Businesses face a constantly growing problem of cybercrime, which seriously threatens their data, valuable assets and brand standing. This global cybercrime industry is now estimated to be worth $9 trillion and is ranked third among the world's largest economies.
Traditional risk management methods need to be improved to tackle this issue effectively. IT and cyber leaders often need help managing large amounts of data across various teams and platforms, leading to inefficient risk identification, planning and mitigation.
Businesses face the challenge of growing their topline revenue while reducing costs. Unfortunately, investing in cybersecurity is often viewed as a cost centre.
Despite the increasing financial cost of data breaches and cybercrime, businesses must allocate more of their IT budget to improve their cybersecurity.
Due to the financial impact of cyber incidents, the UK cyber insurance market has been rapidly growing. Many UK companies recognise the importance of cyber insurance as part of their risk management strategies, especially in light of high-profile cyberattacks and the GDPR's stringent data protection requirements. This trend is driving demand for more comprehensive cyber insurance products.
However, many cyber insurance policies do not fully pay out post-incident due to non-compliance with policy terms, leaving organisations vulnerable to substantial uninsured losses.
The average tenure for a Chief Information Security Officer (CISO) or cyber leader in the UK is short, as their roles have become untenable due to increasing pressures and expectations. As a result, businesses need to transform their approach to risk controls & mitigation.
Arco Cyber aims to help businesses identify and mitigate cyber risks by turning their data into actionable insights. Arco Cyber allows companies to optimise the necessary investments to increase their resiliency by identifying gaps in protective measures.
The platform uses real-time data and insights to create an ongoing cyber transformation program that businesses can invest in, identifying marginal gains in existing protective measures while planning and prioritising more significant investments.
Arco Cyber provides industry benchmarking and actionable insights to help companies benchmark themselves against their peers. Its automation and real-time work capabilities save businesses valuable time, allowing them to focus on a proactive approach rather than manual data collection and outdated processes that hinder risk mitigation.
Arco Cyber helps ensure insurance policies by focusing on policy term compliance, mobilising data to validate the effectiveness of cyber defences and ensuring alignment with the stringent protection requirements of cyber insurance policies.
Its holistic approach enhances visibility for CISOs, making it easier to manage security data, proactively identify threats, allocate strategic resources efficiently, simplify compliance reporting, and communicate effectively from project teams to board members.
Arco Cyber aims to change the perspective on cyber investments from a business cost centre to a business enabler.
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