AXIS Cyber
Manufacturing Case Study
THE CUSTOMER
A global electronics manufacturer who relies heavily on their technology systems to schedule deliveries, staff scheduling, and production lines. The company had grown through several acquisitions and its cyber security program was still being unified across the business.
THE EXPERIENCE
Upon binding its cyber insurance policy with AXIS and recognizing that cyber is a top risk facing the business, the manufacturer has an immediate opportunity to build awareness and manage the exposure. Alongside discussion with their insurance broker, the customer can tap into the AXIS Cyber Risk Advisory team and its support capabilities.
AXIS RESPONSE
When the customer contacts the AXIS Cyber Risk Advisory team, an onboarding call is scheduled at a mutually convenient time. During the call, discussion typically centers on the customer’s risk posture, compared against an industry-recognized framework, and the AXIS team will suggest several service approaches that could help fill gaps. For example, the customer may decide to establish a more robust data back-up and recovery strategy, while also conducting a tabletop exercise to test and improve the response capabilities of their executive team.
THE OUTCOME
Many customers complete these Cyber Resiliency and similar steps during the course of the policy period, with several touchpoints to the AXIS team along the way. Through this, they can gain confidence in their own ability to withstand cyber incidents and have better knowledge of the support resources standing by were one to occur. As they approach their annual cyber insurance renewal, these customers –through their broker– often highlight these efforts and successes to their underwriter.
"As an AXIS primary cyber insurance customer, they can take advantage of an onboarding call with the AXIS Cyber Risk Advisory team to begin identifying gaps in its cyber security, and proactively begin taking tangible action to close them."
Jonelle Horta Head of Cyber Resiliency Services
KEY CYBER COVERAGES TO CONSIDER
- Incident response costs
- Ransomware and extortion services
- Business interruption
ABOUT THE ONBOARDING CALL
Every primary cyber policyholder is offered an onboarding call. It provides:
- An introduction to the AXIS Cyber Risk Advisory team
- An overview of the AXIS Cyber Resiliency Services
- Our breach panel and claims notification protocols
The services and resources discussed in this document are suggested as risk mitigation and incident response resources. Use of any service or provider does not guarantee the performance or quality of the services provided, including the avoidance of loss, the fulfilment of any obligations under any contract or compliance with any law, rule or regulation. AXIS is not responsible for the effectiveness of a cyber risk management program and encourages each policyholder, together with advice from their professional insurance advisor, to perform its own independent evaluation of any service provider as part of its overall risk management strategy.
