"Kiber Lev" addresses the most important business need - business continuity

Mr. Milev, would you briefly introduce yourself - what is your professional path and what are your main priorities as the CEO of LEV INS?

My professional path is related to managing teams and processes in various business areas. In recent years, my work has been closely focused on the insurance sector and financial services, particularly on the strategic development of products and the management of complex risks. As the CEO of LEV INS, my main priorities are sustainable growth, digitizing processes, and strengthening the company's position as a trusted partner to our clients in a rapidly changing environment.

How is the insurance business changing in Europe and Bulgaria in recent years and which trends do you think are the most defining?

We are observing accelerated digitalization, increasing regulatory requirements, and a sharp expansion of new risk categories - primarily cyber risks.
Clients expect not just compensation, but comprehensive risk management - prevention, expert support, and quick response. This fundamentally changes the role of the insurer.

More and more large companies in Bulgaria are beginning to pay attention to their cybersecurity and use insurance as a tool for managing financial risk. With the increase in cyberattacks, the financial consequences for businesses are becoming more serious: interruption of operations, loss of sensitive data, regulatory fines, reputational damage. Cyber insurance does not prevent attacks, but serves as a buffer against the financial damages they cause.

Cyber risks are now among the most serious threats to business - when did LEV INS recognize this problem as strategically important?

Even before cyber incidents became widely visible, we identified digital threats as a systemic risk. As a company, our efforts have always been directed towards offering and developing innovative products and services. We have always strived to stay ahead of events. The development of the company in European markets and our desire to be innovative there directed us to this segment.

What distinguishes LEV INS as a pioneer and leader in cyber insurance on the Bulgarian market?

Cyber insurance is a unique tool for managing the risk of cyber incidents, which is extremely accessible to organizations. Our advantage is that we do not just offer a policy, but together with our partners, we have built a comprehensive ecosystem of services. We approach strategically, offering a 360-degree approach - training, technological support, and insurance product.

How did the idea for the product "Kiber Lev" come about and what real business needs does it address?

"Kiber Lev" addresses the most important business need - business continuity.

Business can focus on its development and expansion when it has recognized the risks and taken measures to mitigate them by outsourcing them to a trusted partner.

Kiber Lev is a solution that protects businesses from the question “What now?” in the event of a cyber incident. Because in such incidents - the business stops functioning.

For which companies is the "Kiber Lev" insurance most suitable?

Cyber insurance is particularly suitable for small and medium enterprises,

It is designed to be accessible and to break the prevailing myth that cybersecurity is only for large companies. The thinking - “I am small, who will attack me?”, is extremely wrong. About 50% of attacks are aimed at this segment, precisely due to their weaker protection, which hackers are fully aware of, making it easier for them to attack.

What are the most common cyber incidents among small and medium companies in Bulgaria?

We most often encounter phishing attacks, crypto viruses, compromised emails, data leaks, and human errors leading to breaches. Many of these incidents are preventable with timely prevention. People are often the weakest link in cybersecurity. Opening an email from an unknown sender, clicking on a suspicious link, rushing to accept an incredibly good offer, etc., are typical examples of how organizations become victims of phishing scams and social engineering.

How does "Kiber Lev" support businesses not only financially but also technologically in the event of a cyber attack?

In addition to financial coverage, the client receives immediate access to cybersecurity experts, which is often crucial for limiting damages. Cyber insurance helps businesses outsource risk and focus on their development.

What really happens in the first minutes after a cyber incident?

The question has two answers, from the business perspective - after the initial shock, panic usually ensues. From the perspective of the technical teams, immediate work begins to limit damages, check backups, and isolate compromised devices. In such moments, it is important to have a partner who can help you, guide you, and support you with knowledge and expertise.

How does insurance help in managing the risk associated with European cybersecurity directives?

Interest in cyber products is growing every day, considering the changes in the Cybersecurity Act. The changes aim to transpose the NIS-2 directive, which concerns cybersecurity and affects a very large number of sectors in economic life. Cybersecurity is no longer just a problem for technical units; it is a problem for the entire business. In the event of a cyber incident, not only the IT department stops working, but the business does.

What costs and consequences does "Kiber Lev" cover?

The insurance covers complex costs - from business interruption, legal expenses, and fines, to managing reputational damage and communication with clients and partners.

How important is liability to third parties and why is it often underestimated?

It is extremely important, as a breach can affect thousands of clients or partners, leading to claims and serious financial consequences. Supply chain security is already a key topic for businesses.

How is the price determined and why is a personalized approach key?

At KiberLev, the price is formed per computer, precisely to be accessible and easy to use for clients. For solutions for large corporate clients, the price is a combination of several factors and, of course, the desired coverage from the client. The insurance for large corporate clients takes into account the specifics of the business, the digital maturity of the company, and the size of digital assets.

What is the role of prevention and IT consultations?

They are an integral part of more complex solutions. We actively work with the IT teams of clients because the best damage is the damage that is prevented.

How do you see the future of cyber insurance and the role of LEV INS?

Cyber insurance will become a standard for every business. LEV INS will continue to invest in innovations, partnerships, and intelligent solutions that anticipate risk rather than just cover it.