The dynamics of cyber insurance and ransomware mitigation

In today’s cybersecurity landscape, ransomware is now a major threat across all sectors, and while prevention is key, effective mitigation is equally critical. That’s where cyber insurance comes into play — it’s an important way to mitigate some of your most significant risks. Let’s look into the trends in ransomware, the state of cyber insurance, and the role of cyber insurance in ransomware mitigation. 

The growing threat of ransomware

I think it’s safe to say that ransomware has evolved significantly over the years. What was once a sporadic threat has now become a persistent and pervasive risk for organizations worldwide. According to a recent ESG (Enterprise Strategy Group) report, “Lighting the way to readiness and mitigation,” 89% of enterprises consider ransomware one of the top five threats to their viability, highlighting the widespread concern that ransomware attacks can disrupt operations, compromise sensitive data, and result in significant financial losses.

One of the most striking trends in the ransomware landscape is the rapid increase in the number of identifiable ransomware groups — not entirely unlike the early days of the automotive industry where a small number of manufacturers eventually grew into a large, competitive market through new entries, consolidation, and expansion.

Similarly, the ransomware market has expanded as new threat actors emerge, gain success, and attract attention. While some of these ransomware groups are eventually shut down, others continue to thrive, contributing to an alarming 55% year-over-year growth in ransomware attacks.

The financial incentive driving ransomware

Just as with other forms of cybercrime, ransomware threat actors are motivated by the potential for substantial financial rewards. When people have a financial incentive to do something bad, they’re often going to do that thing. And since there’s a lower barrier to entry in the ransomware market than ever before — especially when utilizing options such as ransomware as a service (RaaS) — almost anyone with a basic understanding of technology and a desire to make money can participate.

Read ransomware-as-a-service blog

This has led to a proliferation of ransomware groups, each looking to capitalize on the lucrative opportunities that cyber extortion presents. According to a Reuters report, ransomware generated over $1 billon USD in 2023 alone.

Geopolitical factors also play a role in ransomware activity. Some countries are known to harbor, or at best ignore, ransomware gang activities in their countries, and there’s evidence of state-sponsored ransomware attacks, too. All of these attacks share a primary focus: Generating revenue through ransomware.

Looking at the graph above, geopolitical factors seem to be a plausible explanation for 2022 — the year Russia invaded Ukraine — being an anomalously slow year regarding generating ransomware revenue. And in 2023, a historically high peak, representing a 140 percent growth from 2022, according to Statista.

The role of cyber insurance

Because you can’t guarantee that you won’t be able to prevent every attack, cyber insurance has become an essential component of an organization’s risk management strategy. While it is not a substitute for robust cybersecurity measures, cyber insurance helps organizations mitigate the financial fallout from a ransomware attack.

Of US organizations polled, 58% reported either opting in to one or more cyber-insurance policies or planning to do so in the next 12 months to mitigate their ransomware risk.

The cyber insurance market has evolved significantly in recent years. Initially, obtaining cyber insurance was relatively simple; businesses could secure a policy with minimal requirements. However, as the frequency and severity of ransomware attacks have increased, insurance companies have raised their standards.

As a result, there are new hurdles for businesses to overcome. Escalating rates, additional cybersecurity requirements, and limitations in coverage all make it more difficult for many organizations to acquire insurance. More than half of those surveyed have reported difficulties meeting underwriter cybersecurity requirements to acquire a policy. Today, insurers require organizations to demonstrate a certain level of cybersecurity maturity before they can qualify for coverage.

These controls include key items such as multi-factor authentication (MFA), endpoint detection and response (EDR) solutions, and robust backup systems. Put bluntly, you cannot get an insurance policy without implementing the controls your insurer expects to see.

The state of cyber insurance

As cyberthreats continue to evolve, so does the cyber insurance market. As I mentioned, insurance companies are now paying closer attention to how organizations manage data security and privacy, particularly in light of emerging technologies like artificial intelligence (AI). Insurers are beginning to ask more detailed questions about how AI is being used within organizations and how it’s being incorporated into detection and response capabilities.

Moreover, cyber insurance policies are increasingly being tailored to the specific needs of organizations. This includes offering proactive tools that can help organizations prepare for and respond to ransomware attacks. For example, some policies now include coverage for tabletop exercises, incident response planning, and access to breach coaches and specialized vendors.

