AXIS Capital Holdings Limited has expanded its partnership with Elpha Secure, which initially commenced in 2021, when AXIS became both an investor in and a capacity provider for the company.
Lori Bailey, Head of Global Cyber & Technology at AXIS, commented, “In extending our partnership with Elpha Secure, we are ensuring cyber customers in the US get high-quality coverage, with embedded cyber security solutions that will improve their risk profiles and mitigate their exposure to cyber risk.
“Delivering cyber coverage through Elpha’s established, secure digital distribution platform will benefit both customers and AXIS.”
AXIS revealed that from July 1, 2024, new standalone cyber business submissions for prospective policyholders with revenue up to $100 million will be directed via wholesale broker partners to Elpha.
AXIS explained that in transitioning business to Elpha’s platform, it aims to enhance the efficiency and profitability of its small cyber portfolio while opening up access to Elpha’s range of cyber security services to customers – which, in turn, can help to improve their security risk profiles.
Gordon Malin, Co-Founder and CEO at Elpha Secure, said, “We’re privileged to expand our partnership with AXIS, a collaboration that underscores our shared commitment to innovation and excellence in cyber insurance.
“This transition is a testament to the strength of our relationship with AXIS, and we are excited to deliver superior protection and peace of mind to our collective customers.”
