AXA XL, the property and casualty and specialty risk unit of AXA, is partnering with cloud-based insurtech firm Slice Labs to help improve the cyber resilience of Microsoft 365 Business, Office 365 Business Premium and Office 365 Business customers.
The collaboration, aimed at servicing small to medium sized businesses, will give qualifying customers discounted access to Slice on-demand, a cloud-based cyber insurance product provided by AXA XL.
Microsoft customers will be offered an end-to-end solution designed to help mitigate the risk of successful cyber attacks, while also providing services and support if one was to occur.
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.
“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.
“We’re excited to bring a solution to market that only large enterprises have procured in the past to SMB’s who need it just as badly.”
“Today’s announcement is continued validation that our foresight as the pioneer of on-demand, cloud-based insurance that protects digital ecosystems aligns with today’s B2B, B2B2C, and B2C appetites for more intelligent and flexible insurance protection,” added Tim Attia, CEO and co-founder of Slice.
“Thanks to the cloud, insurance has changed and is now a must-have asset in order for businesses in any market to ensure they profitability achieve their goals.”
“Slice Labs and AXA XL share our vision to improve cyber health so that businesses can confidently achieve their goals without the fears of being paralyzed by cyber criminals,” commented Tara Knapp, Senior Business Development & Strategy Manager of Microsoft Security & Compliance.
“Cyber insurance is a critical component for our customers. Now, Microsoft 365 Business and Office 365 Business customers who are able to demonstrate an elevated security posture can be rewarded with better insurance rates.”