The importance of a holistic approach to cybersecurity

I want to emphasize that cyber insurance should be viewed as one component of a broader, defense-in-depth strategy. Relying solely on insurance to mitigate the impact of a ransomware attack is not sufficient. Instead, organizations must adopt a holistic approach to cybersecurity that includes strong preventive measures, regular testing, and a clear understanding of their risk landscape.

The importance of communication and collaboration across the organization cannot be overstated. Cybersecurity is not just the responsibility of the IT department; it requires buy-in from the board of directors, management, and all employees. By fostering a culture of security awareness and ensuring that everyone understands their role in protecting the organization, companies can better defend against ransomware attacks.

Conclusion: The future of cyber insurance and ransomware mitigation

Ransomware remains a significant threat, but organizations can take proactive steps to protect themselves. By aligning cybersecurity practices with established frameworks, continuously testing and improving defenses, and incorporating cyber insurance into risk management strategies, organizations can better withstand the challenges posed by ransomware.

As the cyber insurance market continues to evolve, it’s crucial for organizations to stay informed about the latest developments and adjust their strategies accordingly. The ultimate goal is to create a resilient organization that can not only survive a ransomware attack but continue to thrive in the face of ever-changing cyberthreats. 

On-demand cyber insurance webinar

CybersecurityBusiness continuityCyber insuranceRansomware

About Version 2 Digital

Version 2 Digital is one of the most dynamic IT companies in Asia. The company distributes a wide range of IT products across various areas including cyber security, cloud, data protection, end points, infrastructures, system monitoring, storage, networking, business productivity and communication products.

Through an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which include Global 1000 enterprises, regional listed companies, different vertical industries, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.

About Keepit
At Keepit, we believe in a digital future where all software is delivered as a service. Keepit’s mission is to protect data in the cloud Keepit is a software company specializing in Cloud-to-Cloud data backup and recovery. Deriving from +20 year experience in building best-in-class data protection and hosting services, Keepit is pioneering the way to secure and protect cloud data at scale.

Keepit supports dairy company Emmi with SaaS data backup for Microsoft

Emmi AG, the largest dairy processing company in Switzerland, is working with Keepit’s backup solution for Microsoft 365

COPENHAGEN, DENMARK. August 23, 2024 – Since April 2024, Emmi AG, the largest dairy processing company in Switzerland with its own presence in 14 countries worldwide, has been working with the backup solution for Microsoft 365 from Keepit, a leading provider of cloud backup for SaaS applications.

After the expiry of its previous backup solution, Emmi was faced with the challenge of finding a comprehensive, scalable, and future-proof alternative. There were several reasons in favor of the Danish software-as-a-service company: The solution needed to back up all of Emmi’s business-critical SaaS data for Microsoft 365, Azure DevOps and Entra ID on an independent private cloud, ensure business continuity, be able to restore the data immediately, and be user-friendly. And all this at a transparent fixed price with no hidden costs. Keepit meets these criteria and even offers its backup-as-a-service from Swiss data centers. Keepit stores two copies of the backed-up data on its own storage solution in two data centers, ensuring a clean air gap: A decisive factor for Emmi’s security requirements.

 

After a proof of concept in production with real data, the backup solution was introduced — smoothly and in just a few hours. The operation of the Keepit solution required only minimal training for employees. The simple and almost self-explanatory functionality of the solution promoted internal acceptance.

 

For Emmi, the uncomplicated direct communication and the high level of expertise of all those involved also proved their worth. Another advantage of the Keepit solution is that it fits seamlessly into the dairy company’s IT landscape and thus supports the centralized management of backups. The reliable, automated solution requires hardly any operational effort on Emmi’s part.

 

For Marc Baumann, Lead Data Platform Services, the results of the collaboration speak for themselves: “With Keepit, we can effectively minimize downtime and data loss by performing regular backups without storage space restrictions. Overall, Keepit contributes significantly to Emmi’s risk management by providing a reliable and scalable backup solution that secures business operations.”

