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PATECCO Will Exhibit as a Golden Sponsor at “IT for Insurances” Congress in Leipzig

For a second time, this year, the Identity and Access management company PATECCO will take part in “IT for Insurance” (IT für Versicherungen) live Trade Fair in Leipzig, Germany. The event is planned to take place on 24.11 and 25.11.2020.  It is known as the leading market place for IT service providers of the insurance industry with a focus on the latest technological developments and IT trends. The congress unites all exhibitors, speakers, trade fair visitors and gives the opportunity to socialize, exchange experiences and discuss current trends and projects in the IT industry.

During the two days of the event PATECCO will exhibit as a Golden sponsor and will present its services portfolio. Besides, the sales manager of PATECCO team – Mr. Karl-Heinz Wonsak will be a presenter of the company’s innovative solutions in the so called “Elevator Pitch.” The topic will be about insurance supervisory requirements in IT and cybersecurity.

PATECCO will have a counter where its team members will welcome each visitor who is interested in Identity Access Governance IAG, Privileged Account Management PAM, Security Incident and Event Management SIEM, Funktionale Taxonomie, Managed Service, Management und IT-Consulting and Cloud Access Control. Each one, who looks for solutions in these specific areas, will be invited in a personal meeting where all details will be considered. The IAM company will also provide a coffee counter with a professional Barista and each coffee-lover can enjoy a cup of aromatic Italian Espresso.

PATECCO is an international company, dedicated to development, implementation and support of Identity & Access Management solutions. Based on 20 years’ experience within IAM, high qualification and professional attitude, the company provides value-added services to customers from different industries such as banking, insurance, chemistry, pharma and utility.

Its team of proficient IT consultants provide the best practices in delivering sustainable solutions related to: Managed Services, Cloud Access Control, Privileged Account Management, Access Governance, RBAC, Security Information and Event Management, PKI and Password Management.

PATECCO Launches a New White Paper About Identity and Access Management Solutions in The Era of Digital Transformation

As more and more organisations around the world move from on-premises software to on-demand, cloud-based services, there is a greater need for control around who can access what and when they can do so. Identity and Access Management (IAM) is a framework of business processes, procedures and technologies used to manage and control digital identities. This the reason why IAM should be a key priority for any business executive looking to make big technology investments and should be part of all digital transformation strategies. This is especially true if your organisation wants to make the most of modern business solutions and mobile ways of working.

To help you on your IAM journey, we’ve created an IAM White Paper. It presents in details why IAM is one of the cornerstones of digital transformation success and highlights everything you need to know to sucessfully find an IAM solution that matches your business needs.

Some of the main topics covered in our latest eBook include:

  • The Role of Identity and Access Management in Cybersecurity
  • Why Identity and Access Management is so Important in preventing data breaches
  • Which Key IAM Capabilities Successfully Support Remote Work
  • Key Aspects of an Identity Access Management (IAM) Strategy

Interested? Download our free Identity and Access Management eBook today.

Click on the book below to download the content:

Key Aspects of an Identity Access Management (IAM) Strategy

The components and functionalities of identity and access management bring a lot of benefits to all users who are involved into the organisation’s ecosystem, no matter of the business sector they belong to. Before engaging yourself to an IAM project, it is critical to determine and to have a long-term vision of your IAM strategy. This initiative is much more effective and profitable than having to assemble various solutions that may not be appropriate or not always well integrated.

A clear identity and access management strategy is fundamental for organisations to operate effectively. It will guarantee secure access to the information system, ensure compliance with regulations, reduce a large number of operating risks, improve productivity and the quality of service delivered to users. Many organisations’ failures prove that fact that the lack of expertise and effective identity and access management strategy can led to risky implementations and expensive mistakes. This is the reason why many organizations look for experienced service providers for assistance.

Building an Identity and Access Management Strategy

1. Discovery Is the First Step

The first step in developing an IAM strategy is to gain a thorough understanding of the customer’s current state. This step is crucial, because an accurate picture of an organization’s current state helps to create a more realistic strategy and results in successful project implementation. There are three ways to develop a better understanding of the customers’ current environments, needs, and goals.

