As the cyber threat landscape evolves, identity has emerged as the top target for threat actors. Organizations must now demonstrate their ability to enforce robust security controls, such as implementing multifactor authentication (MFA) and protecting all privileged accounts, to stay ahead of these threats. Cyber insurance plays a critical role in providing a financial safety net, helping businesses recover from the financial impact of cyber incidents. Insurers are increasingly prioritizing companies that can showcase strong security controls, as these measures significantly reduce risk. By demonstrating advanced security controls, organizations not only bolster their defenses but also position themselves for more comprehensive and favorable cyber insurance coverage.

But this presents major obstacles, as many sensitive resources still rely on legacy protocols and IAM infrastructure such as Active Directory that don’t support MFA. As well, protecting privileged machine-to-machine accounts – known as service accounts – is particularly challenging since most companies don’t know about all of them or where they’re being used.