Axis Insurance reveals strategic partnership with cyber security insurtech

AXIS Insurance, the specialty insurance business of AXIS Capital Holdings, has partnered with Elpha Secure to provide cyber security software for small businesses.

Under the strategic partnership, Elpha Secure, an insurtech that was set up to cater for the insurance industry, will offer Elphaware. This is a ‘software as a service’ (SaaS) application that is designed to mitigate the risk of common cyber threats.

Elphaware is intended to provide small and micro businesses with the cyber security tools and protections that are needed in the current, more digitally savvy, marketplace.

“Today’s small businesses have a need for efficient, effective solutions to manage their cyber risks,” said Dan Trueman, global head of cyber and technology at AXIS Insurance. “Cyber risk mitigation requires sound insurance solutions balanced with resolute cyber security for the resiliency of small businesses and for long-term stability. The Elpha Secure team are innovators, having brought critical cyber risk mitigation solutions to small enterprises and micro-sized businesses.”

Preetam Dutta, chief executive officer at Elpha Secure, commented: “The entire Elpha Secure team is excited to work with AXIS. Together, we can help protect businesses from cyber criminals."

The SaaS application offers small business owners a suite of cyber security tools that work alongside existing security measures with a single installation. This includes five key features: secure, encrypted backups of critical data; multi-factor authentication for remote access; the ability to restore compromised systems in hours; the ability to create a virtual private network (VPN); and insider threat and anomaly detection.

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