Small and medium businesses consistently rate security as one of their most pressing technology challenges. But most resource-constrained SMBs are overwhelmed by the seemingly endless variety of cyber threats–and by the confusing array security solutions that promise protection.
With that in mind, I was excited to talk to Sidd Gavirneni, who is Cofounder & CEO at Zeguro, an end-to-end cyber safety platform and insurance provider for small to mid-sized businesses (SMBs), and learn about Zeguro’s holistic approach to help SMBs tame the security beast.
Laurie: Before we get into more detail what Zeguro does, can you give us a little background on the company?
Sidd: Zeguro was founded three years ago and funded in 2018. My Co-founder, Dan Smith, and I both worked for larger organizations in cyber security, and saw unsophisticated attacks cripple operations. We thought, “If it is this easy to penetrate larger organizations, smaller organizations don’t stand a chance.”
Laurie: What does Zeguro do, and who it’s for?
Sidd: Zeguro offers end-to-end cyber safety solutions for small to mid-sized businesses (SMBs). In 2018, 58% of SMBs surveyed reported a breach*.s. In addition, it helps keep smaller companies in compliance with data regulations and contractual obligations.
Zeguro’s tailored cyber insurance is there to help a business recover, with minimal disruption, in the event of an attack. Ongoing assessment, mitigation and remediation keep risk, and premiums, in check.
Laurie: How is Zeguro different than other security solutions and services?
Sidd: Zeguro is unique in the fast-growing insurtech sector. Through our partnership with Hartford Steam Boiler (HSB), the offering is highly customizable. More than a Managing General Agent, Zeguro uses technology to understand a clients’ risk, helps them decrease that risk, and then offers insurance to meet diverse risk profiles. The key here is to tie in the security posture of a business with cyber insurance, drastically impacting premiums for the price-sensitive small business.
Laurie: How does it work?
Sidd: Once enrolled, a company has access to our dashboard. It is software-as-a-service, which can be broken down to these four pillars:
- Training: Zeguro Cyber Safety™ provides a cybersecurity skills assessment and targeted training for all enrolled employees.
- Monitoring: Ongoing monitoring for your website, domain, and connected apps.
- Compliance: Staying in compliance with today’s contractual requirements and security regulations (like PCI DSS, HIPAA and ISO 27001) is an increasing concern for companies. With Zeguro, the first step to staying in compliance is easier than ever.
- Insurance: While continuous monitoring, employee training and compliance with security requirements help prevent data breaches, cyber criminals are always finding new methods of attack. Cyber insurance helps offset financial loss in the event of a cyber attack.
Laurie: What types of breaches is it most effective at protecting against?
Sidd: The primary attacks that SMBs face are phishing and social engineering, web-based attacks, malware, and ransomware. And these are usually caused by negligent employees and contractors, or by hackers exploiting loopholes (vulnerabilities) in websites and applications. With these in mind, Zeguro has focused on helping employees and contractors identify such attacks instead of falling prey to them. Similarly, the monitoring aspects of the platform help detect vulnerabilities in websites and the business’ home-grown applications before hackers do.
Laurie: Who underwrites the insurance?
Sidd: Zeguro acts as the Cyber specialist underwriters for Hartford Steam Boiler/MunichRe, a 150+ year old A++ rated (A.M. Best) top commercial insurance company.
Laurie: What is the pricing model?
The three key challenges for most SMBs that prevents them from having a good cybersecurity posture are the lack of cybersecurity personnel, small security budgets, and a lack of understanding of cybersecurity.
With this in mind, we have priced Zeguro’s platform to be affordable. Our mission is to empower every organization to withstand digital risks, and money should not be a deterrent to that. The pricing for the platform is based on the size of the business, and the details can be found at https://zeguro.com/pricing. And if people want to learn more about Zeguro, they can visit our site at www.zeguro.com.
Laurie: Thanks so much Sidd, for sharing this information–it certainly looks like a promising new way to tackle the security problem.
© SMB Group, 2019
*2018 State of Cybersecurity in Small & Medium Size Businesses. https://keepersecurity.com/assets/pdf/Keeper-2018-Ponemon-Report.pdf