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Cybercrime is increasing.

Over the last few years, attacks have increased in frequency and complexity, often targeting small and medium-sized businesses.

When these attacks succeed, the consequences for their victims are often catastrophic, resulting in business closure or substantial financial losses, at the very least.

According to Carl Singler, Swivel Secure COO, this is the crucial reason why cyber insurance is becoming a necessity for large and small organisations seeking to reduce financial-, credibility-, and compliance risk.

However, did you know that it’s common practice for many assurers to require multi-factor authentication (MFA) before granting insurance?

Many underwriters require MFA to be in place at organisations before they are willing to provide a quote. Missing a tick in that box on your application can significantly increase premiums or outright refusal.

Without good MFA in place, companies significantly increase the risk of compromising personal data held in-system and/or losing access to your systems entirely.

Threats range from individuals or groups attacking systems for kudos to state-sponsored teams to CSaaS – Cyber Crime as a Service, which basically means attacking a company, compromising its data-storage security and systems, and then holding it to ransom and eventually payment in return for regaining control of its own data.

With more than twenty years of experience in protecting identities with intelligent authentication, Swivel Secure has packed proprietary technology into AuthControlSentry®, its MFA solution, used by global organisations and enterprises in over 50 countries.

This means that when you implement a credible solution like AuthControlSentry® in your business, you have dramatically increased your chances of getting cyber insurance at a better price.

Contact us here to find out more.