Your InfoSec premiums have increased by 20% this year. Are we worth it?
My annual home insurance quote came through this morning, with the usual 10-20% uplift that I know I can remove again through simply phoning the provider and threatening to leave. It is a pretty standard technique in the industry that has been going on for years, and that preys upon the lazy people in the world who can’t be bothered to look for a better deal.
Rewind a few months when I spoke with a very senior executive who admitted that he saw information security as a form of insurance.
“I don’t want to have to pay for it, but I do because I know that when I need it you guys come and fix the problems we are in”
This is a somewhat common and fair attitude to information security given our background as an industry and how we often interact with the business (a particularly large topic that this entire blog is really about). yet what was so interesting was his follow on comment:
“the things is, I am sure there is so much more information security can do for us, I just don’t know what it is”
When I first took out home insurance, I was most concerned about getting the cheapest quote. I was young, free and almost single, but all of the extras that the larger insurance companies were offering (and charging for) did not concern me. If my house burnt down I would find somewhere else to live while the insurance company sorted everything out, what do I need a hotel for? Lost my house keys? I will change the crappy lock on the front door myself when I get round to it, I don’t need a locksmith from the insurance company to do it for me.
Fast forward to today, and I live a far more complex busy life, cash rich (relatively speaking), time poor, with responsibilities to my children and wife, and a lifetime of memories in my house that are virtually irreplaceable. if things go wrong, I need it fixed quickly and easily and with the minimum of impact to me and my family. I even have proactive services, such as boiler cover and servicing to reduce the likelihood of things going wrong in the first place. Therefore I am leveraging every aspect of what the insurance company can give me even before something goes wrong, and the peace of mind that I get knowing they are looking out for me even prior to disaster striking is worth (almost!) every penny.
An information security programme must be able to sell every aspect of its services to the business, and not just be seen as a reactionary force. if it does that, every time something goes wrong, both the financial and emotional premiums of paying for your services will increase time over time until the point the programme is seen as imply an overhead like paying the rent and keeping the plant watered, i.e. when the time comes, costs to be reduced.
Look at how you provide service before the fact; risk assessments, security testing, awareness and education can all be seen as services that prevent and/or add value to the business. What about the day to day? Consultancy to the business to do things securely without them even thinking about it; it doesn’t have to have “security” written on it to be a win for you and the business. And of course don’t forget after the event; incident management, business continuity, or even helping in the quality acceptance environments after something has been developed.
The key is to be involved in the full lifecycle of your business, whatever they are. They will be different from business to business and industry to industry, so it may not always be easy to identify, but it is extremely valuable.
And the prices we quote every year? Unlike insurance premiums, we are worth every penny.
Note: I don’t actually like the analogy of infosec and insurance, but it is one I regularly hear, so I decided to try and embrace it in this blog. I still don’t like it, but I can see how it could be useful for a simple elevator pitch or short conversation. There are plenty of analogies out there, and the best place for them in my humble opinion is at The Analogies Project. Check them out, and use them wherever possible. Even better, think about becoming a contributor.