AXIS Expands Partnership to Improve Cyber Offering | Insurance business America
The insurer emphasizes the importance of a partnership to improve customers’ risk profile
AXIS Capital Holdings Limited has announced the expansion of its partnership with Elpha Secure. The collaboration, which began in 2021 when AXIS became both an investor and capacity provider for Elpha Secure, is set to be deepened.
“By expanding our partnership with Elpha Secure, we are ensuring U.S. cyber customers receive high-quality coverage with embedded cyber security solutions that improve their risk profile and reduce their exposure to cyber risks,” said Lori Bailey, Head of Global Cyber and Technology at AXIS. “Providing cyber coverage through Elpha’s established, secure digital distribution platform will benefit both customers and AXIS.”
Beginning July 1, 2024, new standalone cyber business applications for potential policyholders with revenue of up to $100 million will be routed to Elpha Secure through wholesale broker partners.
“We are privileged to expand our partnership with AXIS, a collaboration that underscores our shared commitment to innovation and excellence in cyber insurance,” said Gordon Malin, co-founder and CEO of Elpha Secure. “This transition is a testament to the strength of our relationship with AXIS and we look forward to providing our mutual customers with best-in-class protection and security.”
By transitioning its business to Elpha’s platform, AXIS aims to increase the efficiency and profitability of its small cyber portfolio. The move also gives customers access to Elpha’s range of cyber security services, which can improve their security risk profile.
AXIS also recently launched its AXIS Cyber Incident Commander, designed to provide U.S.-based direct cyber primary policyholders with immediate cyber incident support. The service provides rapid triage, legal advice, digital forensics, incident response and crisis management available 24/7 to minimize the impact of cyber incidents and accelerate recovery.
AXIS Capital Holdings Limited is headquartered in Bermuda and provides a variety of specialty insurance and reinsurance products and services covering property, marine, terrorism, aviation, political, professional, liability, casualty and health.
Any thoughts on this story? Leave a comment below.
similar posts
Stay up to date with the latest news and events
Join our mailing list, it’s free!
Source link
2024-06-28 14:53:44
www.insurancebusinessmag.com