  • Understand the How. To better prepare and develop context before beginning a project, you should search for specific artifacts and documents that help understand how the organization functions. That could include any existing IAM policies and procedures, IAM architectural diagrams, relevant audit findings, and an overview of the network and server environments. It is also helpful to get to know the current technology elements: which are the main applications and systems being used, and how they are set up and customized.
  • Understand the Who. Developing a demographic profile of the organization is also very important, i. e – how many users there are, what is their location, and who gets access to what. Viewing the structure of the organization is also essential: who approves access requests, which users are employees or non-employees, and how HR interacts with the existing IAM process.
  • Understand the Why. Understanding the drivers for an organization’s IAM project is pivotal for the project’s success. It ensures that leaders are on the same page about their reasons for investing in IAM, sets clear expectations for the project’s outcomes, and helps champions justify the project internally.

2. From Discovery to Deliverables

When the discovery process is finished, the next step is to conduct an analysis of what you have collected as an information. For some companies, this means a roadmap and a strategy, but others might need a competitive assessment, an IGA recommendation, or advice on the best way to handle role-based access. Here are some examples of the deliverables that can be provided:

  • Architecture. A smart approach is to develop a map that captures how IAM currently functions at the organization and represents all the systems, architecture, tools, users, and connectors. This map should accurately reflect the organization’s environment, processes, patterns, and challenges. On the basis of this “big picture” of the organization’s current state, an architecture that reflects the ideal state could be created.
  • Roadmap. The roadmap describes the actions which companies need to take to get from A to B, and helps companies prioritize these actions and put them in the appropriate order.
  • Tool Recommendations. With a clear understanding of the customer’s requirements and extensive knowledge about the best tools for every situation, the needs to the appropriate vendors could be properly matched.

3. Perform a comprehensive audit

Another significant step is to perform a comprehensive audit of current practices so that you know exactly what types of systems or processes are used by employees to share and transfer information. You may find out that people in your organization are subverting security controls to get their work done. It’s a common issue that can help you build a stronger access management structure.

4. Develop IAM Governance Procedures

It is very important to ensure that risk management and compliance guidelines are followed consistently throughout the company. That could be verified by efficient provisioning and de-provisioning procedures. Besides, the privileged accounts should be handled with care. Compared with accounts for regular users, these accounts can have almost unlimited access to sensitive data, applications, and devices. You should strike a balance between access and security by following the guidelines of least privilege. When users need elevated privileges for a specific task, it is recommended to grant access for a limited time using unique credentials.

5. Compliance is a top consideration

Its crucial to ensure that compliance guidelines and risk management are incorporated into the identity management strategy. Privacy management and data access governance is an important aspect of IAM. It controls who is capable of accessing user data and how they can share or use it. This ensured that organizations meet the growing requirements of changing industry and global data privacy regulations like the General Data Protection Regulation (GDPR).

6. Add Cloud-based IAM to Your Arsenal

If you are looking to the cloud for greater efficiency and easy scalability, cloud-based identity and access management services can be part of your IAM plan. Identity and Access Management-as-a-Service (IDaaS) simplifies even the most complex user management challenges. These systems exist in environments defined by strict access with regular monitoring and security for both IT and physical assets. Scheduled backups and data recovery plans prevent catastrophic losses. Further, the access control measures are certified to industry standards with frequent audits. You can meet necessary audit requirements by leveraging existing security certifications rather than investing talent and resources within a similar internal plan.

IAM projects are complex, that is why a defined strategy for success is required. Without a good IAM strategy, analysis and planning the projects usually fail. A successful IAM strategy balances security requirements with employee and customer experience and communicates these goals effectively to executives.

PATECCO is your partner through all phases of IAM strategy: Our practice is to work closely with your technology management and business leaders and to consult you for the sequence of projects needed to make your strategy a reality. Whether you would like to implement a new IAM strategy or update an old one,our consultants can offer their professional support to successfully build up your IAM strategy.

Best Practices for Role Based Access Control (RBAC)

In organizations that have major divisions, creating a role-based access control system is essential in mitigating data loss. Role-based access control (RBAC) is already a proven concept in IT systems, which is realized by many operating systems to control access to system resources. For the last 25 years, it has become one of the main methods for advanced access control.

