Award-winning global Insurtech BOXX Insurance that combines cyber insurance and security has announced the launch of a cutting-edge cyber risk mitigation solution in collaboration with AXA, aimed at providing crucial support to small businesses. Recognizing the critical need for comprehensive protection against cyber threats for small businesses, BOXX Insurance has developed a user-friendly solution designed to help businesses better predict and prevent, potential cyber attacks.
“Small businesses often face significant challenges in securing adequate support against cyber risks, which can have devastating consequences for their operations” said Vishal Kundi, CEO and Founder, BOXX Insurance. “Driven by our mission to make the world a digitally safer place, we conducted in-depth research to understand the specific needs of small businesses. The findings underscored the importance of not only responding to and recovering from cyber attacks but also predicting and preventing them”. Kundi added.
The newly launched solution focuses on risk mitigation by enhancing the ability of small businesses to predict and prevent cyber risks delivered in partnership with AXA by:
Also Read: Cyber Risk Trends: How to Stay Secure in 2024
External Perimeter Scanning Assessment: Companies receive a cyber risk score based on scanning their external attack surface, along with a breakdown of contributing factors and a benchmark against industry peers.
Alerts for Compromised Credentials: Users benefit from 24/7 dark web monitoring to identify compromised credentials, such as email addresses, credit card numbers, and bank account details, with expert advice on responding to data breaches.
Employee Awareness and Training: The solution provides digital risk assessments and cyber awareness training to gauge critical risk exposure based on business operations. Training modules include onscreen and downloadable information, short videos, and self-assessments.
Instant Response Wallet: In the event of a hack, users can access an instant response wallet for guidance on necessary actions to take.
“Recognizing that 80% of cyber breaches stem from inadequate security measures, this new solution empowers businesses to proactively combat cyber threats. Through the provision of real-time alerts, digital risk assessments, and ongoing training, we are proud to introduce this indispensable tool to support our business clients, launching initially in Spain today.” said Alfonso Zayas Satrustegui, AXA Seguros España. “By offering companies a dynamically updated task list for sustained protection and equipping team leaders with a reporting dashboard to monitor progress, we deliver a powerful tool ensuring the digital safeguarding of our valued business clients.”
“The AXA Future Risk Report underscores the escalating threat posed by cyber threats,” remarked Kundi. “Whilst 68% of individuals acknowledge their vulnerability to cyber risks, an overwhelming 90% of experts concur that the potential for a massive global cyberattack is significant. BOXX takes great pride in collaborating with AXA to deliver a comprehensive solution that addresses the evolving needs of their clients, strengthening them against these increasing risks”.
BOXX Insurance remains committed to its mission of making the digital world safer for all. Through this innovative partnership with AXA, small businesses can now leverage advanced cyber risk prevention tools to protect their operations and stay one step ahead in an ever-evolving digital landscape.
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