14 February 2020

Cyber security package for small business endorsed by government

A new cyber security product designed to help small businesses and released in partnership with Gallagher has been selected by AustCyber for government funding. BrAin box, a plug-in device that uses artificial intelligence to monitor a business’s computers and systems, is one of 17 recipients of almost $8.5 million from AustCyber to boost Australian cyber security.

“It’s great to see Australian companies partnering with domestic and international corporates within the broader ecosystem,” says AustCyber Chief Executive Office Michelle Price.

Small businesses are particularly vulnerable to cyber attacks, accounting for 61% of cyber security breaches in 2019, according to the Verizon Data Breach Investigations Report. They don’t recover easily either, with 60% of small business victims going out of business within six months of an attack. The cost of remediating a data breach is also climbing, while attacks are becoming increasingly sophisticated.

Globally a cyber attack is launched every 39 seconds, through new interfaces and vectors, making reliance on firewall protection uncertain in the long term. Some malwares have been evolved to enter through supposedly secure channels and to be undetectable within the system.

“In the continually evolving world of cyber attacks and defence, even with the best security, breaches are not reliably preventable. The focus instead needs to be on the ability to detect and counteract weaknesses or intrusions – and it’s this visibility that brAin box provides.”

Robyn Adcock, Cyber/Tech Practice Leader, Gallagher

 

cyber-threats-insurance-package

 

Bank-grade security

Amplify Intelligence, whose founders developed security for banks and national defence in the United States and United Kingdom, created brAin box as a cyber safety solution specifically for small businesses that don’t have in house cyber security expertise. It requires no technical ability but provides capability exceeding most IT experts.

"This gives businesses actual visibility of their cyber risks, which will improve their safety and, combined with insurance, peace of mind," says Amplify Intelligence CEO Paul Byrne.

What brAIn box does

  • detects malware intrusions, phishing attacks and attacks bypassing firewalls and traditional controls
  • provides reports of the issues and risks that allow businesses to monitor cyber risks month by month, enabling latent issues to be managed quickly
  • identifies attacks that are bypassing current security and facilitates immediate action by advising remedial steps ‒ without involving expensive security experts
  • delivers alerts for additional free tools that will further reduce risks and limit damage.

How it works

BrAin box scans how network computers and personal devices handle sensitive data and whether they are connecting with compromised internet sites. It also monitors the devices in the network for risk of cyber attack, using machine learning to detect unusual or suspicious discrepancies.

Artificial intelligence, or machine learning, has been heralded as both a possible solution to cyber crime or the latest weapon to be deployed by bad actors,” Adcock says. “With brAin box it’s used in combination with innovative analytics technology in a package that’s easy to use for the businesses that need it most, and it provides a level of specialism that small businesses haven’t had access to before.”

User friendly functions include

  • generating advice on next step actions to defend your network and make it more secure
  • tracking of software updates and notice of when to ditch obsolete applications
  • a monthly snapshot of potential threats and a progress report on how effectively the business is being defended
  • alerts about any gaps in cyber security
  • proof of compliance with security controls.

Adcock says that the Gallagher partnership with Amplify Intelligence came about through both parties recognising a need in the market and the fit between brAin box capabilities and insurance objectives. BrAin box has been trialled with some Gallagher clients who have reported risk reduction of as much as 85% within a month.

“In terms of risk management brAin box coupled with the incident response aspects of an insurance policy delivers a comprehensive cyber security strategy for small businesses,” Adcock says.

 

Connect with an expert

 


Further reading

Business risks in 2020

A the weapon of choice for criminals and targets in cyber security war


To the extent that any material in this document may be considered advice, it does not take into account your objectives, needs or financial situation. You should consider whether the advice is appropriate for you and review any relevant Product Disclosure Statement and policy wording before taking out an insurance policy.