Basically, what RBAC does is to restrict network access based on a person’s role within an organization. The roles in RBAC are related to the levels of access that employees have to the network. That means that they are only allowed to access the information needed to effectively execute their job tasks. Access can be based on several factors, such as authority, responsibility, and job competency. As a result, lower-level employees usually do not have access to sensitive data if they do not need it to fulfil their responsibilities. This is especially helpful if you have many employees and use third-parties and contractors that make it difficult to closely monitor network access. Using RBAC will help in securing your company’s sensitive data and important applications.

Why RBAC matters?

For many organizations which are divided into multiple departments and have their own set of dedicated employees with their own computers, the role-based access control system is the best solution for enhanced security. With role-based security, administrators can achieve both optimal data protection and user productivity by granting varying levels of permissions to users based on their role. As a result, only the authorized users can easily access information pertaining to their department and specific function and the access to all other company data remains restricted.

Best practices for implementing RBAC

Managing and auditing network access is crucial to information security. With hundreds or thousands of employees in the enterprise, security is more easily maintained by limiting unnecessary access to sensitive information based on a user’s established role within the company. That is why implementing role-based access control across an entire organization is important, but at the same time could be complex. To successfully implement RBAC, you should follow these best practices:

  • Develop an RBAC Strategy

To create a strategy you should start with an assessment of where you are (data, process, policy, systems). The second step is to define your desired future state (automated provisioning of access through RBAC for a set of apps and systems), and at the end to identify your gaps that must be addressed (data quality, process issues, different authentication/authorization models across systems).

  • Scope your implementation

In case you do not necessarily have to implement RBAC across your entire organization right away, it is better to consider narrowing the scope to systems or applications that store sensitive data first.

  • Role classification

The primary step to provide role-based security is to assign roles. This can be done by distinguishing between the various users within the business and their diverse functions. Usually, these roles are based on the job titles that fall under major divisions such as finance, marketing, human resources, etc. Administrators should also provide a name and a description for each role-based access control policy that they create. For easy categorization and tracking of these policies, you can name them by the job title they apply to, and in the description, you can specify the department as well as other important details about this role.

  • Build policies related to a role

After a policy is named and its description is filled in accordance with a role, the settings can be configured. First, the devices that belong to the more prominent users who have administrative or executive roles can be added into the whitelist. These devices can be granted increased mobility when it comes to accessing various information across their department. Then, for the majority of the other employees, their devices can be given read-only permissions or delegated specific rights to access only the information critical to their job requirements while access to all other data remains restricted.

  • Modify policies and user privileges to stay updated

Since there is always a constant influx of employees, no matter they are new or come from other departments of the organization, their devices should be categorized as trusted or blocked, and their computers should be inserted into a custom group. This best practice also applies if existing users obtain new equipment. This proactive approach ensures that device and file control policies are enforced right from a user’s introduction and through the rest of their career in the company. In this way their activities always remain monitored, and the opportunity for data loss is eliminated.

  • Roll out in stages

A useful practice is to consider rolling out RBAC in stages to reduce workload and disruption to the business. You can begin with a core set of users and coarse-grain controls before increasing granularity. Then proceed collecting feedback from internal users and monitor your business metrics before implementing additional roles.

PATECCO Customer Success Story

Integrating One Identity, Service Now and Microsoft Azure.

Situation: А German energy supply and solutions company, has a started a project for the implementation of a PAM solution. They have chosen One Identity Safeguard as PAM tool. This innovative privileged access management solution provides a secure way to store, manage, record and analyze privileged access. It combines a secured and hardened password safe, and a session-management and -monitoring solution with threat detection and analytics.

The Challenge: The energy company has also an Azure Environment as part of their IT Infrastructure. During the implementation some challenges appeared – they wanted to get the Configuration Items (Server objects) to be integrated into the Safeguard solution. The sources of these CI`s were two – ServiceNow and Azure Environment. The customer’s requirement was to have our Event Based Interface to these two source systems. In this way the energy company has achieved its main goal: automation of the Data import to the Safeguard solution which leads to less human administrative interaction with the System. Before the Interface, Objects were manually imported which resulted in less efficiency and productivity.

Response:  PATECCO responded, drawing on 20 years of professional experience in IAM and PAM field. Its team of proficient IT experts provided comprehensive solution based on the latest technologies. The first step was to create a strategic plan and then to build an Event Based Interface, using the Safeguard API to get the Configuration Items into the system. Both Interfaces are using state of the art technology for the Microsoft Azure Technology Stack. The Interface works roughly like:

  • When a new Server Object is created in the Azure Environment or in the ServiceNow Configuration Management Database (CMDB) this Server Object will also be created in the Safeguard PAM Solution.
  • The same mechanism applies to any modification of Server Objects.

