Smart insurance for smart learning for EdTech businesses
Best insurance plans for EdTech companies, crafted for Indian innovators. From cyber security to content protection, we've got your EdTech ecosystem covered.
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Insurance Policy to Cover Your Edtech Startup
Comprehensive Insurance for Edtech businesses in India
Tailored employee compensation coverage for Edtech businesses in India. Protect your most valuable asset and your team with insurance policies suitable for Edtech startups.
What are the Risks Faced by The Edtech Companies
Byju’s Faced a Huge Lawsuit by BCCI
BCCI filed an insolvency plea against Byju's, claiming unpaid dues of INR 158 crore ($19.1 million) related to sponsorship rights
Data Breach is an Ongoing Concern
There have been data breaches of over 11 million customers reported at edtech platforms like Unacademy and Vedantu, leading to user information being sold on the dark web
Insured Professionals: Who's Covered?
Employees and their dependents
Directors and key senior management
Investors and other shareholders
Customers and their data
Inclusions
Errors & Omissions Insurance
Covers financial losses due to negligence, errors, or omissions in your educational content or services.
Employment Practices Liability Insurance
Covers legal costs and damages related to claims of discrimination, harassment, or wrongful termination by employees.
Public Liability
Provides coverage for legal liabilities arising from injuries to third parties or damage to their property on the premises.
Employee Health Benefits
Offers medical coverage for employees, including hospitalization and outpatient care.
Legal Defense Costs
Covers legal expenses incurred in defending against covered claims.
Exclusions
Intentional Damage
Does not cover damages caused intentionally by the insured.
Prior Knowledge
Does not cover claims arising from circumstances that were known or should have been known prior to the policy inception date.
Insured vs Insured Claims
Typically excludes claims between insured parties.
Employee Theft
Generally excludes losses due to theft by employees unless specifically covered.
War and Terrorism
Excludes damages resulting from acts of war or terrorism.
How are Edtech Companies Covered with Insurance
A promising EdTech startup in Bangalore experienced a major data breach. Hackers gained unauthorized access to their student database, compromising personal information and payment details. Parents were outraged, and the company faced a public relations nightmare, losing trust and potential customers. With Cyber Risk insurance, the Edtech industry can easily mitigate the financial impact of this disaster.
Secure your Small Business Today!
Covrzy’s insurance for Edtech companies in India is here to safeguard your business in minutes. Connect with a Covrzy expert to craft your perfect insurance plan.
Frequently Asked Questions
How can Errors & Omissions Insurance benefit EdTech companies?
This is the best insurance plan for Edtech companies that covers legal costs if a client claims your EdTech service failed to meet expectations, safeguarding against potential lawsuits.
How does Covrzy's insurance help EdTech companies manage risks?
Why is Cyber Risk Insurance crucial for EdTech startups?
Do you have more questions?
Contact us for any queries related to business insurance, coverages, plans and policies. Our insurance experts will assist you.
You Educate, While We Protect You
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