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Performance Guarantee and Contractual Liability for New Economy Businesses

Technology continues to advance at a rapid pace and the speed of progress influences all aspects of life – for consumers and businesses alike. Offering new opportunities at every turn, technology has become the driver of the new economy. These online-based, cutting edge business models have a lot in common: low capital requirements, freedom to experiment, high-profile successes and the opportunity to quickly achieve scale.

Our underwriting capabilities, knowledge and tailored insurance approach are a perfect match for the requirements of new economies. Our experts craft bespoke solutions in close collaboration with clients to create coverages that perfectly matches the client’s business logic.

Risk Consulting

Risk consultants providing comprehensive risk management solutions based on an understanding of client business priorities and goals.

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Coverage

  • An important element of our coverage is a seamless integration of the insurance product in the core service of the client’s business offering.
  • If the promised performance fails, the policy will be triggered, and the respective pre-defined indemnification will be reimbursed. This enabler for “money-back” or “compensation for non-performance” increases the level of security and trust for your users.
  • The exact coverage is tailor-made and will be agreed with the client.

Benefits and Services

To convince clients to use their services and platforms, the fundamental challenges for any new economy business include building trust, offering information security and making sure that services are delivered reliably. This is where our customized insurance solution comes into play. It's the key enabler for building trust and minimizing the financial exposure for the platform and its users.

Let’s talk and develop a solution that meets the unique needs of your business.

Client Profiles

While this approach primarily appeals to entrepreneurs, existing businesses looking for growth and efficiencies in the online arena are increasingly seeing its attraction. More traditional, change-resistant sectors are beginning to embrace the benefits these new economy models offer.

Product Availability

Geographical coverage is for informational purposes only. Product and service offers can vary based on location, industry, risk profile and unique business needs.

The information contained herein is intended for informational purposes only. It’s is neither an offer to sell nor a solicitation to purchase any particular insurance product. Insurance coverage in any particular case will depend upon the type of policy in effect, the terms, conditions and exclusions in any such policy, and the facts of each unique situation. No representation is made that any specific insurance coverage would apply in the circumstances outlined herein. Please refer to the individual policy wordings for specific coverage details. AXA XL is a division of AXA Group providing products and services through four business groups: AXA XL Insurance, AXA XL Reinsurance, AXA XL Art & Lifestyle and AXA XL Risk Consulting. Not all of the insurers do business in all jurisdictions nor is coverage available in all jurisdictions.

US- and Canada-Issued Insurance Policies. In the US, the AXA XL insurance companies are: AXA Insurance Company, Catlin Insurance Company, Inc., Greenwich Insurance Company, Indian Harbor Insurance Company, XL Insurance America, Inc., XL Specialty Insurance Company and T.H.E. Insurance Company. In Canada, coverages are underwritten by XL Specialty Insurance Company - Canadian Branch and AXA Insurance Company - Canadian branch. Coverages may also be underwritten by Lloyd’s Syndicate #2003. Coverages underwritten by Lloyd’s Syndicate #2003 are placed on behalf of the member of Syndicate #2003 by Catlin Canada Inc. Lloyd’s ratings are independent of AXA Group.

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