Okta and Cyber Insurance

How strong identity can help companies reduce exposure and claims, meet compliance requirements, and increase insurability

Zero trust security and cyber insurance are officially mission-critical

Enterprise risk from cyberthreats like ransomware continues to rise, as high-profile attacks deplete the assets and degrade the reputations of organizations large and small, public and private, cloud-centric and on-premises. Challenges include:

  • Growing frequency, severity, and sophistication in ransomware, funds transfer fraud, and other cybercrimes
  • Increasing complexity with supply chain risks, including vulnerabilities to software and vendor partners
  • Additional risks of hefty fines and penalties from intensifying and fast-evolving privacy regulations 

To effectively counter these expanding threats, companies need to pair strong, identity-based security with intelligent risk transfer and operational resilience planning by engaging cyber insurance providers. In the unfortunate event of a security incident, cyber insurance policies can provide financial support across a range of technical, media relations, incident response, and recovery needs that might arise. 

But even as fear of cyber risk exposure and specific regulatory requirements drive organizations toward enhancing cyber insurance coverage, costs and uncertainty are rising. The increased systemic risk of cyber incidents can be hard for cyber insurance actuaries to quantify, and persistent market volatility is creating new complexities for reinsurance options. Cyber insurers are responding with higher costs and more stringent underwriting requirements, forcing companies to strengthen their identity management and access controls to infrastructure.
 

Strengthen financial security while increasing insurability

Okta’s industry-leading identity management platform helps companies meet underwriter requirements and contingencies quickly. Specific Okta tools strengthen and simplify remote access, centralize identity and lifecycle management controls, secure organizational VPNs, and bolster infrastructure access security, including embedding access policies directly into custom apps. 

With Okta in place, customers can easily authenticate a complex modern workforce, and confidently authorize access with an array of factors that provide flexibility to any organization. This jumpstarts their enterprise journey to the true Zero Trust security that ensures regulatory compliance and reduces cyber insurance premiums.

The Goal of Zero Trust is to make sure that…

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Harden your security, maintain compliance, and transfer risk

Organizations that implement strong, identity-based security posture across their ecosystems are more resistant to cyberthreats, able to simplify efforts to stay continuously compliant, and pay less in cyber insurance premiums. 

  • Strengthen authentication with Single Sign-On (SSO) and Multi-Factor Authentication (MFA), repelling threat actors while keeping employee access frictionless (including passwordless)
  • Centrally manage fine-grained authorization to enterprise assets with Okta’s Universal Directory and Life Cycle Management tools that consider user, device, and location context
  • Extend this protection to the infrastructure layer with Okta ASA and VPN protection tools, securing your expanding enterprise and freeing developers to focus on user experience
  • Get quickly up and running with Zero Trust security everywhere to: reduce corporate risk, stay compliant in the face of evolving regulations, and minimize insurance premiums  

Working hand in hand with leading cyber insurance partners

Okta integrates directly with top cyber insurance solutions like these to help companies be confident in their security posture.