Client Profile
A mid-sized fintech organization undergoing rapid digital expansion. As cyber insurance providers increased their scrutiny, the company struggled to provide sufficient evidence of controls, policies, and maturity – putting both coverage and premiums at risk.
Challenges Faced
Key security concerns included:
- Lack of documented security policies and incident response plans
- No centralized logging or evidence of threat detection capabilities
- Gaps in user access control and identity governance
- Limited awareness of insurer-aligned compliance benchmarks
- Inability to demonstrate consistent risk assessment practices
Solution
COE Security implemented a structured Cyber Insurance Audit Readiness Program, combining:
- Comprehensive Audit Gap Analysis: Mapped controls to insurance provider requirements and industry standards like NIST and ISO 27001.
- Policy & Documentation Development: Created audit-ready documents including security policies, incident response plans, and risk registers.
- Technical Controls Alignment: Deployed MFA, EDR, SIEM integration, and vulnerability management tools to demonstrate proactive defense.
- Mock Audit Sessions: Simulated insurance audits to prepare stakeholders and refine documentation packages.
Audit-Ready Risk & Compliance Alignment
- Documented cybersecurity policies mapped to industry standards (NIST, CIS Controls, ISO)
- Created a central risk register and updated threat modeling practices
- Aligned existing controls with insurer evaluation criteria and benchmarks
- Conducted regular tabletop exercises to validate incident response capability
- Established log retention, forensic readiness, and data breach notification procedures
Insurer-Driven Security Governance
- Defined roles and responsibilities across IT and compliance teams
- Deployed access control reviews, endpoint monitoring, and encryption practices
- Implemented secure backup strategies with offsite recovery validation
- Configured compliance dashboards and insurer-specific reporting mechanisms
Cyber Insurance Audit Readiness Portfolio
- Cyber Risk Assessments & Gap Identification
- Documentation Kits for Policy, Response, and Governance
- Mock Audits and Readiness Training
- Log Management & SIEM Deployment
- Vulnerability Management & Patch Governance
- MFA & Endpoint Detection Integration
- Forensic Logging & Incident Playbook Design
- Executive Briefings & Insurer Liaison Support
- Continuous Compliance Dashboards
- Threat Intelligence & Breach Notification Preparedness
Implementation Details
- Deployed a centralized SIEM for log visibility and alert tracking
- Integrated multi-factor authentication across all user accounts
- Drafted audit-ready security policies, tested through simulated insurer walkthroughs
- Conducted phishing and breach response drills to evaluate incident readiness
- Delivered audit-friendly reports, risk metrics, and monthly compliance updates
Results Achieved
- Full cyber insurance coverage secured without exceptions or delays
- 35% reduction in premium cost due to improved cyber maturity score
- 100% audit documentation completeness across policy and technical domains
- Incident response confidence increased through validated tabletop exercises
- Cyber risk register established, providing real-time visibility into organizational posture
Client Testimonial
“Thanks to COE Security, we passed our insurance audit with flying colors. Their structured approach made sure we were not just compliant – but resilient.”