AXIS Capital Holdings Limited have announced that it has partnered with CyLon, a cyber security start-up accelerator. Through the partnership, AXIS and CyLon will help educate cyber security start-ups on the opportunities and challenges inherent in the cyber insurance market.
The AXIS Cyber Center of Excellence, AXIS’ global resource dedicated to improving brokers’ and insureds’ understanding of cyber risk, will work with CyLon to help source and mentor start-ups from around the world that enter the CyLon cyber security accelerator cohort in London. AXIS and CyLon will also co-host industry events and produce industry research and reports on the cyber security market.
“We’re pleased to partner with CyLon in the advancement of the global cyber security ecosystem. As firms face an ever-more dynamic cyber risk environment, it’s important that they have access to creative and innovative cyber security resources and services,” said Dan Trueman, Global Head of Cyber and Technology at AXIS. “Through our partnership with CyLon, we will work together to mentor and educate cyber security start-ups so they are accurately aligned to help companies mitigate their cyber risks.”
Since its launch in April 2015, CyLon has successfully supported more than 80 companies globally and has a portfolio of investments valued at more than £400 million. CyLon alumni have created more than 350 new jobs and have raised more than £120 million of follow-on funding.
Grace Cassy, Co-Founder of CyLon, said: “We are delighted to welcome AXIS Capital as a new partner to CyLon. AXIS Capital’s extensive knowledge and expertise in the cyber insurance market will provide huge benefit to CyLon companies, and will present new opportunities for partnerships and growth. We look forward to working closely with AXIS Capital as we continue our mission to find, grow and invest in the world’s best emerging cyber businesses.”
Other CyLon partner companies include Nominet, BAE Systems Applied Intelligence, Winton, ICE71, Singtel Innov8 and NUS Enterprise.