Allianz and Aon team up with tech giants to offer cyber cover for businesses
Source: Middle East Insurance Review | Mar 2018
Cisco, Apple, Aon and Allianz have collaborated to launch a new cyber risk-management solution for businesses, helping a wide range of organisations to better manage and protect themselves from cyber risk, including ransomware and other malware-related threats, which are the most common threats faced by companies today.
The solution comprises cyber resilience evaluation services from Aon, the most secure technology from Cisco and Apple, and options for enhanced cyber insurance cover from Allianz.
With cyber security risk growing, losses from cyber threats are outpacing investment in IT security. This fact, combined with a low adoption of cyber insurance, a fragmented security technology market and a security skills shortage, means it is difficult for many organisations to understand and manage this risk effectively.
“Ransomware is an evolving risk that impacts every level of an enterprise. Organisations urgently need to be managing these risks from both the technical and the financial perspective,” said Mr Jason Hogg, CEO, Aon Cyber Solutions. “This holistic solution provides our clients with an integrated approach to addressing ransomware risk. We can provide customers with guidance on what cyber defenses, resources and processes to deploy to improve their cyber posture. It’s the improved cyber posture that makes them eligible for enhanced/broader cyber insurance protection.”
Proactive analysis, coupled with the latest technology, creates an ideal defence against today’s ever-changing ransomware and malware attacks, said Mr Bill Scaldaferri, President and CEO, AGCS North America. “This strategic alliance with Aon, Apple and Cisco allows us to provide a unique solution to companies using this integrated platform to manage risk and ultimately strengthen their battle against high-profile threats,” he added. M