Leading E-Security Company and Global Insurance Organization in Program
Designed to Make the Internet Safer for Conducting Commerce
SAN JOSE, Calif., RSA CONFERENCE 2000, Jan. 17 /PRNewswire/ -- Enabling
customers to conduct business more safely on the Internet, RSA Security Inc.
(Nasdaq: RSAS) and the member companies of American International Group, Inc.
(NYSE: AIG) today announced a strategic alliance designed to help reduce the
costs and risks associated with moving organizations online. Bringing
together the leading U.S.-based international insurance organization and RSA
Security, the most trusted name in e-security(TM), the insurance and security
products and services offered through the alliance are designed to enable
organizations to quantify, reduce and prepare for the risks associated with
e-business.
The planned elements of this wide-ranging initiative include the
following:
-- The two companies will work jointly to identify and quantify the risks
of conducting business online and the technologies available to
mitigate them, which may result in new e-business insurance products
from AIG member companies.
-- RSA Security will work to assist AIG member companies by providing
insurability assessments for both current and potential e-business
insurers of AIG member companies.
-- Organizations that secure their e-business initiatives with RSA
Security products or third party "RSA Secured" products will receive
discounts, to the extent legally permitted, on e-business insurance
coverage underwritten by AIG member companies.
-- E-business insurers of AIG member companies will receive discounts on
RSA Security's complete line of e-security products.
-- RSA Security and AIG member companies intend to engage in a variety of
cooperative marketing and sales activities.
"Today's announcement is a turning point in the evolution of e-business on
the Internet, establishing an actual monetary value on the protection offered
by specific e-security solutions, and elevating e-security to a mainstream
business practice," said Art Coviello, president of RSA Security Inc. "We
look forward to working closely with the member companies of AIG to help
empower organizations to control their risk through comprehensive,
business-friendly solutions, and in promoting and growing the market for
e-business insurance and e-security products."
Doing business on the Internet exposes companies to a host of new
liability risks not found in the offline world. In response, many
organizations today rely on a combination of technologies to conduct
authenticated, private and legally binding electronic communications and
transactions, which help in reducing their risk. At the same time, these
organizations may benefit from new types of insurance products specifically
tailored to this unique environment to help limit their exposure in the event
of a loss.
"AIG member companies are leading the way in developing innovative
e-business insurance products for the new economy, helping organizations limit
their exposure to loss from new kinds of risks, and providing the insurance
protection they need to conduct e-business with confidence," said Kristian P.
Moor, AIG executive vice president, Domestic General Insurance. "Toward that
goal, we are pleased to provide our insurers with access to the leading
security technology and solutions from RSA Security to help them further
reduce their e-business related risks."
In addition to the joint product development and customer discounts and
risk assessments, AIG member companies and RSA Security expect to engage in a
number of cooperative marketing activities. For example, AIG member companies
will play a role in the upcoming RSA Conference 2000, joining in an Analysts
Track session entitled "Mitigating the Risk of E-Business: Insurance
Initiatives for a New Economy," and RSA Security will participate in AIG's
NASDAQ CEO, law and broker seminar series.
About American International Group, Inc.
AIG is the leading U.S.-based international insurance organization and the
largest underwriter of commercial and industrial insurance in the United
States. Its member companies write property, casualty, marine, life and
financial lines insurance in approximately 130 countries and jurisdictions,
and are engaged in a range of financial services and investment management
businesses. American International Group, Inc.'s common stock is listed on the
New York Stock Exchange, as well as the stock exchanges in London, Paris,
Switzerland, and Tokyo
About RSA Security Inc.
RSA Security Inc., The Most Trusted Name in e-Security(TM), helps
organizations build secure, trusted foundations for e-businesses through its
RSA SecurID(R) two-factor authentication, RSA BSAFE(R) encryption and RSA
Keon(TM) public key management systems. With nearly a half billion RSA
BSAFE-enabled applications in use worldwide, more than six million RSA SecurID
users and almost 20 years of industry experience, RSA Security has the proven
leadership and innovative technology to address the changing security needs of
e-business and bring trust to the new, online economy. RSA Security can be
reached at http://www.rsasecurity.com.
NOTE: BSAFE and SecurID are registered trademarks, and Keon, RSA and The
Most Trusted Name in e-Security are trademarks of RSA Security Inc. All other
products and services mentioned are trademarks of their respective companies.
This press release contains forward-looking statements relating to an
alliance between RSA Security and American International Group to reduce the
costs and risks associated with doing business online. Such statements
involve a number of risks and uncertainties. Among the important factors that
could cause actual results to differ materially from those indicated by such
forward-looking statements are the parties' ability to provide insurability
assessments, availability of adequate technologies to mitigate identified
security risks, legal restrictions preventing discounts on insurance coverage
provided by AIG, ability of the two companies to plan and implement
cooperative marketing programs, general economic conditions and the risk
factors detailed from time to time in RSA Security's periodic reports and
registration statements filed with the Securities and Exchange Commission,
including without limitation RSA Security's Annual Report on Form 10K (File
No. 000-25120), filed on March 31, 1999 and on RSA Security's most recent Form
10Q, filed on November 15, 1999.
SOURCE RSA Security Inc.
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Related links:
http://www.rsa.com
CONTACT:
Patrick Corman of Corman Communications,
650-326-9648, or patrick@cormancom.com, for RSA Security Inc.; or
Richard Mack of RSA Security Inc., 781-301-5344, or
rhmack@rsasecurity.com
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