In the intricate world of cybersecurity, where digital threats evolve at a dizzying pace, businesses grapple with a dual challenge: fortifying their defenses against these threats while simultaneously convincing insurance underwriters of their risk management prowess. At SecondSight, a forerunner in the field of digital risk management, we recently engaged in a thought-provoking dialogue with Dara Gibson from Optiv, a global leader in cybersecurity advisory services. This discussion offered a deep dive into the complexities of earning recognition from underwriters for effective digital risk management, showcasing how SecondSight is revolutionizing Optiv’s approach to insurability services.
The Intersection of Cybersecurity and Insurance:
SecondSight: Welcome. Could you share how Optiv integrates cybersecurity within the broader spectrum of risk management for clients?
Dara, Optiv: Optiv operates at the confluence of global cybersecurity and advisory consultancy. Our strategy revolves around harmonizing over 450 global reseller partnerships to tailor cybersecurity frameworks that resonate with our client’s needs. Central to this is our emphasis on cyber insurance as an integral facet of a comprehensive risk management strategy.
The Overlooked Facets of Insurability Controls:
SecondSight: In your extensive work with clients, what insurability controls are frequently neglected?
Dara, Optiv: The primary oversights we observe center around identity access control and managed endpoint detection. It’s not just about deploying Multi-Factor Authentication; it’s about crafting a robust access management strategy. Additionally, there’s a pressing need for continuous endpoint monitoring and a culture of cybersecurity awareness within organizations.
Leveraging SecondSight’s Platform:
SecondSight: How does SecondSight’s platform enhance Optiv’s service offerings?
Dara, Optiv: SecondSight’s platform is pivotal in our risk assessment process. It allows us to proactively identify and address potential risk factors, positioning our clients favorably in the eyes of insurance underwriters.
The Role of Incident Response and Off-Panel Selection:
SecondSight: How does Optiv handle incident response, especially in situations where you might be an off-panel choice for insurance carriers?
Dara, Optiv: Optiv’s approach to incident response is deeply integrated within our service offerings. Our team, rich in expertise from diverse backgrounds including the FBI and military, offers a nuanced understanding of cybersecurity crises. While insurance carriers often have pre-approved vendor panels, we work to educate our clients on the value of choosing Optiv, even as an off-panel provider. Our track record of swift and effective responses, often resolving issues that others couldn’t, positions us as a formidable choice in incident response.
Post-Acquisition Support and Incident Response:
SecondSight: Post-insurance acquisition, how does Optiv continue to bolster clients’ digital defenses?
Dara, Optiv: Our commitment extends beyond policy acquisition. We utilize SecondSight’s platform to provide our clients with a year-long risk monitoring capability. Alongside this, our incident response team stands ready to tackle any emergent challenges, ensuring continuous compliance with evolving insurability standards.
SecondSight: What led Optiv to partner with SecondSight for insurability services?
Dara, Optiv: SecondSight stood out for its holistic approach to risk management. The comprehensive nature of your services, coupled with your team’s expertise, aligned seamlessly with Optiv’s objectives, making SecondSight the obvious choice for us.
This dialogue with Optiv reinforces the significance of a synergistic approach to cybersecurity and insurance. Through SecondSight’s platform, Optiv is adeptly navigating the complexities of digital risk management, offering robust solutions to clients in an ever-evolving digital landscape. This partnership is a testament to the importance of collaboration in the quest for enhanced cyber resilience and insurability.