Just like other properties, insuring your digital asset against any cyber-related attack is an invaluable investment to protect yourself financially should there be losses or damages from cyberattacks. As the saying goes, advanced technology leads to advanced criminology. There has been an increasing report of cybersecurity threats in cyberspace, which has led to the loss of funds by businesses; hence, it is important to insure your digital assets against any cyber crime.
Silverfort is one of the popular cyber insurance companies that protects digital assets against cyber-related threats like data breaches, ransomware attacks, phishing attempts, malware infections, etc. with the use of their multi-factor authentication (MFA) method to ensure that only legitimate users have access to sensitive information about any site/establishment under their coverage.
What is Cyber Insurance?
Cyber insurance is a type of insurance that is designed to shield businesses and individuals from financial losses caused by cyber-related attacks. It is also called cyber-risk insurance or cyber-liability insurance.
This insurance cushions the effects of financial damages that occur due to data breaches, ransomware attacks, cyber attacks, phishing attempts, malware infections, etc. Once you enroll your business against cyber-related attacks, it will be safeguarded against any cyber crime.
Importance of Cyber Insurance
Just like insuring other properties, the importance of cyber insurance can not be overemphasized since it comes with a lot of advantages. The benefits of cyber insurance are enumerated below:
- It protects your business against any cyber-related damages.
- It guarantees financial peace of mind against any uncertainty.
- Helps businesses meet cyber regulatory rules
- Avail businesses opportunities to access expert services in their cyber incident management
- Reduce the financial burden for organizations.
Unique Features of Silverfort Cyber Insurance
Silverfort, one of the leading cyber insurance companies, has special features that stand out from the crowd. Some of the features are:
1. It has Multi-Factor Authentication (MFA)
Although multi-factor authentication is commonly used in cyberspace, Silverfort integrates MFA with adaptive risk analysis, ensuring that the authentication process is strong enough to withstand any cyberattack.
2. Continual Risk Assessment
Silverfort uses an adaptive risk-based authentication process to continuously assess the risk that may emanate from the user’s action. It works on the principle of analyzing user behavior to ensure that only legitimate users access sensitive data from a site.
3. It has Cloud Security
Silverfort also has cloud security that protects sites against cyberattacks while allowing genuine users to access sites with ease.
4. It has Threat Intelligence
Silverfort integrates threat intelligence feeds into their system, which helps detect any related cyberattack with ease. With this feature, Silverfort can detect highly sophisticated cyberattacks.
Silverfort Working Principle
Silverfort works on the principle of using adaptive risk-based authentication to scrutinize each user’s behavior to ensure that only legitimate users access sensitive data of businesses under their coverage. With their Multi-Factor Authentication (MFA), suspicious people won’t be able to access sites/companies under Silverfort.
How to Start Using Silverfort Cyber Insurance
To start using Silverfort cyber insurance, you can do the following:
1. Assess your Cybersecurity Needs
Before you think of using Silverfort cyber insurance, it is best to assess and determine your cybersecurity needs to know the particular cyber risk that you will insure. To do this, you can reach out to an expert from Silverfort to have them help assess your business and suggest the best insurance plan that suits you.
2. Get a Quote
After assessing the cybersecurity needs of your business, the next thing is to get a quote from Silverfort to know how much they charge for protecting digital assets.
3. Activate the Insurance Policy
If you are comfortable with the Silverfort insurance policy, the next thing is to activate their policy so that they can start safeguarding your digital asset against a related cyberattack.
Conclusion
Insuring your digital asset against cyber-related attacks is very important to help protect you financially should their be losses or damages from cyberattacks. Silverfort cyber insurance protects your digital asset from data breaches, ransomware attacks, phishing attempts, and malware infections through the use of adaptive risk-based authentication and multi-factor authentication.
