Navigate new exposures
Rapid digital evolution
Step aside CTO, CIO, and CFO. COVID-19 joined the C-suite in 2020, leading change as organizations were forced to rapidly set up remote work environments and enable digital customer experiences.
Any thought of a paced and strategic digital agenda was tossed aside in favor of survival. Perhaps your organization rapidly transitioned to the cloud. Under time and cost pressures you execute a ‘lift and shift’ approach, quickly moving existing architecture to a new cloud environment. You may now believe that this strategy, necessary as it was, brought considerable security disadvantages and perhaps offset the many benefits of the cloud. Or, your organization weathered the pandemic, but the board is now calling for more innovation; maybe urging deployment of Artificial Intelligence (AI) to inform smarter decisions.
Change seems constant, and it is. Organizations are in a process of digital evolution. The continued drive towards innovation, for example the Internet of Things (IoT), Internet of Bodies (IoB), and Smart City initiatives, will continue to pose yet more cyber risk in 2021. Operating in this environment, organizations are called on to weigh the projected benefits of a digital agenda against the cyber risk introduced by adopting new technologies or business models.
As part of an enterprise-wide approach, it is essential to identify the cyber risks and threats; mitigate risks as appropriate through best cyber security practices; prepare and be ready for incidents; and consider which part of the risk to transfer off the balance sheet through insurance, and then scrutinize current and available policies to ensure new risks are covered.
Organizations are challenged to navigate the new exposures arising from rapid digital evolution.
Explore key risks arising from rapid digital evolution, map them to key cyber security controls, and determine actions your organization can take to close cyber security gaps.
*Aon's Cyber Quotient Evaluation (CyQu) is a comprehensive cyber risk assessment that evaluates cyber risk across 9 security domains and 35 critical control areas.