Lloyd’s of London invests in Axio to help businesses grow and benefit markets

Reinsurance market leader Lloyd’s of London has announced an investment in Axio to support the further development of insurance solutions in the London insurance market.

According to the announcement, this investment is a direct result of Axio’s selection and participation in Lloyds’ Lab Cohort 10, which successfully piloted an expansion of the Axio360 platform.

“Lloyds Labs is the center of innovation for the insurance industry, and as an investor it gives us the opportunity to back great companies with a strong shared interest in the industry. We can generate returns and help these companies grow for the benefit of the market,” commented Eleanor Backes, Chief Investment Officer at Lloyds.

The Axio360 platform was designed to assist Lloyd’s Syndicate in developing coverage solutions for cyber-physical damage exposures.

It is a decision engine for comprehensive cyber risk management, including cybersecurity assessments, cyber risk quantification (CRQ), risk transfer, and cyber insurance analysis.

Cyber-physical damage is a type of cyber risk, and the need for its coverage will become increasingly important as the world increasingly grapples with combating more sophisticated forms of cyber-attacks, especially those targeting critical infrastructure. It continues to become more sexual.

Axio highlighted that the partnership with Lloyds is a natural extension of the company’s commitment to helping critical infrastructure organizations quantify their cyber risks.

Scott Kannry, CEO and co-founder of Axio, said: One of our founding goals was to help the insurance industry better address cybersecurity risks, and the investment support from Lloyds is evidence of our unique ability to achieve that goal. We look forward to working even more closely with Lloyds Market to help them deliver better coverage solutions, particularly for the most challenging areas of cybersecurity risk. ”

Dawn Miller, Lloyds Commercial Director and Co-Founder, added: “As part of Lloyd’s continued commitment to innovation, today’s announcement is a great example of the power of the Lloyd’s Lab Accelerator Program, which is a great example of the power of the Lloyd’s Lab Accelerator Program. We form an integral part of the Innovation Hub in the heart of the City. We aim to further raise the Lab’s profile in our mission to innovate the market through the support and support of companies offering great solutions. I’m looking forward to it.”