AXA XL Launches Cyber Insurance for Small & Mid-Size Businesses on Slice ICS
Slice Labs Inc., a leading on-demand insurance cloud provider, and AXA XL, a division of AXA, today launched a new cyber insurance policy specifically designed for small and midsize businesses (SMBs). Powered by Slice’s Insurance Cloud Services (ICS) platform, AXA XL’s cyber insurance solution provides U.S. small and medium sized businesses with comprehensive cyber insurance protection along with real-time intelligence to proactively counteract cyber risks.
“Businesses of every size are vulnerable to cyber risk,” said John Coletti, Chief Underwriting Officer of AXA XL’s North America Cyber & Technology insurance business. “In providing this on-demand, AI-powered cyber insurance product, we are expanding our reach in the cyber insurance market and leveling the playing field for SMBs, giving them access to broad cyber insurance protection that the largest of companies rely on, as well as cyber security resources to help them protect their revenue, profitability and customer relationships.”
“This type of cyber insurance product is the first of its kind,” said Tim Attia, CEO of Slice. “In the last month, we’ve been reminded of the massive impact a breach can have on global technology and airline businesses that have the resources to recover. If any of their SMB partners were also impacted in the attack, they wouldn’t survive. This product, which is possible due to the ICS platform, works to provide an extra layer of resources and protection to businesses who are equally as vulnerable to a breach, but much less likely to recover.”
AXA XL’s cyber insurance product is designed for companies under $20 million in annual revenue and offers limits from $250 thousand up to $3 million. Utilizing Slice’s E&S brokerage license, the digital platform provides comprehensive coverage that can easily be purchased in a matter of minutes for qualifying SMBs. This simple onboarding process allows customers to not only easily acquire a policy but also submit first notice of loss through our claims bot.
The policy includes coverage for data protection and privacy risks, both for third-party claims and first-party mitigation costs. These are often associated with a cyber incident, such expenses for notification, credit monitoring, data recovery, reputation management, loss of business and extra expense. The coverage also provides protection for cyber extortion threats and other breach-related liabilities including regulatory penalties, GDPR and Merchant Services Agreements.
In addition, the AXA XL cyber insurance solution is delivered with insightful data to help SMBs understand their cyber risk exposure and learn how to strengthen their cyber defenses. Customers are provided an individualized dashboard with an overall cyber risk assessment and scores along with benchmark scores of their industry peers across each risk category.
“Our partnership with Slice is a great example of the leverage we can get from collaborating with insuretechs,” said Lauren Tennant Pollock, Partner and Digital Distribution Lead for Accelerate, an internal innovation team within AXA XL. “Given Slice’s technology and our underwriting, pricing, and claims expertise, we have built a digital end-to-end cyber offering for SMBs in just three months. We are very excited to see the product evolve as we collect customer feedback and continually enhance our product with their preferences, and changing cyber and technology risks, in mind.”
Slice Labs is a leading on-demand insurance cloud platform provider that empowers insurers to deliver new value to customers through direct insurance or insurance agent models without investing in infrastructure to provide customized on-demand, pay-as-you-go insurance products. The Slice Insurance Cloud Services platform (ICS) is powered by machine learning and advanced big data technologies along with Ph.D. behavioral science expertise. ICS is the foundation for new digital insurance products being released globally by top insurers and is also the base for Slice’s own digital insurance products serving the new economy. To stay up to date with Slice, visit http://www.slice.is and follow @SliceLabs on Twitter.