With Emmi’s international business activities, it was also important that technology partners could provide a globally available and scalable offering. Keepit’s global infrastructure was therefore another key advantage. The collaboration underlines Emmi’s commitment to innovation and data security in the digital era. Keepit is proving to be the ideal partner for mastering the challenges of a globally active dairy.

About Version 2 Digital

Version 2 Digital is one of the most dynamic IT companies in Asia. The company distributes a wide range of IT products across various areas including cyber security, cloud, data protection, end points, infrastructures, system monitoring, storage, networking, business productivity and communication products.

Through an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which include Global 1000 enterprises, regional listed companies, different vertical industries, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.

About Keepit
At Keepit, we believe in a digital future where all software is delivered as a service. Keepit’s mission is to protect data in the cloud Keepit is a software company specializing in Cloud-to-Cloud data backup and recovery. Deriving from +20 year experience in building best-in-class data protection and hosting services, Keepit is pioneering the way to secure and protect cloud data at scale.

What is CISO-approved backup?

Background of Keepit’s CISO Kim Larsen

My journey into cybersecurity started long ago when I was a police officer. I was working in serious crime investigation, which then took me to the internet as the world went to cyber, and eventually I joined the intelligence service in Denmark as CSO. After that, I was working with NATO and the EU as a delegate to the security committees.

This background has been incredibly beneficial as it taught me to handle crises, assess risks, and maintain a certain calmness under pressure. These skills are vital in the cybersecurity world, where threats are ever-present and evolving daily. As a police officer, I was trained to see risks that others might overlook, and this perspective has been invaluable in my career role as a CISO.

Understanding the cybercrime landscape

One of the significant challenges in cybersecurity, as I see it, is the dynamic nature of cybercrime. Criminals can constantly change their tactics and crime scenes, making it difficult to combat them. Therefore, it’s crucial to have a strong collaboration between governments and enterprises to prevent these crimes effectively. The cooperation between different sectors is vital because cybersecurity threats don’t respect borders, and international collaboration is often required to address them.

Having the right level of security is key to earning customer trust.

The critical role of a CISO in backup solutions 

At Keepit, we recognize that we are the last line of defense for an enterprise. When everything else fails, businesses rely on their backup systems to recover and continue operations. This is why backup solutions need to be robust, reliable, and secure. My role involves ensuring that we stay ahead of compliance regulations, understand the threats we face, and mitigate those risks effectively. 

Bringing backup to the forefront 

Traditionally, backup systems have been viewed as something in the corner (or quite literally the basement), often neglected until disaster strikes, where it’s hoped everything will work for a recovery.

However, I believe that backup solutions, like those provided by Keepit, should be brought to the forefront of an organization’s strategy. Our solution ensures that data is not only backed up but secure, readily accessible, and restorable, aligning with the critical needs of modern enterprises, such as ensuring business continuity and compliance even in the face of disruptions.

Backup systems aren’t just an IT concern but should be a significant consideration for management, C-level, and the board. Regular testing and daily engagement with backup solutions are essential to ensure they are ready when they are desperately needed — after an attack or other data loss event. 

The Keepit approach to backup 

At Keepit, we provide backup solutions for software-as-a-service (SaaS) environments. This means that we back up data and allow businesses to work live with the information, whether it’s a regional backup or a cloud backup. One of the key features of our solution is the ability to reverse cloud backups to local backups. This ensures that businesses can always access their data, even if they lose connection to their cloud provider, such as Microsoft, Google, or Amazon. This dual approach provides a significant advantage in terms of compliance and business continuity. 

Security measures and certifications 

We pride ourselves on using a well-proven, robust data center solution and maintaining rigorous security standards. Our security measures are based on ISO 27001 certification, which, while not providing security on its own, assures our customers that the entire Keepit organization lives up to the highest international security standards and ensures that we have the necessary controls in place. We focus on maintaining strict control over access, keeping IDs updated, and ensuring that only authorized personnel have access to our servers. 

Identity management and zero trust 

Credential management is critical in cybersecurity. While the concept of zero trust is often more theoretical, we strive to implement as many controls as possible to minimize risks.  To me, zero trust is mostly theory because I don’t think anyone has total control over all of the processes in their infrastructure. For a deeper understanding of zero trust principles, you can refer to the NIST Zero Trust Architecture. 

