AXA Cyber Insurance Singapore Review 2025
Last updated: November 2024
Overview
AXA is a French multinational insurance company and one of the world's largest insurers. In Singapore, AXA offers well-balanced cyber insurance products that provide excellent value for mid-size businesses seeking comprehensive coverage without enterprise-level pricing.
Key Coverage Features
- Ransomware Coverage: Full protection including ransom payments and recovery costs
- Data Recovery: Comprehensive data restoration and system repair coverage
- Legal Expenses: Coverage for legal defense and regulatory proceedings
- PR Support: Crisis communication and reputation management
- Third-Party Liability: Protection against customer and vendor claims
Pricing
| Business Size | Coverage | Annual Premium |
|---|---|---|
| Small (5-25) | $500,000 | $600 - $1,200 |
| Medium (25-100) | $2,000,000 | $1,500 - $3,000 |
| Mid-Market (100-500) | $5,000,000 | $3,500 - $7,000 |
Pros & Cons
Pros
- + Excellent value for mid-size businesses
- + Straightforward claims process
- + Strong ransomware coverage
- + Good PR/crisis support
Cons
- - Lower coverage limits than Chubb/AIG
- - Less specialized for tech companies
- - Standard incident response
Our Verdict
AXA offers excellent value for mid-size Singapore businesses seeking balanced cyber coverage. Their competitive pricing and solid coverage make them a strong choice for companies that have outgrown basic policies but don't need enterprise-level solutions. For tech companies, consider Zurich instead.