Results: In just a few months, the energy supply and solutions corporation has achieved major results related to less manual interaction and elimination of human errors. The Event Based Approach makes sure that only Server Objects are processed which are recently created or modified, instead of always process all Server Objects. In its work with PATECCO, the energy company will continue to emphasize on the technical, organizational, and financial benefits related to saving time and money, better scalability, minimized incidents of human error and the most important one – secure and controlled access.

Why Identity and Access Management Is So Important In Preventing Data Breaches?

For better optimization of efficiency, agility, and to drive greater collaboration, it is essential for the enterprise to be able to share information, resources, and applications with external value chain partners in a trusted way. This article explores how Identity Access Management (IAM) provides the policies and processes for ensuring that the right people in the company have the right access to secure resources, at the right time, while improving security, productivity and visibility.

  • Identity Is Core To Data Security

In the era of globalization, enterprises are undertaking significant digital transformation initiatives to integrate more applications and automate processes to increase productivity and innovation. These initiatives frequently involve the integration of information technology with operational technology, even bridging security domains, through direct integration with value chain partners. Digital transformation initiatives deliver significant value, but potentially put more resources at risk and increase the enterprise security threat surface.

Moreover, enterprise managers require visibility into the organizations and must be able to delegate administration of people and resources to trusted individuals within the supplier organization if they want to have the agility they need. At the same time, they must be able to govern those external users are authorized to do. This practice requires regular processes where delegated administrators attest to users’ validity and the resources to which they have access for a complete audit trail and to ensure compliance.

At its core, Identity and Access Management  ensures that a user’s identity is authenticated to a high degree of assurance, and that the user is authorized to access the right services he or she needs. So, Access Management solutions provide authentication and authorization services and enforce user access policy to a company’s employees and customers across the web, mobile apps, and other digital channels. According to Data Breach Investigation Reports, 80% of data breaches involve compromised or weak credentials, and 29% of all breaches involve the use of stolen credentials. That means that passwords are the main point of vulnerability and the more frequently you have to request or change access for lost or forgotten passwords, the larger is the risk for your personal and professional data to be hacked.

When applied properly, advanced Identity and Access Management tools can help detect suspicious activities quickly whether they are committed by external or internal criminals. In fact, insiders who have highly privileged access pose the greatest risks as they may be disgruntled or have financial problems, therefore have the incentive and opportunity to commit a perfect crime. Highly technical users who have privileged access can also cover their tracks by modifying system logs. Sometimes, users also make mistakes and errors which can also be mitigated with IAM capabilities such as Multifactor-authentication and Role-based Access Control.

Products like Microsoft Identity Manager (MIM 2016) is able to synchronize identities between directories, databases and applications, which means that employees’ identities are managed wherever they are working from. It also provides increased admin security with policies, privileged access management and roles. This, combined with Microsoft’s Azure Active Directory (AAD) technology, provides additional cloud based self-service capabilities, secure remote access, single sign on, and multi-factor authentication.

How Can IAM Practices Prevent a Data Breach?

  • Automating the access privilege provision

For every new employee addition, you should assign all the privileges based on their roles and business rules. It’s better to have workflow automation. Besides, for every employee resignation or termination, you must ensure that all the privileges will be taken away automatically. This practice will help in limiting and preventing unnecessary privileges.

  • Privileged User Management

Basically, the organized attacks target the privileged accounts of the organization. Once a privileged account gets compromised, it increases the chances of a massive security breach. Social engineering and phishing attacks are some common ways of tricking privileged users in sharing their passwords. Such attacks can remain undetected for a long period and that is why it is recommended to implement privileged user management. Any access considered privileged should be assigned to a separate account within the system for which the access is granted, and such accounts should be assigned to the user after an appropriate review of the user’s duties and justification for both the privileged account and the specific access. Any privileged access defined or granted should be limited in both scope and the number of users to which it is assigned and tailored to the needs of the business.

