Meet Requirements, Save Money, and Reduce Risk for Cyber Insurance
Actuarial data is at the heart of the insurance industry and for good reason: Working with large sample populations, insurers can accurately determine the likelihood and severity of a covered event and set rates accordingly.
That’s why many cybersecurity insurance companies and underwriters are requiring penetration tests before writing policies. The security questionnaires they include may seem like check-the-box forms, however, the intention is to help organizations realize the need to identify their vulnerabilities and remediate to reduce risk.
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While the risk is very real, there are actions you can take to significantly reduce cyber risk.
Raxis helps cyber insurers and companies seeking coverage
Raxis uses the same tactics and technology as real-world hackers. Our team also includes certified engineers with diverse backgrounds, who not only understand how to gain unauthorized access to your network, but who also know what types of data are potentially valuable to hackers — and why. Raxis takes away the guesswork and shows you exactly which assets are at risk within the company being tested.
After finding vulnerabilities, Raxis prepares a clear and comprehensive report, including storyboards, that explains vulnerabilities uncovered and the steps necessary for remediation. Our team members are available to discuss findings and answer questions from the company or its designee. Retesting is also available to verify the issues have been remediated properly.
If the reported vulnerabilities are found to be remediated when retested, Raxis will provide an attestation letter to that effect without including details about specific findings. That letter is your assurance that a well-qualified team of professional, ethical hackers has tested the subject company and that any issues found were corrected, making the company a much more difficult target.
Raxis offers managed penetration testing — our Penetration Testing as a Service (PTaaS) — for companies that want ongoing security. Our service employs automation to surface any changes from an annual baseline pentest. When such changes are discovered, human engineers review to first rule out false positive findings. If a real issue is found, a certified Raxis pentester will perform a manual test to determine the severity of the vulnerability and notify the customer.
While no system is perfect, an organization that does frequent penetration testing is still substantially less likely to get breached. Pentesting helps reduce the attack surface that is visibible to outsiders, leaving limited opportunities for attackers to leverage. They often just move on to easier targets.
Cybersecurity spending is not an accurate measure of preparedness
One crude method of assessing risk is by comparing a company’s spending on cybersecurity to its total revenue, total IT expenditures, or some other benchmark. Though it would seem logical that companies who spend more money on cybersecurity are more prepared, that isn’t necessarily the case. With more than a decade of experience and thousands of pentests under our belts, the Raxis team has seen countless examples of companies over-investing in the wrong cybersecurity technology, leaving parts of their attack surfaces unprotected, and/or implementing counterproductive security policies (or not enforcing effective ones).
Either continuously or on demand, Raxis One shows a clear picture of the attack surface for an organization. It's an organized, simple to understand view that represents the same perspective that an outsider would have of an organization when they are attempting to launch an attack.
Learn MoreOur interests are aligned
It’s in everyone’s interest — cyber insurers and companies looking for coverage — to prevent a major breach from happening in the first place. It can take months or even years for companies to recover the revenue, trust, and good will with customers. Some never do. Insurers can face large payouts, made more costly if the risk models are wrong.
Bring Raxis in to provide an accurate and reliable assessment of risk. Let our team find vulnerabilities and recommend ways to fix them. Have us retest and monitor dynamic company networks for possible new vulnerabilities to keep the breach risk low over time. In the world of cybersecurity, there are no guarantees, but there are ways to become — and insure — much harder targets.
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