How US & UK-Based IT Companies Can Fulfill Cyber Insurance MFA Requirements

Over the last decade, technology has significantly evolved in the IT landscape and have become more accessible to the mass. Fraudsters with direct access to advanced cyber technologies are causing an exponential increase in cybersecurity threats, which puts approximately 60% of enterprises worldwide at risk of an attack.

In such scenarios, Cyber Insurance policies can provide organizations with peace of mind in the event of a data breach by helping them manage the financial and reputational risks associated with cyber threats But qualifying for a cyber insurance policy is a difficult task for an organization today

According to an analysis of attacker tactics by Microsoft, “Using a second factor can block 99 9% of all attacks ” Hence, the reason why popular insurance providers mandate MFA in their compliance.

Most modern companies are opting for MFA in Cyber Security measures to qualify for Cyber Insurance policies In this article, we will look at the case study of a US-based enterprise in the IT sector and a UK-based Manufacturing company that leveraged the miniOrange MFA solution to strengthen security and comply with a popular cyber insurance policy with more coverage and lower premium while ensuring workforce productivity

VPN MFA Solution Helped US-Based IT Company Comply With Cyber Security Policy While Optimizing Security Costs

- With over 1000 users in a remote setting, the US-based IT company faced the challenge of finding a solution that could provide MFA specifically for 60 accounts with privileged access, while still aligning with their budget to qualify for their cyber insurance policy

- Most solutions in the market would provide MFA for all users, not just for selected users with privileged access. Hence, their quest for the ideal solution led them to discover the miniOrange VPN MFA solution

- miniOrange offered a unique solution that can seamlessly integrate with popular VPNs like CISCO MERAKI, SonicWall, Fortinet, MikroTik, etc. Most importantly, miniOrange provided VPN MFA specifically for the 60 remote users with privileged access, offering a cost-effective solution that aligned perfectly with the organization's budget.

- The company was able to test how the miniOrange solution worked for their organization to comply with cyber insurance regulations with a 1-month free full feature trial/POC

- During the POC, miniOrange helped them with the end-to-end deployment of the solution by setting up Radius Client & Server configuration in VPN, auto-onboarding & sync users from their existing database into miniOrange & providing MFA enrollments with 15+ methods such as OTP over the phone, Push Notification, etc.

- After a successful POC, they invested in the miniOrange VPN MFA solution to improve the overall security posture while optimizing their security costs as well Further, they also invested in miniOrange’s Privileged Access Management (PAM) solution to better manage and further mitigate risks associated with privileged user accounts

Windows MFA Solution Aided UK-Based Manufacturing Enterprise With Cyber Insurance MFA Requirements

- This UK-based manufacturing enterprise adopted a hybrid work model, with employees splitting their time between the office and remote work. To qualify for a cyber insurance policy, they needed to implement Multi-Factor Authentication (MFA) exclusively for remote access while maintaining productivity in the office

- Other standard MFA solutions required MFA challenges even when employees were accessing systems from the office For this unique use case, the miniOrange Windows MFA solution enabled the enterprise to implement MFA for Windows login only during remote access. This allowed them to significantly maintain workforce productivity in the office

- During the POC phase, miniOrange deployed the Windows MFA module on a selected computer & synchronized all Active Directory users with miniOrange for seamless integration

- miniOrange team completed the 2FA setup on Windows logon & RDP sessions. Subsequently, the Windows MFA module was deployed to the rest of the computer systems using group policy, and all the users were automatically on-boarded for 2FA on their first login. This meant that users could access office computers using their Active Directory credentials without facing 2FA challenges, except during remote access

- The enterprise was highly satisfied with the extraordinary support from the miniOrange team during POC and was happy to invest in the solution with a long-term subscription plan

- It's worth noting that miniOrange also provides MFA solutions for various other operating systems apart from Windows, including Linux and macOS

Conclusion

Cyber Insurance MFA is the need of the hour in the present business landscape, where organizations are striving to secure their environments with robust security measures and ensure the protection of their critical assets with Cyber Insurance policies MFA in Cyber Security plays a pivotal role to eradicate modern cyber threats. This second factor or 2FA becomes a game changer during cyber attack prevention, providing companies with peace of mind of knowing that their sensitive data is safe. Also, companies can easily optimize their overall security costs by qualifying for Cyber Insurance policies with lower premiums and higher coverage.

About miniOrange

miniOrange is a leading provider of Identity and Access Management (IAM) solutions with 200+ global partners worldwide including the United States, the United Arab Emirates, the Netherlands, UK, India, Singapore, South Africa, Mexico, Brazil & many more, and having 17000+ satisfied customers worldwide. By empowering businesses with cutting-edge IAM products like Single Sign-On (SSO), Multi-Factor Authentication (MFA), Adaptive MFA, Provisioning, etc , miniOrange helps their clients streamline user authentication, enhance account security & enable Granular Access Control with their revolutionary Enterprise IAM platform miniOrange specializes in providing various security solutions around SSO/MFA on various popular marketplaces like WordPress, Atlassian, Drupal, Shopify, Microsoft, Google, Oracle, Zoom, BigCommerce & many more. By offering a library of 5000+ app integration including web, mobile, legacy & other popular apps, miniOrange is helping organizations to optimize their resources & costs miniOrange products are one of the highest-rated Identity & Access Management software on Gartner Peer Insights and have been ranked #1 on G2 for Best Estimated ROI, Best Support & High Performer multiple years in a row. miniOrange’s presence on Gartner Digital Markets extends from Capterra to Software Advice and GetApp with great reviews all over

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