Instagram account insurance service is now being offered by Notch, an Israel-based startup that focuses on digital asset insurance.
Notch explained that it relies on integrating underwriting guidelines. These include multifactor authentication and other security features that can lessen the risks of online breaches.
This is a unique business given that most insurance providers focus on people's actual lives or their belongings, such as laptops, smartphones, cars, and other things you can touch.
Instagram Account Insurance?
According to 9To5Mac's latest report, Notch's Instagram insurance service is expected to benefit content creators since they are the ones most at risk of hacking.
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As of writing, Notch already generated more than $7 million after it completed its extended seed round, which was led by Lightspeed Ventures.
On the other hand, Nas Daily and Casey Neistat decided to invest in Notch, allowing the company to enhance its image as a digital asset insurance provider.
"We'll probably issue an add-on to the policy in the near future, which covers suspensions as well. We don't currently cover those things, mainly because it's very, very difficult to really build a product that provides value," said Notch's CEO Rafael Broshi.
However, Notch clarified that they only cover account access losses that were caused by hacking. This means that if you only forgot your password, then it will not be covered by the company's insurance service.
Notch's Instagram Insurance Service
TechCrunch reported that the insurance service offered by Notch to Instagram users costs around $38 per month ($459 every year).
If hackers ever breach your IG account, Notch said the insurance service would provide you $244 daily. This will last until the Israeli startup recovers your account.
The digital asset insurance provider explained that the reimbursement you can receive could reach up to $22,000 a year if your account is hacked.
If you want to see further details about Notch's Instagram insurance service, you can visit this link.
Recently, experts claimed that Meta is testing the new Instagram disappearing messages feature.
On the other hand, Instagram abortion posts, as well as similar Facebook content, are being taken down by Meta.
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Written by: Griffin Davis