  • Account and access reviews

A useful practice is to conduct Account and access reviews. This can be done periodically in smaller companies and even in larger companies, as well. For example, if a user changes jobs, you should trigger an access review based on changes in the user’s job code or department code. Access reviews can also be based on risk, or when users request certain types of access, i.e., conduct a review of all of user’s access if the user requests domain administrator access, or if a user’s risk score reaches a certain level. Access reviews should be done either by the entitlement owners, or the current manager.

  • Entitlements warehouse

It is a good approach to set up an entitlements warehouse, which identifies all the entitlements in all the systems within the organization, who is assigned to those entitlements, and includes risk rating and privileged access flags for each entitlement. The entitlements warehouse can also be used to conduct peer analytics to identify unusual patterns of entitlement assignments based on entitlements assigned to other users with similar job functions, or assigned to users in similar or the same department.

  • Compliance

Another reason why Identity and Access Management is important in preventing data breaches is because organizations must comply with increasing, complex and distributed regulations, and they must ensure and demonstrate an effective customer identification process, suspicious activity detection and reporting, and identity theft prevention. Identity and Access Management solutions can be leveraged to manage various regulatory requirements such as having a Customer Identification Program (CIP), Know Your Customer (KYC), monitoring for Suspicious Activity Reporting (SAR), and Red Flags Rule for identity fraud prevention.

Identity and Access Management is regarded as complex and critical solution in managing security risks. Although technology is an important part of identity and access management which can be leveraged to support an organization’s cybersecurity objectives and strategy, effective IAM also requires processes and people for user onboarding and identity verification, granting and removing access, detecting suspicious activities, and keeping unauthorized users out of the systems. IAM can help organizations achieve operating efficiency and optimal security through advanced technology and automation such as adaptive, multi-factor, and biometric authentication.

PATECCO PAM Best Practices In a Nutshell

Nowadays Privileged Access Management remains a crucial element in the security infrastructure for all organizations as it offers solutions and benefits useful for defence against data threats. With Privileged Access Management, companies can solve all potential dangers that might target their data.

For the past several years, PATECCO developed high skills in implementing PAM solutions, describing and designing necessary processes, and connecting systems to these solutions. Here’s why PAM should come first for any business.

For more information about PATECCO PAM Best Practices, check out our PAM Whitepaper.

What Are the Key Benefits of Managed Services for Your Business

In today’s highly competitive and technology-focused age, businesses can progress or fail depending on the quality of their IT infrastructure. Companies of all sizes place a priority on operational efficiency, but not all businesses are well equipped to maintain this efficiency. Large and small companies need technology to operate effectively and the more the reliance grows on IT every year, the more evolve the means to support it, as well. There is a negative trend showing that the small businesses (especially these ones with limited funds) do not have the resources to effectively manage their ever-growing networks. Small IT teams quickly become overwhelmed with the amount of work necessary to keep everything up-to-date and running smoothly. That places the company’s system at risk of an outage or breach. For many businesses the solution is a managed IT service.

With reliable managed services in IT, business owners no longer have to worry about data loss or computer problems, because they are handled by experts and relieve owners to worry about what really matters to them – developing the business and making revenue. Let’s take a look at the essence of managed IT services, how they differ from other solutions and what their overall benefits are.

1. Professional and fast support

We all know it: time is money. IT problems disrupt productivity and projects. And time spent struggling to solve IT problems is money down the drain. When you use a managed IT service, you will not have employees waiting for someone to resolve their technical problem. Instead, you’ll be able to immediately access a tech support expert who can figure out the problem and get your business back on track.

2. Scalability

Given the rate of technological advancements and the fact that businesses need to scale resources up or down on demand, scalability is vital to supporting business growth and development. As a company expands, it should anticipate unexpected hurdles, one being when technology requirements outgrow available resources. MSPs will supply support and services as needed to handle growth spurts or emerging IT problems.

Because scalable solutions can accommodate rapid changes, they also help firms stay productive, improve system availability and eliminate detrimental downtime. Additionally, MSPs will address their clients’ technical pain points and remain responsive to their short-term and long-term needs.

3. Cost Savings

One of the greatest advantages to partner with a managed service provider is its great cost-effectiveness. With managed services, organizations can reduce operational costs, conserve capital budget and lower IT operating expenses, as well.  When you have a managed IT service, you’ll be paying the same amount regardless of how much support you need each month. This means you’ll know exactly what to budget and exactly what service you’ll receive, allowing you to be more flexible when investing in other areas of your business. And keeping an eye on your costs is simpler than ever.

