Securonix: Leveraging the Power of Big Data for Efficient Security Analytics

Sachin Nayyar, CEO, SecuronixSachin Nayyar, CEO
Security practices within the insurance industry are mature and sophisticated in comparison to other industries. But recent cyber attacks and incidents of fraud have called their relative immunity to cyber crime into question.

“Cyber criminals are targeting insurance firms because of the valuable nature of the data these companies possess. Every insurance customer record that is high-jacked or stolen can be sold for 150 to 200 dollars,” says Sachin Nayyar, CEO of the security analytics company Securonix.

This is where Big Data is becoming a game changer. Big Data enables efficient analytics for the detection, monitoring, and management of cyber threats and risks.

“Our Big Data analytics and fraud detection capability allows insurance companies to spot advanced, insider, and external customer fraud through behavioral and advanced analytics using the transactional data at our disposal,” says Nayyar.

Headquartered in Los Angeles, California, Securonix brings together the power of Big Data with a patented behavior analytics engine and a powerful visualization capability that addresses unknown threats, insider attacks, cyber attacks and fraud. Around 50 percent of the Fortune 500 insurance and financial services companies are Securonix customers.

“To counter attackers today, insurers need a signature-less, behavior-based and adaptable security platform, and that’s what we’ve been doing for the past six years,” says Nayyar.

As cyber attacks become more sophisticated, the tools, signatures, and rules used to detect them have become unreliable.

Securonix brings together the power of big data with a patented behavior analytics engine and a powerful visualization capability that prevents and detects unknown threats

Securonix detects unknown and hard-to-see threats using advanced algorithms written by their own scientists that produce unprecedented threat detection capabilities.

“Our behavioral and threat models are continuously kept updated. They are the most valuable weapon we deliver to our customers,” says Nayyar.

Securonix’s goal is to provide customers with a product that works out-of-the-box and caters to mobile, cloud enabled, and Big Data environments. The Securonix platform integrates with mobile device management products and native data originating from various mobile devices to provide behavior-based set management or risk management of the mobile platform. Its cloud analytics applications acknowledge that every organization is on the cloud or on the move towards it and cloud-based data, applications, and infrastructure demand security.

The key solutions rendered by Securonix include Data Exfiltration Intelligence, Privileged Account, Application Security, Network Security, Cloud Security, and Identity and Access Analytics. Securonix caters to insurance companies with insurance fraud detection capabilities and integration with applications like Guidewire so that these enterprises use the same underlying platform for security as well as advanced fraud detection using behavioral analytics.

“We’re focused on being the leader in management of security and fraud analytics, that’s where we see ourselves playing in three years,” says Nayyar.