In a joint study, they analyzed how small and medium-sized enterprises (SMEs) can identify areas that need attention and quickly implement solutions to keep digital intruders at bay.
The acceleration of the digital transformation, including emerging technologies, the move to cloud services and remote working, have created new vulnerabilities that can be exploited by cyber criminals using increasingly sophisticated techniques. In 2022, global cyberattacks increased by 38% compared with the 2021 (
For SMEs, managing the complexity of cyber risks can be a challenge due to a lack of resources or know-how. To address this issue, Zurich collaborated with
Zurich cross-checked and validated the controls identified in the study against information gathered from its SME customer questionnaire and benchmarking data from global customer assessments and claims.
10 controls mitigating 70% of the most common SME cyber risks
1. System monitoring 6. Continuous monitoring
2. Con?guration settings 7. Least privilege
3. Malicious code protection 8. Access enforcement
4. Baseline con?guration 9. Account management
5. Least functionality 10. Software, firmware and information integrity
When these technical controls are combined with Zurich's cyber risk assessment and quantification services, SMEs are then able to quantify their cyber exposure, prioritize actions and determine the budget required. Once implemented, Zurich's cyber resilience experts can help validate the effectiveness of the controls through cyber penetration testing services.
Zurich will initially make this solution available to SMEs in
Cyber security starts with strong governance and robust risk awareness. In addition to the new solution, Zurich also provides specialized cyber support services for SMEs to close risk gaps. This includes dark web monitoring, employee training through immersive simulation programs, and assessment and monitoring of potential threats coming from businesses' supply chains.
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