Clients receive a service level agreement (SLA) that’s customized to their company’s precise needs, allowing them to efficiently manage hardware and software, increase productivity and reduce the total cost of application ownership.

4. Network Security

Perhaps the most significant asset to any business is the assurance of cybersecurity. You should not allow stolen data to result in a loss or damage your brand. Instead, you can receive the software and support you need to protect yourself against any potential threat. At PATECCO, we can offer a few additional benefits to keep your data secure:

• Constant remote monitoring and generation of relevant reports to inform you on the state of your systems

• A complete supply of compliance assistance, risk assessment and correlation analyses to keep a steady overview of network activity

• Notifications of maintenance requirements and security alarms

• Active prevention of unauthorized network access

Never underestimate the value of reliably managed network security. With our experience and dedication, you can trust your data is safe and the health of your system is consistent.

5. Cloud Computing and Data Backup

Until recently, the cloud was not nearly as relevant as it is today. However, companies are increasingly relying on web-based platforms to store and manage their data. Instead of than having cloud infrastructure management demand too much of your IT team’s time, allow a reliable MSP to take over the job. Doing so provides you with increased functionality and administration of your shareable content, backups of your information to prevent an accidental loss of data and maintenance of safe operations to guarantee easy accessibility for your staff.

6. System centralization and constant visibility

MSPs help centralize your network applications and servers into a single data center. This centralization allows for faster speed and increased accessibility from all staff, regardless of their location. With a centralized system, access to your company data improves, allowing your employees and executives greater access. The system also facilitates secure mobile and web access points so your staff can continue to work on the go.

7. Increased productivity

Having in mind the advances in network security and the MSP proactive approach to addressing potential risks, you can almost guarantee you won’t have to deal with the system failures and shutdowns that can hinder company progress. When you have less technology-related frustrations, your teams will be able to focus on their work and achieve a higher level of productivity and efficiency.

Living in a time of innovative technological developments, waiting for problems to arise and systems to fail before taking action is no more a viable option. Our increasing dependence on automated systems and digital databases means technology outages can have a great negative impact on business operations. If a network goes down or an email server is inaccessible for periods of time, the loss in productivity and revenue could be devastating. Due to these higher stakes, the need for security and qualitative support to prevent system failure and to catch potential issues before they happen is crucial. This is the reason why IT managed services are critical for filling your organization’s security gaps.

MSPs have a more significant incentive to provide long-lasting repairs and provide better service at competitive rates. If your daily operations depend on reliable IT, bringing an MSP on board may be the best decision you can make.

The Benefits of Using a SIEM to Strengthen IT Security

Modern businesses have built IT infrastructure to conduct their regular activities. On one hand, IT infrastructure allows organizations to become more streamlined and productive, but on the other hand, there is a persistent challenge that all businesses must face: cybersecurity threats and incidents. Slapping up some firewalls and subscribing to an antivirus software are old-fashioned methods to effectively secure the enterprise, that is why businesses apply more dynamic method of managing the security of their IT infrastructure: Security Information and Event Management (SIEM) software.

SIEM is a software solution that aggregates and analyses activity from many different resources across your entire IT infrastructure. By combining SIM (security information management) and SEM (security event management), the tool aims to aggregate log data across users, machines, and servers for real-time event log monitoring and correlations to find security threats and mitigate risks in real-time. Whether to protect health IT infrastructure or financial information, or prevent threats and data breaches, SIEM has become increasingly crucial.

What are the features and functions of a SIEM?

SIEM tools are an important part of the data security ecosystem. They aggregate data from multiple systems and analyse that data to catch abnormal behaviour or potential cyberattacks. SIEM collect ssecurity data from network devices, servers, domain controllers, and more.  At its core, SIEM is a data aggregator, search, and reporting system. SIEM gathers immense amounts of data from the entire networked environment, consolidates and makes that data human accessible.

Gartner identifies three critical capabilities for SIEM – threat detection, investigation and time to respond, but there are other features and functionality such as basic security monitoring, advanced threat detection, forensics & incident response, log collection, normalization, notifications and alerts, security incident detection and threat response workflow.

SIEM Benefits that enhance the IT Security

Dismissing the SIEM importance could lead to long-term cybersecurity problems. The benefits of SIEM are numerous, but in the article will be listed some of the most popular ones which enterprises enjoy and utilize to ensure a secure network and efficient business processes.

