As cybersecurity threats continue to rise, insurance companies are struggling to find a balance between protecting customers and maintaining a positive bottom line. Sometimes, achieving a balance sees an impossible challenge; however, there are ways that insurance companies can help their clients improve their cybersecurity preparedness.
One area where insurers can help customers is their Intrusion protection applications. Insurers can assist applicants in establishing intrusion detection systems (IDS) that will increase the likelihood of application approval. Understanding what an IDS is and what it can do is a first step in meeting that balancing challenge.
What is an Intrusion Detection System (IDS)?
An intrusion detection system (IDS) monitors network traffic looking for known threats and suspicious activity that could indicate an attempt to compromise the network. Some systems send alerts to IT staff when they detect a possible intrusion attempt; others can initiate responses such as shutting down IP addresses or denying ongoing access. IDS helps mitigate the risks of a network compromise by looking for bad actors instead of waiting for them to attack.
What Are the Types of IDS?
IDS systems are categorized by how they are deployed and how they detect possible malicious activity. IDS can be deployed as a:
- Network IDS. NIDS systems are deployed at points in a network where incoming and outgoing traffic can be monitored.
- Host IDS. Host-based systems install the solution on devices connected to the internet and the internal network. HIDS monitors internal traffic to prevent threats from being spread throughout a network.
- Perimeter (Endpoint) IDS. These applications are placed on an organization's network perimeter to detect intrusion attempts before they spread across the network.
- Virtual IDS. VIDS monitors virtual machine traffic across connected systems and devices.
- Stack IDS. These systems integrate into TCP/IP protocols on private networks to identify malicious packets and remove them before they leave the communications layer.
Intrusion Detection Systems detect possible intrusion activity through signature- or anomaly-based detection methods.
- Signature-based IDS looks at traffic packets and compares them against a database of known threats. If it finds a match, it sends an alert.
- Anomaly-based IDS uses a normal activity baseline, often developed with machine learning technologies, to compare with current behavior. Deviations from the baseline trigger alerts. More advanced solutions can deploy a cyber policy to prevent the behavior from continuing.
Knowing where an organization is most vulnerable can help determine the best IDS solution to help mitigate the risk of a successful cyberattack.
What Do Intrusion Detection Systems Provide?
IDS monitors network traffic, looking for unauthorized activity. A cyber intrusion application helps security professionals by:
- Monitoring devices such as routers, servers, and firewalls to ensure they are available for security controls
- Providing administrators with logs that make understanding network operations easier.
- Including a signature-based database for identifying known threats.
- Displaying data so non-security staff can assist with system management.
- Reporting on unauthorized file manipulation
- Generating alerts when security has been compromised
- Responding to bad actors by inhibiting further intrusion.
As networks become more distributed, opportunities for unauthorized access increase. IDS helps mitigate the risk using established methods of communications that can identify and block intrusion attempts before they have a chance to compromise a network.
How Can IDS Help with Intrusion Protection Applications?
Intrusion detection systems help organizations identify security events. They provide data that can help analyze attacks and direct improvements in security systems. IDS can deliver metrics that help assess risk and can highlight possible vulnerabilities. With the right IDS solution, organizations can reduce the risk of unauthorized access, leading to successful cyberattacks. No matter the type of application, an IDS can help insurers and the insured with:
- Understanding risk. IDS is a tool to help companies identify the number of attacks being attempted. It can determine the level of sophistication to assist businesses in developing countermeasures to mitigate risk.
- Shaping strategy. Knowing the threat landscape enables organizations to establish a comprehensive cybersecurity plan that addresses potential flaws and vulnerabilities. It allows organizations to adapt to the changing security ecosystem before they become a target.
- Maintaining compliance. IDS provides a level of visibility that helps meet regulatory standards possible. The systems collect and save data logs that are essential to delivering compliance-mandated documentation.
Because IDS applications enable organizations to detect and prevent attacks faster than manual monitoring methods, these companies are able to reduce the risk of a successful cyberattack.
Insurers can help their clients receive the intrusion protection they need without weakening their profitability. The more tools companies have to detect and prevent cyber intrusion, the better the odds that they will not incur substantial losses should a compromise occur. With IDS technology, insurers can address the balancing challenge successfully.
To learn how your firm can help identify intrusions and get your insureds cyber apps approved, talk with our cybersecurity insurance team.
