NFP Ventures Invests in Axio Global Inc., Cybersecurity Optimization Platform
Strategic partnership to strengthen NFP's cyber risk assessment and management services
NEW YORK – November 15, 2018 – NFP Ventures, the early-stage investment arm of NFP, today announced a minority investment in Axio Global Inc. (Axio), whose solutions help companies optimize their portfolio of technical and financial cybersecurity controls and benchmark against best practices. The investment helps NFP broaden its cyber-risk portfolio and offer a complete cyber-risk management solution to complement existing insurance market intelligence and cyber brokerage and claims capabilities. The transaction closed on Oct. 1, 2018.
Axio, founded in 2013, has demonstrated significant early success in the rapidly expanding cybersecurity market. The SaaS-based cyber risk assessment platform integrates cyber maturity insight with risk quantification and a diagnosis of financial and insurance coverage strength, and applies a proprietary risk analysis framework to identify and manage un-treated cyber exposure. Axio's platform helps align risk, security and other critical functions. It is also intended to help the C-suite and board of directors to manage duty of care concerns.
"Nearly every business is susceptible to some form of a cyberattack. While breaches are inevitable, we believe that taking a broad-based, comprehensive approach to cyber-security will mitigate risks and ensure clients and prospects are well-positioned to deal with emerging cyber threats," says Shawn Ellis, managing director of NFP Ventures. "Our investment in Axio reflects a common goal: advancing the management of cyber risk to prevent business interruption, manage losses and protect the operational well-being of our clients' organizations. This partnership provides an exciting opportunity to enhance NFP's current insurance market intelligence and claims capabilities, attuning a more extensive and client-focused risk management platform."
"We are thrilled to work with NFP, drawing on their years of experience in the insurance and risk management space," said David White, founder and COO of Axio. "Their support will be critical in continuing to provide risk quantification, insurance analysis and risk management guidance to a range of boards, senior executives, risk managers and security leaders across company sizes and industry verticals."
For more information, please visit https://axio.com.
Axio knows impenetrability is impossible — but cyber resilience is within reach. Our technology and services help clients ensure that they understand their exposure, manage it effectively, and are equipped to financially recover. Axio delivers the industry's only true cyber resilience optimization solution that looks at IT security and financial controls/insurance to create an integrated, holistic technology and financial risk solution that can evolve with each client as the risk landscape shifts.
About NFP Venture, LLC.
NFP Venture, LLC. (NFP Ventures) is a venture fund launched by NFP that focuses on strategic partnerships and investments in the emerging Insurtech, Fintech and HR Tech arenas. NFP Ventures' mission is to find, fund and work successfully with visionary executives, providing them with expertise to foster long-term success. Typically, NFP Ventures targets companies seeking Seed to Series B investment that can benefit from NFP's distribution, human capital and other unique assets to accelerate their growth.
NFP is a leading insurance broker and consultant that provides employee benefits, property and casualty, retirement and individual private client solutions through our licensed subsidiaries and affiliates. Our expertise is matched by our commitment to each client's goals and is enhanced by our investments in innovative technologies in the insurance brokerage and consulting space.
NFP has more than 4,700 employees and global capabilities. Our expansive reach gives us access to highly rated insurers, vendors and financial institutions in the industry, while our locally based employees tailor each solution to meet our clients' needs. We've become one of the largest insurance brokerage, consulting and wealth management firms by building enduring relationships with our clients and helping them realize their goals.
Recently NFP was named the 2nd largest retirement plan aggregator firm, as ranked by Investment News; the 5th largest US-based privately owned broker, the 5th best place to work in insurance and the 6th largest benefits broker by global revenue by Business Insurance; the 9th largest property and casualty agency by total 2016 P&C revenue and the 9th largest commercial lines agency by total 2016 P&C and commercial lines revenue by Insurance Journal; the 10th largest employee benefits broker by Employee Benefit Adviser; the 11th largest broker of US business by Business Insurance; and the 12th largest global insurance broker by Best's Review.
For more information, visit NFP.com.
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