Axa XL Insurance says cyber underwriting experts Grace Coleman, Nicholas Maxwell and Alberto Piccenna have joined its Australia operations, as the business responds to a surge in demand for digital solutions. 
 
The insurer also made similar appointments in Europe to strengthen its cyber underwriting capabilities. 
 
The new appointments follow that of Carlos Rodriguez Sanz as Regional Product Leader, Cyber for APAC & Europe. 
 
In Australia last year there was a near-13% rise in cybercrimes reported to the Australian Cyber Security Centre while in Europe the cybersecurity market is estimated at more than €130 billion ($212 billion) and is growing at a rate of 17% annually. 
 
“These are clear signs that businesses in Europe and Australia appreciate the risks associated with cyber security, and understand the need and urgency to protect their operations and minimise their exposure,” said Ana Dores, Chief Underwriting Officer, International Financial Lines – APAC & Europe. 
 
She says demand for cyber insurance solutions are growing and “our clients are increasingly turning to us to develop tailored solutions to help them prevent, mitigate and transfer the risks associated with technology”. 
 
“We want Axa XL to play a key role in the development of cyber solutions and believe that now is the time to invest in growing our team.” 
 
The new cyber underwriters will work with brokers to manage Axa XL clients’ cyber-related risks. 
 
Mrs Coleman began her career in the insurance market in 2019. In July last year she moved across to Brooklyn underwriting – a division of Axa XL – to lead Cyber and Technology for the SME space. 
 
Mr Maxwell has nearly 15 years’ experience in the insurance market and was most recently with AIG as Practice Lead Commercial Cyber, according to his LinkedIn. 
 
Mr Piccena has 20 years’ industry experience in the insurance industry and has worked at Allianz Global Corporate & Specialty, Gallagher and Aon.