Chubb is partnering with a company to offer a cyber loss mitigation service to certain policyholders in the UK and Ireland. AXIS Capital Holdings Ltd. designed to, in part, scout out new technologies useful to both insurance and reinsurance operations.
Chubb will partner with DynaRisk to offer a cyber loss mitigation service to the insurer’s Cyber Enterprise Risk Management policyholders in the UK and Ireland.
This offering is available to both new and existing Cyber Enterprise Risk Management policyholders, and Chubb said that five free DynaRisk licenses are available for each Cyber Enterprise Risk Management policyholder.
The DynaRisk service assesses a person’s devices and digital footprint to provide a personal cyber security score and report, which highlights vulnerabilities an individual may have and trains them on how to fix these issues. DynaRisk checks whether they have had information stolen and traded on the Dark Web. It also educates users how to protect themselves from phishing and other email scams. The platform then generates simple step by step actions for users to take to protect themselves and their company.
Chubb’s Cyber Enterprise Risk Management cover protects businesses before, during and after a cyber incident. Chubb’s loss mitigation service partners provide support and guidance before an incident occurs, and its incident response management solution provides post-loss assistance to get businesses back to normal. Both of these are backed by Chubb’s Cyber Enterprise Risk Management insurance policy.
AXIS Capital Holdings Ltd. launched a new unit designed to lead efforts to partner with entrepreneurial companies focused on data and analytics useful to insurers and reinsurers.
The new venture, dubbed AXIS Digital Ventures, will also scout out new product opportunities including emerging risks, and new distribution and insurance/reinsurance business models. As well, it is also charged with introducing innovative enabling technologies across AXIS’s businesses.
The launch of AXIS Digital Ventures follows the Company’s announcement from earlier this year that it is strengthening its operating model to become more agile and better positioned to leverage change to its advantage, including enhancing its ability to utilize digital technologies and data and analytics.
Source: Chubb, AXIS Capital Holdings Ltd.