I saw a very interesting announcement recently about a new alliance between Allianz, Cisco, Apple, and Aon. They’ve partnered to create a very interesting cyber offering. Here’s how it works.

Essentially Allianz has said we’ll give you enhanced coverages when we believe you have mitigated your loss exposure. And we’ll help you mitigate it – first by having our partners from Aon come and do a detailed assessment, then having our partners at Apple and Cisco implement secure technologies. We’ll work with you to help you implement any other recommendations that came from the Aon assessment. And if you’re doing all of that, we can also give you better coverage, and a price break. They have three levels of coverage – basic, enhanced, and bespoke. They’ll offer those different levels based on your needs, and also based on the risk assessment and implementation of technologies.

I find this to be a super interesting alliance as it illustrates some paradigm shifts that we’re seeing in the insurance industry. As you look toward the future of insurance, I see four new paradigms that are shaping the path forward.