1. Compliance

Every business, in every industry, requires the fulfilment of at least some regulatory mandates. Enterprise which does not follow the compliance requirements could suffer problems such as loss of consumer consequences, loss of sales, and the legal costs of resolving lawsuits.  

SIEM solutions often provide out-of-the-box report templates for most compliance mandates such as HIPAA.  Through its compliance capabilities, SIEM helps enterprises patch their IT environments and helps to regulate third-party access. Both could represent security holes and compliance failures if not properly secured. Furthermore, your SIEM solutions can use the data it collects to help fill those templates, saving your security team time and resources.

2. Threat Detection and Security Alerting

When talking about cybersecurity, one of the key benefits of SIEM is its threat detection and security alerting capabilities.

First, SIEM often connects your enterprise and IT security team to multiple threat intelligence feeds. They keep your enterprise up-to-date with the latest information on cyber attack evolution and the most pressing threats facing businesses similar to yours. Thanks to this knowledge, you can accurately secure your enterprise against the most likely digital threats.

Then, after your SIEM solution aggregates and normalizes the data, it can analyse it for potential threats through security event correlation. When your solution detects a correlated security event, it immediately sends your IT security team an alert prompting an investigation. This allows your team to concentrate their efforts on specific potential problem areas and to recognise whether your enterprise suffered a breach. After that, they can run your incident response plan and remediate the threat as quickly as possible, reducing the damage you suffer.

3. Improved Efficiency

SIEM tools can significantly improve your efficiency when it comes to understanding and handling events in your IT environment. With SIEM tools, you can view the security log data from the many different hosts in your system from a single interface.  SIEM tools also include automated mechanisms that use data correlation and analysis to stop attacks as soon as they are detected. These capabilities enable SIEM tools to stop attacks while they’re still in progress and to contain hosts that have already been compromised, thus reducing the impact of a security breach.  By responding quickly to perceived events, SIEM tools can help you reduce the financial impact of a breach – as well as the amount of damage that occurs in the first place.

4. Data aggregation and visibility

Visibility into your entire IT environment is one of the greatest benefits of SIEM. This visibility goes hand in hand with the way that logs are normalized and correlated in a SIEM tool. No matter the size of a business, there is a variety of different components in the IT environment, each of which is generating, formatting, and sending huge amounts of data. Not only are these components producing tons of data, they are likely each doing so in different ways. Trying to make sense of all that data manually is a nearly impossible task, and one that would necessitate devoting a huge amount of time and energy to a job that can easily be automated.

This is the reason why the SIEM capabilities that relate to data aggregation and normalization are so beneficial. The SIEM tools not only collect and store the data from the security tools in your IT environment in a centralized location, but they also turn them into a uniform format so you can easily compare the data.

5. Case Ticketing and Management

Identifying security incidents is not helpful if that is not followed by investigation, tracking, resolution and root-cause analysis. SIEM facilitates incident ticketing and management which makes it easier to not only drive problem resolution, but also to maintain a case record so that recurring problems are identified for deeper and more conclusive troubleshooting.

6. Change Intelligence

In most cases security events are a result of a major change such as an upgrade made to an existing system or the replacement of a business application with a new one. For that reason SIEM provides granular change intelligence that detects both planned and unplanned changes to network, server and application configuration. This ensures that both operational and security outages can be tackled proactively.

All the organizations, regardless of their size, need to undertake cybersecurity measures to ensure the safety of their digital assets. In times when cyber-attacks are becoming more advanced, the companies should constantly strengthen the organization’s cybersecurity posture. Companies should also realize that any attack on their IT infrastructure can cost them not only data loss but public trust and reputation, as well. To avoid this situation, cybersecurity has become a vital part of any organization. When combining Security Information Management and Security Event Management capabilities in a single solution, SIEM helps security analysts to achieve threat detection, response, security incident reporting, and compliance ability. All these capabilities make SIEM an essential part of a modern cybersecurity strategy.

