Axio

Cohort: Cohort 10, 2023 

Focus in insurance value chain/workflow: Point of underwriting 

Specific lines of business supported: Corporate 

Founded: 2013 

Status: Operating, still in insurance 

Company type: Data models, Data provider 

Head office: USA 

Main global offices: USA  

Locations served: Global 

Employee count: 11-100 

Axio helps customers understand cybersecurity risks, compliance and insurance. Insurers can use Axio to stress test how a specific policy will respond to a cyber-attack across an entire portfolio. Brokers also can work with Axio to identify gaps in insurance policy coverage by searching for exclusions and clauses. 

Primary way aimed to improve insurance processes and tools whilst in the Accelerator: Ancillary, accountancy and regulatory compliance services I New sources of risk insight - data or models  

During the Lab programme Axio were able to build a friction-less process for cyber physical damage risk transfer. With the advice and expertise from mentors in the market, they developed a fully operational proof of concept demo platform during the 10-weeks, which will be used to underpin business between brokers and underwriters for cyber physical damage.