How good is the company you keep? The importance of supply chain security to your cyber posture.

Development

Do you know if your supply chain is secure? Is there a chance that your data could be compromised because of a weakness in your supply chain?

While many businesses have taken tremendous strides in recent years to measure and manage the cyber risk present within their own IT systems, they struggle to extend that vigilance to third-party risk.

One significant risk that can have severe consequences is a supply chain cyber-attack. Such attacks can lead to reputation and financial damage, as well as compromise the positioning of products in the market.

Unfortunately, too many businesses today are completely blindsided by downstream impact from ripple events at their third parties. They never see the threat coming because they simply do not have the mechanisms in place to monitor how well their vendors and partners are managing risk in shared or connected systems.

Every time a business adds another third party to their supply chain, they entrust more of their data to third parties. They’re sharing customer data with SaaS providers that help them with analytics, storing intellectual property on public cloud platforms, and openly connecting their internal systems with the networks of technical partners. And the list goes on.

Each of these relationships has the potential to add considerable risk to the business because every third party that touches their data has the potential to compromise them.

As such, the more enterprises build out their digital ecosystems, the more important it is for them to see and manage cyber risks incurred by their third-party relationships.

Investing in third-party risk management cyber technology has become imperative.

If this is something you’d like to explore for your business, drop us a line to arrange a quick call – Martin Hughes: +44 (0) 203 640 9582 or martin@sourceconsulting.london

About Cloud Digital

Source Consulting are the recognised Insurance Partner for Cloud Digital.

“The guys at Cloud Digital are truly innovative and the opportunities that Risk Recon provides to insurers and brokers in relation to third-party cyber risk is a game changer.”

Martin Hughes

Cloud Digital is a team of highly experienced Cyber Security Professionals, with an impressive portfolio of clients that includes HMRC, Law Enforcement Agencies, and various entities in the private sector. Cloud Digital operates within the esteemed Lloyd’s of London market.

Their expertise lies in providing valuable advice on a range of cyber security issues and offering effective solutions. Notably, Cloud Digital enjoys a strategic partnership with Google, having collaborated on numerous projects.


About Risk Recon

RiskRecon, a MasterCard company provides cybersecurity risk ratings to enable better third-party security risk management. By analysing all online assets and generating comprehensive reports, they provide valuable insights into potential weak points, shining an objective light on the cybersecurity hygiene of organisations across the world. This helps their customers understand the cybersecurity hygiene of their suppliers and to take huge amounts of data and narrow it down to the things that represent a true risk, levering that data to quickly identify who’s performing well, who’s not, and where they should allocate their resources toward the greatest risk, and in doing so, get the greatest return on their investments. This non-invasive solution has broad applications, including due diligence in the M&A market, situational awareness, vendor onboarding and automating your vendor assessment process.

About Source Consulting

Are you a start-up, MGA or boutique broker feeling overwhelmed by limited time and resources for effective marketing? Source Consulting can help.

 We offer comprehensive services tailored to your insurance business, focusing on three key areas:

  1. Content and Communication: Craft compelling content and communication strategies across platforms, establishing your brand as an industry thought leader through captivating articles, thought leadership content, videos, and podcasts.
  2. Business Development: Unlock growth opportunities with strategic planning, market research, and competitor analysis, so you can make informed decisions and win dream clients.
  3. Marketing and Media: Stand out with tailored marketing solutions, leveraging email, direct mail, events, podcasts, webinars, and more. Achieve remarkable results and maximise your ROI.

Why choose Source Consulting?

1. Experience: With years of experience in the insurance industry, we understand its intricacies and challenges. Our expertise allows us to develop customised strategies that yield tangible results.

2. Results-Oriented Approach: We are focused on achieving your specific goals, whether it’s increasing website traffic, generating quality leads, or driving revenue growth.

3. Tailored Solutions: We recognise that every insurance business is unique. So we offer personalised solutions that align with your objectives, ensuring maximum impact and value.

Stay ahead in the competitive insurance industry by partnering with Source Consulting for accelerated growth. Don’t miss out on opportunities or settle for leaving money on the table.

Take the first step towards transformation and growth by contacting Martin Hughes today at +44 (0) 203 640 9582 or martin@sourceconsulting.london

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