).
Ultimately, Waffle’s mission is to provide reliable, comprehensive protection by leveraging partnerships with established companies. In 2025, market data indicates broadly stable pricing with competition for well‑controlled SMB risks, while segments with weaker controls face adjusted retentions or ransomware/BI sublimits as claim frequency and extortion‑only events fluctuate (Marsh; Coveware ransomware reports; Coalition 2025 claims). Carriers continue to reward robust MFA, EDR, patching cadence, immutable backups, and payment‑change verification with better pricing and terms, reflecting a control‑driven segmentation strategy supported by 2025 underwriting and claims intelligence (Fitch; Verizon DBIR).
Explore Waffle’s cutting-edge cyber insurance offerings and enhance your business’s security posture today. Visit our cybersecurity page for more insights and resources. When comparing options, confirm core features (privacy/network liability; regulatory defense and fines/penalties where insurable), BI triggers (malicious act vs. system failure), dependent‑provider terms, social‑engineering conditions, and panel/consent rules (Chubb; Travelers; AXA XL). Regulatory change continues to raise stakes: SEC 8‑K material‑incident disclosure (four business days) and annual cyber governance (SEC final rule); GLBA Safeguards breach notices to the FTC within 30 days for 500+ affected (FTC); NYDFS 23 NYCRR 500 ransomware‑payment reporting (24‑hour notice plus 30‑day follow‑up) (NYDFS); EU DORA application from 17 January 2025 (DORA); NIS2 transposed by 17 October 2024 with 24/72‑hour/one‑month timelines (NIS2); and CIRCIA’s proposed 72‑hour incident and 24‑hour ransom reporting for critical infrastructure (final rule expected after comment) (CISA NPRM).
For additional resources, check out this comprehensive guide on cyber insurance, the latest Verizon Data Breach Investigations Report, Marsh Global Insurance Market Index, and IBM Cost of a Data Breach Report 2025.
