How the Right IT Partner Can Help You Manage Risk
Ensuring your company is compliant with the latest insurance industry regulations is a challenge for many small and medium sized businesses. Achieving compliance involves multiple steps, including:
• Performing a cybersecurity risk assessment
• Devising a comprehensive information security program
• Implementing security awareness training for all personnel
• Vulnerabiltiy assessments and penetration tests
• Encrypting non-public Information
• Filing an annual certificate of compliance
Beyond achieving compliance, you may also grapple with the question of what level of increased security you need based on the risk environment, your risk tolerance, and the costs of additional security measures. For example, a recent rash of insurance industry data breaches can prompt you to consider additional security measures that go beyond those required to achieve compliance.
The limitations of your in-house team
In our experience, the most common response by business owners is “I’ll get my internal IT team to handle this.” However, this can be fraught with additional challenges. In many cases your IT “team” consists of one person. IT talent is scarce across the board and even more so among those that specialize in cybersecurity and IT compliance within the insurance industry.
In addition, your internal IT person is generally occupied with daily tasks from monitoring the network to dealing with help desk tickets. They often don’t have the time or bandwidth to do the heavy lifting of compliance analysis and implementation.
If you are fortunate enough to have a stellar IT person that is cognizant of the latest regulations, you run the risk of putting dependency on this one person to ensure your compliance. And when their career calls them in a different direction, you find yourself with a number of unmet needs that you are left seeking to fill.
Help from an experienced partner
At ICS, our managed IT services offering is customized to meet your business needs and work within your risk tolerance allowance and budget. Here’s how we protect your network and keep you compliant:
• Full team of professionals – ICS is not a one-person shop. We have a team of experienced IT professionals that have performed numerous risk assessments and created recommendations for various price points and risk tolerance levels. We understand the unique nature of your business and provide a tailored solution that best fits your risk environment.
• IT compliance experts – ICS’s expertise with IT compliance allows us to effectively leverage your technology investments to create a compliant, overall security system that meets your budget and goals.
• Leverage economies of scale – With multiple insurance industry clients, ICS is able to utilize best practices across our clients. This makes us extremely efficient in implementing the requirements rather than requiring lengthy lag time while we get up to speed on your business.
Meeting your compliance requirements doesn’t have to be overwhelming. Contact ICS today to get the answers you need to ensure your business is compliant with the latest regulations.