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Our last article (contributed by Andrew Tollinton from Sirv and the team at Toro) reviewed why security is often seen as a ‘grudge purchase’, a necessary expense and an item on a checklist often begrudgingly ticked off. For many, the narrative surrounding security has been framed in terms of compliance, insurance, risk aversion, and protection against worst-case scenarios. But if we reframe security then it becomes an enabler...
Security as Insurance vs. Security as Assurance
Insurance policies are often seen as a safety net, an expense that provides a return only after damage has been done. Unfortunately, security is often placed in this category. Businesses may reluctantly invest in security because they fear the consequences of a cyberattack, data breach, or regulatory failure, but they view it as a cost centre, something they’d rather avoid spending on unless absolutely necessary. This frame creates a reactive mindset. However, this is not how modern, effective security works. Unlike insurance, which responds only after an incident occurs, security is proactive. It doesn’t wait for a harmful event to happen and then attempt to limit the damage. Instead, security works to prevent harm from happening in the first place. It build layers of protection to reduce harm, ensure business resilience , and protect critical assets every day. Indeed, if security is done right, it can change the outcome of risks from being harmful to beneficial.
By shifting the conversation from “insurance” to “assurance,” businesses see security not as a necessary evil but as a powerful enabler of their growth and success. Assurance is about confidence knowing that your systems, information, buildings, people and brand are protected. Security as assurance is a proactive approach that continuously reduces vulnerabilities, preventing issues before they arise, rather than waiting for a harmful event to show its value. Changing the narrative gives security a greater purpose and value back into the business.
Shift from Cost to Investment
Shifting frame from insurance to assurance fundamentally changes how business views security. When security is reframed as assurance, it becomes ca strategic investment, a critical part of business resilience and long-term success.
Core business activities such as, financial transactions, customer relationships, supply chains, communication systems, and intellectual property. Each are vulnerable to disruptions or threats. Security doesn’t just protect these assets from bad actors, it ensures that these activities continue without interruption. This is the true value of security - its ability to protect against disruptions, maintain operational continuity, and secure the business’s reputation and future growth.
A business that invests in robust security measures is not just safeguarding its assets or meeting compliance requirements. It is investing in its own ability to thrive in an increasingly complex and dangerous world where cyber and physical threats are rising. With the right security, a business can innovate and operate with confidence, knowing that its most valuable assets are secure. It can pursue new markets, launch new products, and build stronger relationships with customers all with the assurance that its security measures will protect those opportunities.
Security as assurance also supports growth. A comprehensive security strategy should not be static, it must evolve and adapt as the business changes and grows. By embedding security into the fabric of the organisation’s culture and operations, businesses can be sure that security will scale with them, allowing for growth without sacrificing protection.
A Holistic Approach to Risk and Resilience
Security as assurance spans every facet of the business. It’s an organisation wide responsibility that involves everyone, from the CEO to the front-line employees. When security is seen as part of the company’s DNA, it creates a culture of vigilance and responsibility that helps prevent problems before they happen.
For example, regular training, clear communication, and strong leadership are all essential components of a security strategy that focuses on assurance. Employees need to understand their roles in maintaining security and how their actions can either strengthen or weaken the organisation’s security. By embedding security into the daily operations of the business, it becomes an ongoing process of continuous improvement, rather than something that’s only addressed after a harmful event occurs.
In this holistic approach, businesses are constantly identifying and mitigating risks across the entire organisation from technological vulnerabilities to human error, and from regulatory compliance to business continuity. The assurance that security provides is a dynamic process that evolves to meet new threats and challenges, adapting alongside the business’s growth and changes in the risk landscape. Integrating security in a wider risk and resilience programme helps security move from a grudge purchase to within the culture of a business.
Protecting Trust, Reputation and Brand
One of the most valuable assets a business has is its reputation. Trust is the foundation of repuration and security plays a critical role in maintaining that trust. When customers know that their data is protected, that their interactions with the company are secure, and that the business is committed to safeguarding their privacy, they are more likely to engage with the brand, make repeat purchases, and recommend the business to others.
A data breach, on the other hand, can have a devastating effect on a business’s reputation. The financial cost of a data breach ranging from fines and legal fees to lost revenue and damaged customer loyalty can sadly be catastrophic. When businesses treat security as a form of assurance, they are proactively protecting the trust and reputation that are vital for success.
Moreover, as customers and partners grow increasingly aware of the importance of data privacy and security, businesses that prioritise security will find themselves ahead of the curve. The proactive implementation of security measures, particularly those that align with the latest industry standards and regulatory requirements, signals to customers, investors, and other stakeholders that the company is reliable, responsible, forward-thinking and importantly has their customers best interest at the forefront of their business.
Enabling Business Resilience and Growth
At a time where security threats are evolving at an unprecedented pace, the ability to remain resilient in the face of these threats is paramount. Security as assurance enables businesses to be agile, responsive, and resilient. With the right security measures in place, organisations are better equipped to handle crises, whether they’re external threats or threats from within.
Security also enables businesses to build strong, lasting relationships with customers, suppliers, and partners. A company that takes its security seriously is seen as a trustworthy partner, one that can be relied upon to protect shared interests and uphold commitments. In this way, security isn’t just about safeguarding the business, it’s about strengthening relationships and creating opportunities for collaboration and growth.
Security as a Strategic Asset
The shift from security as insurance to assurance is a transformative change that can unlock tremendous value for businesses. When security is seen as assurance, it becomes clear that it’s not just a cost to be minimised, but an essential investment in the business’s resilience, growth, and long-term success.
Security provides the confidence to innovate, scale, and navigate the world without fear of harm and disruption. It protects critical business functions, secures customer trust, and enables the business to remain competitive in a rapidly evolving landscape. By embracing security as assurance, businesses can transform security from a reactive, compliance-driven necessity into a proactive, strategic enabler of opportunity.
Ultimately, security is no longer just about preventing harm, it’s about enabling success. When businesses adopt this mindset, they position themselves to thrive in an increasingly interconnected and risk-laden world, confident in the knowledge that their security infrastructure is a foundational asset, not a burdensome expense.