Frequently Asked Questions

We’d like to think there are a number of reasons why The Cyber Collective is a great option for you, but here are the main reasons why businesses have decided to partner with us:

• We’ve partnered with ‘best of breed businesses’ for all of our services. This means you can have comfort that you are providing your business with the best protection.
  
• From our customised training and reporting to our insurance policy tips, everything has been built specifically for financial advice businesses
  
• Rather than source solutions from multiple businesses, The Cyber Collective lets you make one decision and access a comprehensive suite of services that your business needs.
• There’s a big difference between knowing what to do and actually doing it. Our Project Management service ensures that all of our solutions will get implemented within your business. Once you decide to work with us, we’ll do the heavy lifting from there.

The cost of our solution varies, depending on the size of your business, your location, the size of your team and how many devices and domains you have. To find out the exact cost for your business, you can get a quote here.

In every case, there are three layers of cost to be aware of:

• An upfront project management cost to put all your protection in place
• An ongoing monthly cost, which covers each of our comprehensive solutions

We’ve built our pricing to make it easier on your cash flow.

That being said, the ongoing cost is something that you should factor into your future budget. Risks change over time and if you don’t constantly update and upgrade your security, your business will be exposed. 

When it comes to cyber security, there’s no such thing as a ‘set and forget’.

You can DIY the project management of your cyber security, but here are a few reasons why we think we’re a superior option.

• Our services are customised and made exclusively available through The Cyber Collective; you won’t find services of this quality elsewhere.
  
• We have asked our suppliers to ‘sharpen their pencil’, so you’ll access competitive pricing by working with us.
  
• You don’t know what you don’t know about cyber security. We have gone to the market and assembled the best services for you, giving you comfort that you’re not making a mistake with this important decision.

As mentioned above, we have asked our suppliers to ‘sharpen their pencil’, so you’ll access competitive pricing by working with us. The savings you see on our ‘get a quote’ page aren’t a marketing gimmick – these are the exact savings you can access by working with us.

Your time also has a value and we’ve built The Cyber Collective to reduce the time burden of securing your firm. When you factor in the value of your time and the importance of securing your business sooner rather than later, DIY is not always the most affordable option.

You may choose the services that you will need but we highly recommend taking the full suite of services, as it will give you the maximum protection for your business.

The full suite of services will provide your insurer with sufficient comfort that you have appropriate security in place for your business. If you do opt to pick and choose between our solutions it may leave your business exposed to cyber risk and render you uninsurable or result in limitations on your choice of insurer and/or preferred coverage. Implementing all of our solutions in parallel will amplify the quality of each component and give you comfort that you’re creating maximum protection for your business.

If you’re a financial services business, you’re 300x more likely to be attacked than a typical business (Boston Consulting Group, 2019). This is mainly because the client data you hold, both financial and medical, has a high ‘street value’ for a cyber hacker, so they’d love to get their mitts on it.

Compounded by the extra risks created by businesses in allowing their team to work from home on unprotected devices and internet connections and it’s quite clear that ‘complacency’ is no longer an option for a business like yours.

If you’re still not sure where you are vulnerable and where your business needs to ‘pull its socks up’, you should take our free quiz to rate your business’ cyber security.

Prevention is always the best cure. Insurance is a great way to financially compensate you in the unfortunate event of a cyber attack but of course, it would be far better to never end up in that situation. That’s why we have packaged the other services, designed to secure your business and protect your clients and reputation against cyber threats.

Like all insurance though, not all policies are equal. The details of what is and isn’t covered matter. Before you decide whether your current policy is sufficient for your needs, we recommend comparing it against other options in the marketplace, especially ours, which we believe to be a market-leading product for financial advisers.

Not only can we work with licensees, associations and industry groups, but we love doing it! Whether you’re looking for educational resources, training programs or a custom service offering for your network, we’d love to have a chat. Head to our Partner Page to find out more and book in a chat with us.

We’ve designed our website to not just offer you a service but to truly educate you about cyber security and what your business needs to be thinking about. Here are a few places for you to get started in your learning journey:

• Here’s a link to our blog, where we regularly share helpful cyber security tips (you can also sign up to have these delivered to your inbox)
• We have a free training available here to help your business comply with ASIC’s cyber security requirements
• Speaking of ASIC, their website is an excellent resource for all things cyber security.