Axio partners with its investor NFP to expand cybersecurity capabilities

Cyber risk management Software-as-a-Service company Axio announced a partnership with insurance broker NFP Ventures that will see NFP deploy Axio360 QuickQuant.

“The Axio360 QuickQuant platform was built to fundamentally redefine how community banks solve cybersecurity problems by using real-life cyber events to enable business-centric decision making by putting the risk in financial terms. Our operating system aligns all key constituents and delivers clarity in real-time. This partnership with NFP allows our software to deliver a simple and effective process to overcoming cyber challenges.” – Scott Kannry, CEO for Axio.

This announcement follows a previous minority investment in Axio by NFP Ventures, the early-stage investment arm of NFP.

This partnership will give insurance buyers for community banks access to a holistic view of cybersecurity risks, the ability to navigate the complexities of the risk, and identify insurance solutions that respond to cyber losses that could impact the bank’s earnings and balance sheet.

“The cybersecurity needs of community banks remain highly underserved, primarily because many insurance brokers either don’t understand the inherent complexities or try to overstate their capabilities. We have the expertise to address the fundamental queries buyers have, helping community bank leaders understand their cyber risks, decipher what it is they’re actually buying, and fix any gaps in their existing coverage. Our value is driven by specialized technical advice and exceptional ongoing service, and the Axio360 QuickQuant platform complements this value in ways that will benefit our community bank clients.” – Mark Flippen, managing director of NFP’s financial institutions group.