MGA : TPA
But he is also quick to point out that the latest technologies cannot be the only protection companies rely on . “ All too often , we hear how the latest product will be the saviour of cyber security for overstretched and under-resourced IT teams . The latest Security Information and Event management ( SIEM ) and End Point Detection and response ( EDR ) tools definitely have a place within the cyber security arsenal , but basics must come first .
“ Our experience in red-teaming has shown that these tools require configuration and fine-tuning to provide the results companies expect out of the box . When the underlying cyber security has been neglected in favour of a shiny tool , the crumbs left behind give an attacker a way through the forest of defences in order to bypass the latest procurement .”
“If people understand the seriousness of these issues from a personal point of view , they will care sufficiently to make sure that such risks are minimised whilst they are at work ”
NIGEL JONES PRIVACY COMPLIANCE HUB
The future of cybersecurity in insurtech Ultimately , cyber-attacks are not going away , ransomware incidents are increasing and payments are rising . Additionally , cyber insurance premiums are going up . A vast amount of the tools , data , and stolen credentials that adversaries use during the kill chain have been democratised , which has made the planning and preparation for a cyber-attack more streamlined and efficient .
Jinivizian concludes : “ We will likely see more of the same – supply chain attacks , exploiting slow-to-patch IT departments with zero-day vulnerabilities … It ’ s important that insurtechs – and all industries – think of IT security as an intrinsic part of risk management , a process of continual improvement . Technology strategies should support the business risk agenda .”
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