The AI and cloud technology alliance expands SMBs resources for securing on-demand cyber insurance protection
New York Tue Sep 24, 2019 — Coronet, a world leader in security as-a-service powered by AI and cloud, today announced a partnership with Slice Labs Inc.(“Slice”). the first on-demand insurance cloud platform provider supporting digital ecosystems, to provide the small to medium sized business (SMB) market with on-demand, cyber insurance provided by AXA XL, a division of AXA.
Slice will offer on-demand cyber insurance underwritten by an AXA XL insurance company, Indian Harbor Insurance Company, to Coronet’s SMB customers. Additionally, Slice may provide Coronet customers with a discount on the on-demand cyber insurance since Coronet users are already employing advanced measures to manage cyber risk.
Slice and AXA XL launched a new cyber insurance policy specifically designed for SMBs, through a partnership announced last year.
“Slice Labs, AXA XL and Coronet are natural partners with unique expertise safeguarding customers from the risks involved with using cloud technology,” said Guy Moskowitz, co-founder and CEO of Coronet. “Each company has taken a progressive approach to using AI and cloud technology to protect SMBs. Businesses that leverage Coronet with AXA XL cyber insurance and Slice’s on-demand platform will be able to better detect, mitigate, and eliminate risk without the need for SMBs to have an internal security team.”
“This partnership clearly demonstrates a collective commitment to provide truly holistic protection for SMBs,” said John Coletti, chief underwriting officer of AXA XL’s North America Cyber & Technology insurance business. “Slice Labs and Coronet bring industry-leading cloud and AI technologies that should immediately boost the confidence of SMBs that have been challenged with building a solid front against cybercrime.”
Data from the National Cyber Security Alliance states that 60 percent of impacted businesses went out of business within six months. Furthermore, half of all cyber attacks target small businesses. Both Slice cyber insurance, offered by AXA XL, and Coronet provide subscription-based models that enables SMBs to be quickly protected in and around cloud technology environments within minutes of a short online sign-up process.
Slice Labs, Head of SMB Partnerships, Jocelyn Getson added, “Data has shown that the majority of SMBs are not aware of their cyber risk, and would prefer to buy their insurance online. Our three companies are committed to addressing this by bringing awareness and education to the SMB market and delivering flexible solutions that best protect businesses.”
Slice’s cyber insurance is currently available in all states, except NY, PA, OR, KY, ND, AK, VT, and WY.
Coronet is a world leader in providing organizations of every size with security for their cloud applications, bring-your-own-devices, and communications over public networks. With over 2.5 million users, Coronet's platform uses AI to detect and mitigate threats, eliminating the need for a security team to chase down security events. Provided as a subscription service, with nothing to install on premises, Coronet brings enterprise grade cyber security to organizations of any size, at an affordable price, eliminating the complexity and laborious nature of traditional security platforms. To learn more about Coronet, visit us at www.coro.net or follow @coronetworks on social media.
About Slice Labs
Slice Labs is the insurance engine behind tomorrow’s cloud-based, on-demand digital services ecosystems for the new economy. Through Slice’s Insurance Cloud Services (ICS) platform, Slice is enabling insurers, technology companies, and other service providers to build truly intelligent and intuitive, pay-as-you-go digital insurance products protecting the insured anytime and anywhere. Slice is licensed in the US and the UK. To stay up to date with Slice, visit http://www.slice.is and follow @SliceLabs on Twitter.
About AXA XL
AXA XL Insurance offers property, casualty, professional, financial lines and specialty insurance solutions to mid-sized companies through to large multinationals globally. We partner with those who move the world forward. To learn more, visit www.axaxl.com.