Initially rolled out on an industry basis for the likes of manufacturing, retail, healthcare, and financial services, the proposition is slated to be expanded to cover the P&C spectrum by early 2020. AXA XL clients outside the US will benefit from post-breach security services such as incident management and IT forensics. In the US, Accenture will provide post-breach services as part of a panel of vendors.
“We are very excited to announce this end-to end security partnership, which is designed to identify and serve the cyber-related needs of our clients,” commented Jason Harris, chief executive of AXA XL’s global P&C insurance business.
“As a leader in the cyber insurance market, AXA XL is committed to being a trusted partner in helping our clients improve their cybersecurity. It is paramount that we promote improved cybersecurity while also protecting clients from an insurance perspective in a transparent and forward-thinking way.”
Meanwhile Max Richter, Accenture UK’s general insurance sector lead and the firm’s global account lead for AXA XL, cited huge potential for a differentiated cybersecurity proposition through its tie-up with the insurer.
“This partnership will give AXA XL’s underwriters, and particularly their clients, vast access to Accenture Security’s ecosystem, including threat intelligence, risk mitigation, and post-breach services, which should foster more informed decisions about cyber risk and better post-breach outcomes,” said Richter.
According to Accenture’s research, cyberattacks could cost companies US$5.2 trillion in value-creation opportunities over the next five years.
