AXA XL’s primary cyber and technology insurance clients can now get complimentary proactive services meant to help promote resiliency before cyber attacks. Munich Re America has begun marketing a personal lines flood endorsement in the U.S. to insurance carriers and their agency partners who use BriteCore, a web-based insurance administration platform. Marsh signed a multiyear agreement with Concirrus, a London-based InsurTech company specializing in marine analytics.
AXA division AXA XL added complimentary proactive services for its primary cyber and technology insurance clients.
AXA XL clients, during their first cyber insurance policy year, can now choose one of several proactive services from vendors including Cylance Consulting, Kivu, NetDiligence Breach Plan Connect, Sylint, S-RM and Troutman Sanders LLP.
Pre-breach services include consultations and assessments, along with other services that address social engineering and phishing awareness, incident readiness (to evaluate an organization’s ability to respond to cyber attacks), incident planning and coaching, payment card industry compliance training, and more.
Clients can choose one complimentary service with the purchase of AXA XL’s cyber policy – CyberRiskConnect – which provides broad coverage for data protection and privacy risks, both for third-party claims and first-party mitigation costs following a technology or cyber event.
A Munich Re America personal lines flood endorsement is now available in the U.S. to insurance carriers and their agency partners who use BriteCore, a web-based insurance administration platform.
The endorsement is available to homeowners who live outside of special flood hazard areas (SFHA), and it protects their homes and personal property. The BriteCore policy administration system will indicate if a policyholder’s home is located in a SFHA based on its address. If a home is not in a SFHA, agents will automatically be offered the opportunity to select Munich Re America’s personal lines flood endorsement as they build an insurance program for their personal lines clients.
Munich Re America’s personal lines inland flood endorsement is already available through participating insurance carriers throughout the U.S. Munich Re America also offers a commercial inland flood endorsement that is available in the U.S. with the exception of Florida, Louisiana, Hawaii, Alaska and Puerto Rico.
Marsh has signed a multiyear agreement with Concirrus, a London-based InsurTech company specializing in marine analytics.
The two companies will work jointly to drive the use of behavioral data in the global marine market through Concirrus’s Quest Marine platform.
Leveraging its global distribution, marine expertise and analytics capabilities, Marsh will adopt Quest Marine to drive new insights and placement strategies for clients and also identify new opportunities for digital product development in the marine insurance industry.
By integrating with an insurer, reinsurer or broker’s data, the Quest Marine platform uses artificial intelligence (AI) to analyze historical claims information to reveal behavioral risk factors that identify previously hidden sources of risk and opportunity.
Source: AXA XL, Munich Re America and Marsh/Concirrus