Reducing Cyber Insurance Costs with Kron PAM: A Smart Move for Businesses

Apr 18, 2024 / Kron

In the dynamic digital landscape, cyber risks are ever-present. But did you know? The global cyber insurance market is booming, with projections skyrocketing from $7.8 billion in 2020 to an astounding $20 billion by 2025! Cyber insurance has transitioned from a luxury to an essential business safeguard.

Why is cyber insurance crucial?

Financial Protection: Cyber insurance covers the hefty costs associated with data breaches, ransomware attacks, and other cyber incidents, which can average up to $4.45 million.
Risk Management: It’s a key component of a comprehensive risk management strategy, ensuring businesses can recover quickly from cyber events.
Regulatory Compliance: Cyber insurance aids in maintaining compliance with evolving data protection regulations.
Business Continuity: It helps mitigate the impact of business interruptions due to cyberattacks, preserving revenue and customer trust

Here’s where Kron PAM steps in to ease the burden. Our innovative solutions are designed to significantly lower cyber insurance costs while bolstering your business’s security.

Kron PAM isn’t just another Privileged Access Management software; it’s a revolution in cybersecurity. By fortifying privileged accounts, we drastically reduce the likelihood of both internal and external threats, a key consideration in cyber insurance evaluations.

Here’s how Kron PAM stands out:

Centralized Password Management: Kron PAM’s Password Vault ensures that sensitive credentials are kept out of the wrong hands.
Multi-Factor Authentication: Kron MFA Manager has added an extra layer of security, making your accounts virtually impenetrable.
Unified Access Management: Control who has access to your network devices and servers, ensuring that only authorized personnel can make changes.
Database Access Management: Monitor and audit database sessions without impacting the end-user experience.
AI-Based User Behavior Analytics: Harness the power of AI to detect anomalies and predict threats, ensuring a proactive defense stance.

Are you truly safeguarding your organization's digital assets? With Kron PAM, you're not just securing your data — you're showcasing your commitment to proactive risk management. Lower cyber insurance premiums could be within reach, saving your business valuable resources while fortifying your defenses. Don't just protect — thrive securely!