About AXA XL
AXA XL provides insurance and risk management products and services for mid-sized companies through to large multinationals, and reinsurance solutions to insurance companies globally. We partner with those who move the world forward. To learn more, visit www.axaxl.com
About AXA XL Insurance
AXA XL Insurance offers property, casualty, professional, financial lines and specialty insurance solutions to mid-sized companies through to large multinationals globally. We partner with those who move the world forward. To learn more, visit www.axaxl.com
Slice Labs Inc. PR
Emily Kosick, 212-380-1849
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
Key UK SEP Patent Win for TQ Delta20.3.2019 22:03:00 EET | Tiedote
TQ Delta LLC, a technology development and licensing firm, secured a judgment on March 18 by the High Court of Justice of England and Wales immediately enjoining ZyXEL Communications UK Ltd and its Danish parent company, ZyXEL Communications A/S, from further infringement of TQ Delta's European Patent (UK) 1 453 268. TQ Delta's patent relates to Digital Subscriber Line ("DSL") technology. In an earlier judgment, handed down on March 12, the Court found that the patent was valid and essential to the operation of ADSL2 and VDSL2. In that judgment, the Court held that the ZyXEL defendants have infringed and continue to infringe the patent. The Court also found that a second patent would have also been essential and infringed but was invalid. In its judgment earlier this week, the Court also found that the ZyXEL defendants were "holding out" against taking a licence to TQ Delta's portfolio of patents relating to DSL. It granted an immediate injunction and costs against the ZyXEL defendants
Lehman Brothers Treasury Announces the Successful Auction of a Portion of its Intercompany Claim against Lehman Brothers Holdings Inc.20.3.2019 21:15:00 EET | Tiedote
In connection with its previously announced partial wind-down, Lehman Brothers Treasury Co. B.V. in liquidation (“LBT”), through its U.S. counsel Kramer Levin Naftalis & Frankel LLP, announced that its placement agent, Seaport Loan Products LLC, successfully concluded an auction of a US$10,475,844,413 portion of LBT’s US$34,548,000,000 intercompany claim (the “Intercompany Claim”) against Lehman Brothers Holdings Inc. for a total gross purchase price of US$179,472,166. The sale is expected to close during the first week of April 2019. The net proceeds of the sale (after deducting various sale-related costs and expenses), together with certain available cash, will be used to fund a final distribution to creditors of LBT who do not receive substitute notes as a result of LBT’s prior solicitation process. For more information on the partial wind-down, including information about the Intercompany Claim sale, the final cash distribution, and anticipated timelines, an Information Notice has
Susan Ochs Joins PSB as Global Head, Financial Services20.3.2019 20:34:00 EET | Tiedote
PSB, a global research-based consultancy, announced today that Susan Ochs has joined the firm as Senior Vice President and Global Head, Financial Services, effective immediately. Ochs is based in New York and is responsible for the global development of the financial services practice and will contribute to other industry practices as well. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190320005671/en/ Susan Ochs, SVP, Global Head, Financial Services, PSB (Photo: Business Wire) “We are proud of the amazing brands we currently partner with across the financial sector,” said Mike Chuter, CEO, PSB, to whom Ochs reports. “With Susan’s combination of private and public finance expertise we’ll be able to deliver even more meaningful insights to our current and future partners. We are delighted to welcome Susan and are excited about the deep experience she brings.” Ochs has more than two decades of experience across the financial
Corsair Infrastructure Partners Announces Long Term Investments by HarbourVest Partners20.3.2019 17:35:00 EET | Tiedote
Corsair Infrastructure Partners (“CIP”), the global infrastructure investment business of Corsair Capital (“Corsair”), today announced that HarbourVest Partners (“HarbourVest”), a leading institutional investor active across multiple asset classes and geographies, has invested in three new CIP-managed funds established to deploy capital in the aviation, port, and road sectors. Earlier this year, CIP’s new funds closed on the acquisitions of shareholdings in three platform companies – the airport developer Vantage Airport Group, the Australian stevedore DP World Australia, and the Spanish toll-road operator Itínere Infraestructuras – from various selling shareholders including Gateway Infrastructure Investments, a legacy CIP-managed vehicle. The investments from HarbourVest come from a long-term pool of institutional capital dedicated to supporting infrastructure equity sponsors like CIP, and will play an important role in the execution of CIP’s growth strategies for all three platforms
Fishawack continues to build best-in-class service offering with Dudnyk acquisition20.3.2019 16:00:00 EET | Tiedote
Fishawack, a leading independent healthcare communications specialist, is excited to announce its acquisition of Dudnyk, the Philadelphia-based healthcare communications agency. Dudnyk is an award-winning, full-service agency that specializes in creating insight-driven, authentic brand experiences that unite specialty physicians and their patients. They leverage strategic, scientific, and creative capabilities to serve clients in the biotech, pharmaceutical, and medical device industries. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190320005204/en/ Dudnyk leadership team includes Christopher Tobias, PhD, President; Laurie Bartolomeo, EVP, Creative Director; Drew Desjardins, EVP, Chief Strategy Officer; Annemarie Armstrong, EVP, Director of Client Services; John Kemble, EVP, Creative Producer. (Photo: Business Wire) Fishawack’s goal is to increase the range of healthcare communications services that it can offer to commerc
ExaGrid Nominated in Six Categories for the 2019 Network Computing Awards20.3.2019 15:00:00 EET | Tiedote
ExaGrid ®, a leading provider of intelligent hyperconverged storage for backup, today announced that it has been nominated in six categories for the 2019 Network Computing Awards. ExaGrid has become a finalist for Data Centre Product of the Year, The Return on Investment Award, Hardware Product of the Year, Product of the Year, The Customer Service Award, and Company of the Year. Voting to determine the winner in each category is underway now and closes on April 23. The results will be revealed at an evening award ceremony in London on May 2. ExaGrid’s model EX63000E backup storage appliance with data deduplication is a nominee in four categories. The model provides the largest scale-out system and offers up to a 2PB full backup with an ingest rate of 432TB/hr, which is three times faster than any other backup storage on the market. “We are thrilled to be nominated by IT staff, and recognized by Network Computing, in six prestigious categories this year,” said Bill Andrews, CEO and Pre
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme