Slice Labs launches cyber insurance for Lenovo customers

On-demand insurance platform Slice Labs is launching a cloud-based cyber insurance policy for small and medium-sized businesses using Lenovo computers.

The partnership will see cyber insurance available through the Security Advisor suite of the Lenovo Vantage platform.

This deal will enable Lenovo SMB customers to access cyber insurance which covers various threats including ransomware, and will help them to recover from an attack. It will also offer AI and analytics to inform companies of potential attacks, to help them prepare.

To get a policy, a company simply answers six questions about their online business and Slice will assess exposure based on external web presence. It will also offer a free personalised risk score which compares cybersecurity of the business with others.

A quote for month cyber insurance will be offered, and if bought, will come with a Cyber Health Check.

The policy covers a range of attacks including ransomware, phishing and malware. Companies can select a coverage limit ranging from $250,000 and $3m.

Slice Labs CEO and co-founder Tim Attia said, “With cybercrime on the rise in the current environment, the enormity of protecting businesses requires a multi-pronged approach to cyber risk management comprising education, technology, and insurance.”

The insurance policy comes through an existing partnership between Slice Labs and AXA XL.

Late last year, the two companies teamed up to provide Microsoft 365 Business, Office 365 Business Premium and Office 365 Business customers with improved cyber health and to mitigate risks.

AXA XL chief underwriting officer John Coletti said, “Small businesses owe it to themselves, customers, and partners to spend a few minutes to get an on-demand cyber insurance policy in place. The consequences of not doing so are way more detrimental than losing a short period of the day to purchase this product compared to the potential of having to close a business after an attack.”

Copyright © 2020 FinTech Global

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