Eight Reasons Why Insurance Companies Should Move to Cloud

The Insurance and financial services industry is in a state of continual transformation. Rapidly evolving customer expectations, rice of digital platforms and increasing regulatory demand and Data privacy, requires a swift response from Insurance companies to ensure profitable sustenance. To function effectively in a customer-driven environment, business agility has emerged as a key imperative for all industries including Insurance. Cloud is disruptive technology that can help organisations gain the required agility as they strive to reduce costs, drive innovation and streamline operations. Cloud eliminates the need for heavy infrastructure investments and offers flexible operating models which enables the business to enhance its agility and increase its market responsiveness.

Recent threats and frequent cybercrimes have provoked the insurance sector, dealing with large amounts of sensitive data, to be at the forefront of integrating cloud technology into their digital eco system. It enables insurers to reuse their IT resources more efficiently, reducing the cost of acquiring and maintaining infrastructure. Cloud based platforms, storage and applications change the way of creating and delivering their products and services, managing risks and claims, collaborating with partners, and communicating with customers, agents and brokers.

The main reasons why insurance companies use Cloud-based solutions include different factors such as security and flexibility, rapid provisioning, better asset visibility, and robust data governance facilities. But that’s not all – let’s have a look at some of the top reasons for of cloud adoption in the insurance industry:

1. Improving operational efficiency and performance

Private cloud improves the operational efficiency and performance of the insurers by ensuring data security and accessibility to its employees in low risk and efficient way. While public cloud helps insurers to reduce cost by ensuring the availability of data and services to the customers and external networks. Cloud is much more than infrastructure, insurers are now exploring the levels to which cloud can lead to. Starting from infrastructure to platform to process, cloud expands its opportunities in business process solutions such as claims and expenses processing, managing a whole business process unlike traditional BPO.

2. Improving speed to market

Having in mind the greater pressure to reduce the time to market for new products and services, insurers can use insurance-based cloud computing solutions to deliver greater IT agility and shorter project implementation time. Cloud‑based benefit enrolment systems can thoroughly automate the enrolment process to support real-time pricing and validation of eligibility, allowing insurers to deliver a more convenient and personalized way to shop for benefits.

3. Faster Deployment

Unlike the traditional IT services Cloud computing takes a short time for deployment. It allows businesses to leverage their services and functionalities in a short time. Cloud has more than sufficient resources available at its disposal to allow for multiple tenants in the shared environment. These resources are always scalable.

4. Simplified Access

Simplified access is one of the most vital reasons of using the cloud-based system. The insurance companies, while leveraging the cloud-based solutions, could gain immense benefits. With Identity and Access Management, the companies can enjoy a single sign-on facility that makes the working easier and simpler. Furthermore, all the user’s access rights are controlled by their status and as soon as someone leaves the organization, his or her accessing rights are be removed automatically.

5. Advancing business growth

Cloud-based services offer the users a more holistic view and help them to understand consumer needs better. Cloud-based solutions can provide better social listening and higher conversion rates from opportunity to sale through targeted campaign management and improved opportunity and lead engagement models. This could result in higher cross-sell, upsell and retention rates. Cloud can also enhance the claims experience by providing better service and better communication with end customers.

6. Driving customer centricity

In addition, cloud technologies drive customer centricity with data unification, allow products and services reach market faster and improve the renewal process with external systems. Insurance brokers have the opportunity to embed broker management system modules to advise insurance to customers through various websites and portals. Cloud based collaborative tools allow advisors to answer questions on products and services round the clock and independent of geography. Besides, it encourages unified interactions within the distribution channel.

7. Effective Innovation

Nowadays every insurance company wants to innovate and offer new things to outpower other agencies. In such a situation, cloud-based solutions could help them to stand out from the competitive market by fitting and meeting the emerging needs of the customers. Furthermore, with the cloud-based systems, the insurers could quickly test and deploy new technologies and robust solutions very efficiently.

8. Streamlined Operations

Thanks to the reliable features and functionalities, Cloud-based solutions help the insurance agencies to reduce their overhead costs and streamline their business operations. The insurers could seamlessly free up the room in their budget and could help the employees to focus on other vital things. Whether you the insurers virtually communicate with their customers, or deploy new systems, cloud computing always makes sure that all these functions are quicker and more comfortable.

As a conclusion, we can say that cloud computing has become an essential aspect of the global environment, because it helps the companies to secure not only their data from breaches and cyber thefts but also provides flexibility in managing that valuable data. With cloud computing, the insurers could seamlessly identify new trends and could deploy new systems satisfying the emerging customer needs.