So, my advice is to build a control framework that, first of all, protects your critical assets and ensures that you have identified and protected those frameworks of controls that work. By doing that you also map what you might not have sufficient control over, be aware of that, and then protect it even more than you do with the rest of your assets.

It’s essential to understand which assets you need to protect the most and to build a governance framework around those assets. This approach helps in identifying and safeguarding the crown jewels of your enterprise; it’s all about asset identification.

He who defends everything, defends nothing.

Frederick the Great

Compliance and regulations 

Compliance with regulations is a global concern. Whether it’s GDPR or NIS2 compliance in Europe or other data protection laws in the US like DORA (Digital Operational Resilience Act) and others around the world, businesses need to be aware of and comply with these regulations. It’s not just about having a certificate; it’s about living the compliance regulations and integrating them into the enterprise culture. Trust is paramount in our industry, and if customers don’t trust us, they won’t buy our services. 

The impact of AI and future threats 

Artificial Intelligence is rapidly changing the threat landscape. The ability of AI to mimic human behavior and infiltrate systems is a growing concern. It’s crucial to know where your data is and ensure it’s adequately protected. This includes being cautious about using public AI services and understanding what data can be shared and what must remain secure. 

Data management challenges 

One of the biggest challenges in data management is knowing where your data is and how it’s protected. This includes understanding where data is stored when it’s in the cloud, how it’s transported, and how employees share it. Most data breaches occur due to unintentional data sharing rather than malicious intent. Therefore, it’s essential to provide clear guidelines and establish a framework that aligns with how employees work. 

Balancing security and collaboration 

The foundation of any business is data sharing, but this must be balanced with security needs. Over-classification of data can impede collaboration and productivity. It’s about finding the right balance where security measures protect the most critical data while allowing for effective collaboration within the organization. 

The importance of regular testing 

A backup solution is only as good as its last test. Regular testing ensures that the backup system is functional and ready to be deployed when needed. It’s essential to integrate this testing into the daily operations of the organization rather than waiting for a disaster to strike. 

Conclusion 

A CISO-approved backup solution is one that is robust, reliable, and secure. It involves regular testing, strong compliance with regulations, effective identity management, and a balanced approach to data security and collaboration. If you have active backup that is also used on a daily basis for file recovery, for example, the chance that it works and that your organization knows how to use it is significantly raised in case of a large-scale incident. 

CybersecurityData protectionBusiness continuityCompliance

About Version 2 Digital

Version 2 Digital is one of the most dynamic IT companies in Asia. The company distributes a wide range of IT products across various areas including cyber security, cloud, data protection, end points, infrastructures, system monitoring, storage, networking, business productivity and communication products.

Through an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which include Global 1000 enterprises, regional listed companies, different vertical industries, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.

About Keepit
At Keepit, we believe in a digital future where all software is delivered as a service. Keepit’s mission is to protect data in the cloud Keepit is a software company specializing in Cloud-to-Cloud data backup and recovery. Deriving from +20 year experience in building best-in-class data protection and hosting services, Keepit is pioneering the way to secure and protect cloud data at scale.

Top 10 considerations for a recovery solution RFP

As we all know, the threat of ransomware continues to grow, and so does the importance of ensuring that your business remains resilient and prepared to respond to and recover from ransomware attacks. To help you with your ransomware readiness, ESG (Enterprise Strategy Group) has created “The Ransomware Preparedness Top Ten Recovery Solution RFP” in their report focused on ransomware readiness and cyber resilience.

Here’s what they find are the 10 most important considerations when selecting solutions for data recovery, which will help you shortlist potential data backup and recovery platforms.

Vendor selection checklist key considerations:

1.       Data encryption (at rest and/or in flight)

2.       Ability to protect SaaS data

3.       Ability to detect ransomware in data copies/backups

4.       Integrated cloud services capabilities

5.       Ability to recover to any point or location

6.       Ability to protect endpoint devices

7.       Ability to protect virtual machines

8.       End-to-end recovery services

9.       Protected/immutable data copies/backups

10.   Continuous data protection/replication/journaling

Understanding these factors will help guide you toward writing a more effective proposal and to evaluate and select the most effective backup and recovery services for your organization’s needs. Let’s look a bit more deeply into each of them.

