AXA XL, the p&c and Specialty Risk Division of global insurer AXA, Slice Labs Inc. (Slice), an on-demand insurer of cloud technology, and Microsoft will work together to help improve cyber health and mitigate risks for Microsoft 365 Business, Office 365 Business Premium and Office 365 Business customers. The new relationship will give qualifying customers discounted access to Slice on-demand, cloud-based cyber insurance provided by AXA XL.
Microsoft customers will have access to an end-to-end product that will help them secure their environment and give them the critical services and support for incident response and remediation in the event of a successful cyber-attack. These services are all part of AXA XL’s cyber insurance policy, which will be offered at discounted pricing to qualified customers who represent a lower insurance risk based on a security posture assessment that will be provided by Microsoft Secure Score.
Recent Forrester survey results found that cybersecurity attacks are a business reality for small and mid-size businesses (SMBs), with nearly half having had a breach within the last year. What was more concerning was that 27% of SMBs were unaware if they’ve had a breach. One primary issue is that 58% of the SMBs struggle to maintain basic cybersecurity hygiene.
“This new level of integration with Microsoft and Slice Labs reinforces the fact that insurance is no longer an after the fact product that companies should use as a band-aid when an incident occurs,” said John Coletti, Chief Underwriting Officer, AXA XL’s cyber insurance team in North America.
Small business Microsoft customers can access AXA XL Cyber Insurance offered by Slice here.
Slice Labs is the insurance engine behind tomorrow’s cloud-based, on-demand digital services ecosystems for the new economy. Through Slice’s Insurance Cloud Services (ICS) platform, Slice is enabling insurers, technology companies, and other service providers to build pay-as-you-go digital insurance products protecting the insured anytime and anywhere. Slice is licensed in the US and the UK.
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