Cybersecurity Strategic Plan Part 2
Authors: Onyinyechukwu Ujah  , Miriam Duru  , Samuel Akinola  
Published: August 2024

In Part 1, several key elements were addressed to enhance the company's cybersecurity posture and align it with its business objectives. The introductory letter outlined the company's recent assessment of cybersecurity policies and vulnerabilities, emphasizing the need for a proactive cybersecurity approach to protect critical information assets. The significance of strong cybersecurity measures in the face of evolving cyber threats was underscored, highlighting the potential catastrophic implications of data breaches. The call to action for all stakeholders to embrace and drive best cybersecurity practices, in line with industry frameworks like the NIST Framework, was also emphasized.
The business mission, vision, and values of Grayson Insurance were articulated to communicate the company's core identity and goals from a business perspective. The mission statement emphasized the commitment to offering high-quality service to clients at competitive rates while fostering a friendly and competitive workplace. The vision aimed to position Grayson Insurance as the most empathetic and attentive insurance company, striving to improve skills, offer quality products, and expand customer access. The values of trust, knowledge, connection, teamwork, respect, integrity and professionalism, fun & humor, and commitment underscored the company's commitment to ethical conduct, continuous learning, customer-centric approach, and teamwork.
The IT philosophy of Grayson Insurance outlined guiding principles and values influencing the company's approach to information technology and cybersecurity. Embracing digital transformation, cybersecurity classification, risk management, security controls, proactive cybersecurity, and business and IT alignment were highlighted as key focus areas. The adoption of outsourcing for various IT services, implementation of data classification schemes, and deployment of technical solutions like email filtering systems and encryption reflected the company's proactive stance towards cybersecurity.
The organizational structure of Grayson Insurance's security team was presented, emphasizing the strategic positioning of the Chief Information Security Officer (CISO) and the delegation of responsibilities across various security roles. Justifications for the organizational chart were provided, highlighting the need for efficient team alignment with the company's cybersecurity requirements. Collaboration with internal and external partners was emphasized to optimize resources and expertise in addressing cybersecurity challenges effectively.
Furthermore, the security mission, vision, and core values of Grayson Insurance were outlined to establish principles and objectives for the organization's security practices. The mission emphasized continuous evolution of cybersecurity capabilities to detect, prevent, and respond to cyber threats, while the vision aimed to position Grayson Insurance as a leader in crafting and delivering strong cybersecurity practices. Core values of confidentiality, integrity, availability, and accountability underscored the company's commitment to safeguarding assets, information, and people.
Lastly, the security issues and challenges faced by Grayson Insurance, including data privacy and compliance, cyber insurance risks, phishing and social engineering, and supply chain security, were identified. Recommendations for addressing these challenges included prioritizing awareness and training programs for employees, nurturing a security-first culture, and considering the human factor in cybersecurity strategies. The importance of strong leadership in fostering a culture of awareness and responsible technology use was emphasized to mitigate the risks associated with human error in cybersecurity.