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Managed Services: A Cybersecurity Shield for Every Industry Breadcrumb Home Insights Blog Managed Services: A Cybersecurity Shield for Every Industry November 25, 2024 In a world increasingly interconnected by technology, cyber threats are more prevalent than ever, posing significant risks to businesses across all industries. As a result, cyber insurance has become a crucial component of risk management strategies. However, simply purchasing a policy is not enough. To truly protect your organization, you need a robust cybersecurity strategy. This is where managed services come into play. Managed services provide businesses with a comprehensive suite of IT services delivered by a third-party provider. These services can significantly enhance your organization's cybersecurity posture, making you a more attractive candidate for cyber insurance and potentially reducing your premiums. Here's how managed services can help you in the world of cyber insurance: Improved Cybersecurity Posture: Managed service providers (MSPs) can help you implement best practices for cybersecurity, such as: Regular vulnerability assessments: Identifying and addressing potential weaknesses in your systems Patch management: Ensuring that your software is up to date with the latest security patches Endpoint security: Protecting your devices and data from malware and other threats Network security: Securing your network infrastructure to prevent unauthorized access Data backup and recovery: Implementing robust data backup and recovery plans to minimize the impact of data breaches Compliance with Industry Regulations: Many industries have specific cybersecurity regulations that businesses must comply with. Managed services can help you meet these requirements and avoid costly fines and penalties. Expert Guidance: MSPs can provide you with expert guidance on cybersecurity best practices and emerging threats. This can help you make informed decisions about your cybersecurity strategy. Reduced Risk of Data Breaches: By implementing effective cybersecurity measures, you can significantly reduce the risk of data breaches. This can lower your cyber insurance premiums and help you avoid costly business disruptions. Faster Incident Response: In the event of a cyberattack, managed services can provide rapid incident response capabilities. This can help you minimize the impact of the attack and reduce your recovery time. Examples of Managed Services in Different Industries Health Care: Health care organizations are particularly vulnerable to cyberattacks due to the sensitive nature of their data. Managed services can help healthcare providers protect patient data, comply with HIPAA regulations and ensure the continuity of care. Financial Services: Financial institutions are often targeted by cybercriminals seeking to steal sensitive financial information. Managed services can help banks, insurance companies and other financial institutions protect customer data, comply with regulatory requirements and mitigate the risk of fraud. Retail: Retailers handle a vast amount of customer data, including credit card information and personal details. Managed services can help retailers protect customer data, prevent fraud and ensure compliance with PCI DSS standards. Manufacturing: Manufacturing companies rely heavily on technology to operate their businesses. Managed services can help manufacturers protect their critical infrastructure, prevent downtime and ensure compliance with industry regulations. Education: Educational institutions are responsible for protecting student and faculty data. Managed services can help schools and universities implement robust cybersecurity measures, comply with FERPA regulations and prevent disruptions to learning. Tanium’s Global Director of Managed Services, Rick Welther, emphasizes the importance of managed services in today's cybersecurity landscape. "In the face of increasingly sophisticated cyber threats, businesses need to adopt a proactive approach to cybersecurity. Managed services offer a comprehensive solution that can help organizations improve their security posture, reduce the risk of data breaches and protect their bottom line,” he said. By leveraging managed services, you can demonstrate to your cyber insurance provider that you have taken proactive steps to protect your organization from cyber threats. This can make you a more attractive insurance candidate and potentially reduce your premiums. In conclusion, managed services are essential for businesses across all industries looking to protect themselves in the world of cyber insurance. By improving your cybersecurity posture, complying with industry regulations and reducing the risk of data breaches, managed services can help you lower your insurance premiums and protect your organization from costly cyberattacks. By: Rick Welther Senior Director, Global MSP | Tanium Rick Welther has spent over 20 years building alliance and channel relationships with high-growth software and SaaS companies. He has extensive experience growing global partnerships and in helping them achieve their goals and objectives. As senior director at Tanium, he is responsible for building global strategy across Tanium’s ecosystem of managed service provider (MSP) partners and enabling them to deliver exceptional results to their customers. Share: Optiv Security: Secure greatness.® Optiv is the cyber advisory and solutions leader, delivering strategic and technical expertise to nearly 6,000 companies across every major industry. We partner with organizations to advise, deploy and operate complete cybersecurity programs from strategy and managed security services to risk, integration and technology solutions. With clients at the center of our unmatched ecosystem of people, products, partners and programs, we accelerate business progress like no other company can. At Optiv, we manage cyber risk so you can secure your full potential. For more information, visit www.optiv.com.
Optiv Security: Secure greatness.® Optiv is the cyber advisory and solutions leader, delivering strategic and technical expertise to nearly 6,000 companies across every major industry. We partner with organizations to advise, deploy and operate complete cybersecurity programs from strategy and managed security services to risk, integration and technology solutions. With clients at the center of our unmatched ecosystem of people, products, partners and programs, we accelerate business progress like no other company can. At Optiv, we manage cyber risk so you can secure your full potential. For more information, visit www.optiv.com.
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