Accenture Security Report 2016 Infographic for Insurance
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Many insurers underestimate the effectiveness of their cybersecurity strategies, with nearly one in three breach attempts succeeding. Companies must better align their cybersecurity strategies with business goals, foster a security-focused culture, and invest in training to effectively combat cyber threats. A significant number of businesses lack proper governance, monitoring capabilities, and cyber resilience, necessitating improved investment and preparedness in cybersecurity practices.
Accenture Security Report 2016 Infographic for Insurance
- 1. MOST INSURERS ARE CONFIDENT IN THEIR ABILITY TO PROTECT THE ENTERPRISE. YET, NEARLY 1 IN 3 FOCUSED BREACH ATTEMPTS SUCCEED. MANY COMPANIES INVEST INEFFECTIVELY IN CYBERSECURITY... DEFINE CYBERSECURITY SUCCESS Improve alignment of cybersecurity strategies with business imperatives and improve ability to detect and prohibit more advanced attacks. BUSINESS ALIGNMENT Only 32% of businesses are able to identify high-value assets and business processes. Understand scenarios that business, identify key drivers, decision points and barriers to strategy development. SECURITY CAPABILITIES Engage “white-hat” external hackers for attack simulations to establish a realistic assessment of internal capabilities. PROTECT FROM THE INSIDE OUT Prioritize protection of the organization’s key assets and focus on the internal incursions with greatest potential impact. ...AND RELY TOO MUCH ON COMPLIANCE. would spend extra budget on the same things they're doing now 30% 16% would invest in cybersecurity training Compliance frameworks and foundations but don’t protect a company from breaches. KEEP INNOVATING Improve overall maturity of the security team and its skills in protecting the business from devastating losses. Improve cybersecurity strategy alignment with business imperatives. Continuously improve your ability to detect and prevent advanced attack scenarios. Invest in state-of-the-art programs that enable outmaneuvering adversaries vs. investing more in existing programs. MAKE SECURITY EVERYONE’S JOB 96% of breaches not detected by security team members, are found by employees. Prioritize training for all employees. LEAD FROM THE TOP CISOs must materially engage with enterprise leadership and make the case that cybersecurity is a critical priority in protecting company value. INVEST TO INNOVATE AND OUTMANEUVER BUILD CONFIDENCE IN THE SECURITY ORGANIZATION ABOUT ACCENTURE Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions—underpinned by the world’s largest delivery network—Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With approximately 384,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com. REBOOT YOUR APPROACH DEAL EFFECTIVELY WITH THREATS GOVERNANCE AND LEADERSHIP Only 37% of businesses have a clear cybersecurity chain of command. Focus on cybersecurity accountability, nurture a security-minded culture and create a clear-cut cybersecurity chain of command. STRATEGIC THREAT CONTEXT Only 38% of businesses are competent in business-relevant threat monitoring. Align the security program with the business strategy by analyzing competitive and geo-political risks, peer monitoring and other areas of cybersecurity threats. CYBER RESILIENCE Only 37% of businesses have systems and processes that are properly designed in accordance with cyber resilience requirements. Understand the threat landscape, design key asset protection approaches and use “design for resilience” techniques to limit a cyber attack’s impact. CYBER RESPONSE READINESS Only 34% of businesses have proper cyber incident escalation paths. Develop a robust response plan, strong cyber incident communications, tested plans to protect and recover key assets THE EXTENDED ECOSYSTEM Only 38% of businesses are competent at dealing with third-party cybersecurity, only 36% are competent at cybersecurity regulatory compliance. Be ready to cooperate during crisis management, develop third-party cybersecurity clauses and agreements and focus on regulatory compliance. INVESTMENT EFFICIENCY Only 33% of cybersecurity investments protect key assets. of and compare cybersecurity investments against industry benchmarks, organizational business objectives and cybersecurity trends. 4 of 5 their abilities to protect their organizations from cyber attacks Accenture’s 2016 global survey on high performance security reveals several such contradictions. 72% say they have completely embedded cybersecurity into their cultures 1 in 3 targeted attacks result in a security attacks per month 113 targeted cyber attacks are faced by the average organization per year in the insurance industry FOLLOW US ON TWITTER: @AccentureSecure FOR MORE INFORMATION, VISIT: www.accenture.com/cybersecurityreport Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. 1 2 3 4 5 6 2 1 3 INVEST IN YOUR CYBERSECURITY CAPABILITY ACROSS 7 DOMAINS TO IMPROVE DEFENSES AND STRENGTHEN RESILIENCE. FACING THE CYBERSECURITY CONUNDRUM HIGH PERFORMANCE SECURITY REPORT 2016