AXA XL: Cyber Protection Comes in All Sizes
Winner of Celent Model Insurer 2020 Award for Digital and Emerging Technology
Cyber protection is an area where SMBs are behind in comparison with larger enterprises. Most small-business owners do not feel they are at risk for a data breach or cyber security incident, despite the fact that many cyber-attacks are perpetrated against small businesses. Such attacks are costly for a small business, and at least two-thirds of them are without coverage.
With this in mind, AXA XL designed and launched an on-demand cyber insurance product targeting SMBs. This digital product has a simple procurement process and offers value added services such as providing a customer with a dynamic Cyber Health Check so that customers can better understand their underlying exposure and learn new ways to improve their cyber security posture. As part of their underwriting model they connect to third party data & analytics partners to gather insight in real time to assess their customers’ cyber risk.