Allianz partners with Cisco, Apple, Aon for cyber solution

Allianz, Cisco, Apple and Aon have joined forces to develop a new cyber risk management solution for businesses.

The solution includes cyber resilience evaluation services from Aon, technology from Cisco and Apple, and options for enhanced cyber insurance coverage from Allianz. The new solution is designed to help a wider range of organisations better manage and protect themselves from cyber risk associated with ransomware and other malware-related threats, which are the most common threats faced by organizsations today, according to a press release.

Cyber security risk is increasing due to growing digitization of operations. Furthermore, losses from cyber threats are outpacing investment in IT security, according to Allianz. This fact, combined with low adoption of cyber insurance, an active adversary, a fragmented security technology market and a security skills shortage, means it is difficult for many organisations to understand and manage this risk effectively, according to the press release.

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