American International Group has partnered with K2 Intelligence, BitSight Technologies, RSA, and Axio Global, in a bid to provide enhanced risk mitigation and prevention services to its cyber insurance clients.
AIG offers CyberEdge risk management and insurance product that allows clients to manage the expanding threat of cybersecurity attacks and failures.
Under the deal, the firms will allow AIG CyberEdge policyholders to access their pre-breach threat intelligence, governance tools, and the latest best practices to understand cybersecurity exposure, including the responsiveness of insurance program to a cyber attack.
AIG professional liability global head Tracie Grella said: "The threat of cyber attack continues to grow. Companies are becoming more aware that the costs can be steep for those that fail to understand, mitigate, and transfer cybersecurity risk."
Through the new partnerships, AIG will offer new services to its CyberEdge clients, including customized threat intelligence from K2 Intelligence.
K2 Intelligence uses advanced sophisticated intelligence gathering techniques and investigative tools to collect and analyze chatter about an organization from the deep web and dark net, hidden areas of the Internet where cyber criminals will carry out business.
AIG will offer BitSight Security Ratings from BitSight Technologies. The company analyzes externally observable data such as botnets, malware, and spam to continually rate a company’s cybersecurity posture.
RSA’s NIST Cybersecurity Framework will allow companies to identify key functional areas of improvement to achieve an improved cybersecurity risk posture.
Axio Global, which develops cyber risk management solutions, will address the full range of potential cyber losses, including physical damage, bodily injury, environmental damage, and other advanced forms of loss.
Image: AIG headquarters on 175 Water Street New York City. Photo: courtesy of AIG.