TIEVA claims it has become the first MSP worldwide to offer cyber services backed by a warranty.
The TIEVA brand was born last year after Canadian investor Fulcrum IT acquired Pure Technology and Prodec Networks and fused them together (before snapping up Viadex in March 2023). It ranked 26th in IT Channel Oxygen’s recent Oxygen 250.
Despite operating a bigger business in North America, $1bn-revenue giant Fulcrum is debuting its new warranty-backed solutions in the UK with TIEVA.
Under the scheme, which was developed with cyber resilience warranty provider SPECTRA, customers are eligible to receive payments reaching up to £1m, TIEVA CEO Mark Lee told IT Channel Oxygen.
“We’re excited to be the first MSP worldwide to offer cyber services backed by a warranty, and we’ve already launched and deployed our services for customers,” he said.
As part of the new business model, Fulcrum (beginning with TIEVA) will offer customers a 100% cash refund on services impacted by specific cybersecurity incidents, including ransomware and DDoS attacks. Additionally, customers with this warranty will be eligible to receive payments reaching up to £1m, it added.
The warranty will initially be available on three services, namely disaster-recovery-as-a-service, backup-as-a-service and firewall-as-a-service, with more to follow.
This will provide “a viable alternative for customers who face challenges in obtaining cyber insurance at a reasonable cost or, not at all”, Lee said.
“Businesses could also opt to invoke a warranty as an alternative to a primary cyber insurance policy, to safeguard their premiums,” he added.
“Cyber warranties are fast becoming a best practice across Fulcrum’s entire portfolio, and an area where we are clearly differentiating our services,” Gareth Davies, President of Fulcrum Labs and Managed Services at Fulcrum, added in a statement.
“We are bringing to market innovative and secure, cyber warranty-backed solutions our team and our customers can bank on now and in the future.”
