Accenture to provide cyber incident response services for AXA XL

Accenture will provide its cyber incident response service (CIRS) to AXA XL’s clients, helping them respond to, and recover from cyberattacks.

CIRS guides affected companies through each stage of a cyber incident claim, from the initial reporting to containment and business restoration. Accenture also provides access to legal support, IT forensics and crisis communications advice, among other services.

In the event of an attack, AXA XL clients now have access to these services. Accenture provides post-breach security services for AXA XL clients outside the US, including incident management and information technology forensics. AXA XL US clients can choose Accenture among a group of other providers.

Research from Accenture shows that businesses overall remain underinsured for cyberattacks, with total premiums today accounting for less than 1 percent of the estimated $600 billion annual cost of cybercrime. Accenture estimates that it will cost organisations $5.2 trillion globally over the next five years in additional costs and lost revenue to deal with the implications of cyberattacks.

Justin Harvey, global incident response lead at Accenture Security, said: “Insurers have a huge challenge in underwriting risks associated with the complicated and potentially devastating consequences of cyberattacks. We aim to ensure that AXA XL’s clients have access to rapid, industry-relevant cybersecurity support so they can get back to business quickly.”

The partnership between Accenture and AXA XL was originally announced last year.