Confidence to Create the Solution
Roundtable Discussion - A Proactive Approach to Reduce IoT Security Costs
Watch the Roundtable
In this roundtable, our influential panel from across the IoT ecosystem came together to break down the true cost of insecurity, the benefits of taking a proactive approach to security, and how the industry can create new business models, efficiencies, and gain protection from third parties.
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Roundtable Discussion Points
The Cost of Insecurity: What is the Status Quo?
Today, even in scenarios where security is being prioritized, a gap remains between the perceptions of IoT security implementation and the reality. According to the PSA Certified 2021 Security Report, 90% of tech decision makers rate security as important, but this isn’t translating to everyday actions with only 47% carrying out a threat analysis in the design of every new product.
- How can organizations create more value by shifting from an approach to IoT security that focuses on prevention over cure?
- Beyond the bottom line, what are the brand and reputational benefits of best practice security?
Cyber Insurance and the IoT: Mitigating Risk
Establishing a quantifiable level of risk is very challenging in cyber, but fundamental. Independent certification provides an objective view of standardized security, ensuring critical principles are implemented by cyber insurers. RoT provides a chain of trust from silicon upwards, offering assurance for insurers looking at millions of devices.
- In an ever-changing and insecure risk landscape, how can organizations best evaluate risk and identify liability?
- How are leading cyber-insurers quantifying IoT cyber risk and creating new insurance products to support digital transformation?
- How must organizations approach their own cyber risk strategies?
Collaboration and Trust
Building trust in the IoT industry is underpinned by a collaboration model. Companies that are traditionally competitors must recognize the need to collaborate on common goals. PSA Certified represents an independent collaborative effort that’s flexible enough to change with the industry and geographic demands.
- How as an industry can we build consumer trust in the IoT?
- What role does legislation play in this?
- How can the ecosystem come together to create meaningful and practical action towards mitigating cyber risk and optimising digital transformation?
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