Passwordless MFA For Cyber Insurance

Secure IT infrastructure with the power of secure passwordless solutions. Let onsite and remote employees access their accounts and workstations in seconds, without phishing threats or data breaches.

Solution brief

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64%

Employees prefer phone-based authentication to passwords

105 sec.

Average time users spend on standard login + MFA

62%

Find traditional MFA (SMS, OTPs, etc.) annoying

25%

Leave their computers unlocked and unattended

mFA requirements for cyber insurance

In today's ever-changing world of cyber threats and regulations around data privacy, it's crucial to emphasize the importance of robust cybersecurity measures. As businesses strive to protect their sensitive information, cyber insurance has emerged as a critical aspect of their risk management strategy. However, in light of the increasing frequency of cyberattacks, insurance providers are adapting their policies to better mitigate risks. Recent trends in the insurance industry have shown a notable shift towards requiring multi-factor authentication (MFA) as a prerequisite for cyber insurance coverage. This shift reflects a proactive response to the escalating threat landscape, particularly with the rise of phishing and ransomware attacks. The significant ransom payout of $40 million by CNA Financial Corp in March 2021 serves as a stark reminder of the potential financial consequences of cyber incidents.

not all forms of MFA offer the same level of security

The effectiveness of multi-factor authentication methods varies significantly in enhancing security measures. While traditional approaches, like sending one-time passwords (OTPs) to phones or email addresses, provide an added layer of security, they remain vulnerable to phishing attacks. Hackers can easily deceive users into entering their credentials and OTP codes on fake websites, compromising sensitive information undetected. In contrast, phishing-resistant MFA utilizes a different authentication approach, requiring users to possess a personal security key and eliminiating the need for any kind of passwords of one-time codes. Passwordless authentication relies on cryptographic protocols. Instead, it employs public key cryptography to verify a user's identity.

Passwordless authentication is based on FIDO2 and FIDO U2F authentication protocols that are inherently phishing-resistant because they use a combination of biometric data, such as fingerprints or facial recognition, and cryptographic keys stored securely on the user's device. These keys are unique to each device and cannot be replicated or intercepted by hackers.Unlike OTPs, the secrets of Passkeys or physical security keys are nearly impossible to extract remotely, making them highly resilient against interception and man-in-the-middle attacks. This robust security measure ensures that only authorized users gain access to sensitive resources, offering peace of mind to organizations and their cyber insurance providers.

Hideez Service: True Passwordless MFA for Cyber Insurance

Improved Security: Passwords can be stolen or cracked, leaving enterprise networks vulnerable to attacks. Replace traditional passwords with stronger, more secure sign-in methods, such as biometrics or security keys.
Reduced IT Burden: Managing passwords is time-consuming and expensive for IT departments. Passwordless solutions eliminate the need to manage and reset passwords, freeing up IT resources for other tasks.

Enhanced User Experience: Passwordless login streamlines the authentication process, making it more user-friendly. This, in turn, can improve employee productivity and satisfaction.
Compliance: Passwordless auth provides stronger authentication measures, enabling organizations to comply with various regulatory requirements, such as GDPR, HIPAA, PCI DSS, and more.

How Does Hideez Passwordless Authentication Solution Work?

Our triple-layered authentication system can be customized to your preferences, ensuring maximum convenience. Choose from several authentication methods and use them together or individually.

Say Goodbye to Passwords: Experience True Passwordless SSO

Regardless of how many Identity Providers you have, Hideez can assist you in getting rid of passwords. By expanding your investment in SSO and making it passwordless, you can attain the highest level of assurance for all of your applications. With Hideez, the possibilities for authentication are endless!

Streamline Your Workflow with Remote Login Solutions

With Hideez, you can equip your team with speedy and straightforward passwordless security that works on all their devices, applications, networks, and more. By using Hideez, you can streamline and consolidate logins for desktops, RDP and VDI, which can boost your team's efficiency no matter where they are working from.

Proximity-based PC Login and Unattended Logout

Our hardware security vaults store up to 2,000 passwords per device. With automatic proximity lock/unlock for PCs, you can ensure that access to your desktop computers is always secure. Our solution also provides the ability for remote user logout, allowing you to end user sessions remotely.

Seamless Integration with Cloud Based and On-Prem Services

Our access and identity management tools integrate seamlessly with Active Directory and Azure AD, providing centralized authentication with SAML SSO. Our user authentication solution supports both modern and legacy applications.

Admin Console for Managing Users and Access Rights

Our user access management tools allow you to manage authentication methods and access rights of all employees, with the ability to revoke or delete users from a central admin console. With customizable solutions, easy deployment, and support, you can manage user access with ease!

Internet Connection Is Not Required for End Users

Stay connected to your corporate resources even without an internet connection. Our passwordless authentication solution allows employees to access apps and log in to workstations offline. With our mobile app, employees can using one-time access codes, while Hideez Keys offer one-touch login with a PIN code.