Slice Labs, AXA XL and Coronet tie-up under a cybersecurity agreement

By Akshay Kedari  Date: 2019-09-26

Slice Labs, AXA XL and Coronet tie-up under a cybersecurity agreement

Small and medium sized businesses are increasingly showing a substantial growth over the digital market. These businesses are more prone to cyber-attacks, which are a constant looming threat to their business operations. Thus, many small and medium scale digital firms are increasingly adopting cybersecurity solutions to protect their data, further laying foundation for the growth of cybersecurity firms. 

Coronet, a global cloud and AI powered leader in providing security-as-a-service, reportedly announced a cybersecurity collaboration with Slice Labs Inc., a renowned provider of cloud platform for on-demand insurance, to offer medium to small sized business sector with an on-demand, cyber insurance that would be delivered by AXA XL, a subsidiary of the global insurance as well as reinsurance company, AXA.

Slice would provide on-demand cyber insurance which will be underwritten by Indian Harbor Insurance Company, an AXA XL insurance company, to Coronet’s small and medium business customers. Moreover, Slice may also offer Coronet customers a discount over the on-demand cyber insurance as they are already using advanced measures for cyber risk management.

AXA XL and Slice together launched a novel cyber insurance policy, particularly designed for small and medium businesses, through a partnership agreement that was announced in 2018.

Co-founder and CEO of Coronet, Guy Moskowitz stated that Coronet, AXA XL and Slice Labs are natural partners boasting of unique expertise in safeguarding customers from cybersecurity risks involved when using cloud technology. Every company has adopted a progressive approach towards using cloud and AI technology for facilitating protection to small and medium businesses.

Moskowitz added that businesses that adopt Coronet along with AXA XL cyber insurance as well as the on-demand platform of Slice Labs would be able to easily mitigate, detect, and eliminate risks without needing a dedicated internal security team.

Reports cite that approximately 60% of the small businesses hit by cyberattacks went out of the business within the next six months. Additionally, 50% of all the cyberattacks are aimed at smaller businesses.

Both of the Slice cyber insurance, provided by AXA XL and Coronet, offer subscription-based models, which allow small business to be protected quickly in as well as around cloud environment within minutes of them completing a short sign-up process that is done online.

 

Source credit: https://axaxl.com/insurance/news/coronet-slice-and-axa-xl-announce-cybersecurity-partnership

About Author

Akshay Kedari     aeresearch.net

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More

More News By Akshay Kedari

Boeing expects European carriers to have 8,705 new airplanes by 2040

Boeing expects European carriers to have 8,705 new airplanes by 2040

By Akshay Kedari

Aerospace major Boeing is anticipating the European commercial aviation industry to need nearly 8,705 new airplanes by 2040. The requirement will be driven by the growing leisure travel market and focus towards replacing the current fleet with more f...

Facebook to drop staunch defensive stance to revamp its public image

Facebook to drop staunch defensive stance to revamp its public image

By Akshay Kedari

Facebook CEO Mark Zuckerberg has reportedly approved a new initiative named Project Amplify, which will consist of implementing various strategies to shed a positive light on the social media giant’s public image. The idea, which was conceived...

Shell intends to scale its Sustainable Aviation Fuel production by 2025

Shell intends to scale its Sustainable Aviation Fuel production by 2025

By Akshay Kedari

Multinational oil and gas company Royal Dutch Shell plc is reportedly planning to begin scaling the production of low carbon jet fuel by 2025, to promote the practice of greenhouse gas emission reduction among the world’s airlines. The oil gia...

Fintech firm Xendit becomes a unicorn following USD 150 million funding

Fintech firm Xendit becomes a unicorn following USD 150 million funding

By Akshay Kedari

Indonesian financial technology company Xendit has reportedly secured USD 150 million during a Series C funding round which was led by Tiger Global. Other investors that participated in the latest fundraising included Justin Kan’s Goat Capital,...

Samsung Biologics to participate in 2050 carbon-neutral initiative

Samsung Biologics to participate in 2050 carbon-neutral initiative

By Akshay Kedari

South Korean biotechnology firm Samsung Biologics recently revealed the signing of a Memorandum of Understanding (MoU) to join the ‘Frontier 1.5D initiative’ to devise a climate risk management model. The company is set to join the 2050 C...