Read the full ESG report

 

Top 10 considerations for ransomware recovery solutions

Creating an RFP (request for proposal) for ransomware recovery solutions is a critical task, so let’s expand a bit on why each pointer ESG has identified is important and also add some key considerations that can be included to help you build the best protection portfolio for your specific needs.

Of course, before you can do so, you need to evaluate which data has value to your business and is most critical to back up since no single solution does everything. For instance, those solutions focusing on on-prem VM aren’t going to be able to cover all SaaS. Likewise, if a solution is optimized for cloud data, it’s not going to be strong for on-prem configurations. So, considering your specific data protection needs beforehand will help you have the right tool for the right job:

1. Data encryption (at rest and/or in flight)

Importance: Data encryption is crucial for protecting sensitive information from unauthorized access and ensuring data integrity. Encryption at rest protects data stored on disks and storage devices, while encryption in flight secures data during transmission.

Considerations:

• Encryption standards: Specify the encryption algorithms (e.g., AES-256) and protocols (e.g., TLS, SSL) that the solution must support.

• Key management: Detail the requirements for key management practices, including generation, storage, rotation, and destruction.

• Compliance: Ensure the solution meets industry standards and regulatory requirements (e.g., GDPR, HIPAA).

• Performance impact: Evaluate the impact of encryption on system performance and backup/recovery speeds.

2. Ability to protect SaaS data

Importance: With the increasing adoption of SaaS applications, more and more business-essential data is stored in SaaS applications, therefore ensuring the protection and backup of data hosted in the cloud is vital for business continuity, compliance, and more.

Considerations:

• SaaS integrations: Identify specific SaaS applications (e.g., Office 365, Salesforce) and ensure the solution supports seamless integration.

• API support: Ensure the solution can interact with SaaS APIs for automated backup and recovery.

• Data ownership: Clarify data ownership and access rights in the context of SaaS providers’ terms of service.

• Recovery options: Provide details on how data can be restored, including granularity (e.g., individual items vs. entire datasets).

3. Ability to detect ransomware in data copies/backups

Importance: Early detection of ransomware within backup data can prevent the spread and mitigate damage.

Considerations:

• Anomaly detection: Ensure the solution includes advanced anomaly detection techniques to identify unusual patterns indicative of ransomware.

• Scanning tools: Integrate with malware scanning tools to analyze backup data.

• Monitoring/notification systems: Set up real-time alerts for detected anomalies or potential ransomware activity.

• Historical analysis: Implement capabilities to review historical backup data for signs of previously undetected ransomware.

4. Integrated cloud services capabilities

Importance: Leveraging cloud services for backup and recovery enhances scalability, reliability, and accessibility.

Considerations:

• Cloud providers: Specify preferred cloud providers (e.g., AWS, Azure, Google Cloud) and their service offerings, while also considering data protection best practices, such as air gapping in line with the 3-2-1 backup rule.

• Cost management: Tools for monitoring and managing cloud storage costs. Many providers have additional costs based on, e.g., consumption, egress/ingress, retention, archiving departed users, and more.

• Disaster recovery: Utilize cloud for disaster recovery solutions with geographically dispersed data centers.

5. Ability to recover to any point or location

Importance: Flexibility in recovery options ensures that data can be restored to different points in time or alternate locations as needed.

Considerations:

• Granularity: Support for granular recovery points (e.g., hourly, daily) to minimize data loss.

• Flexibility: The ability to prioritize and recover the most critical data first is vital for ensuring business continuity.

• Cross-platform recovery: Ensure compatibility across different platforms and environments. Multi-workload coverage from a single provider provides additional value.

• Testing: Regularly test recovery processes to ensure reliability.

• Failover mechanisms: Include automatic failover options for critical systems.

6. Ability to protect endpoint devices

Importance: Endpoint devices are often the entry points for ransomware attacks. Protecting them is essential for overall security.

Considerations:

• Endpoint agents: Deploy lightweight agents on endpoints to monitor and protect against ransomware.

• Centralized management: Centralized dashboard for managing and monitoring endpoints.

• Data encryption: Ensure data on endpoints is encrypted.

• Backup frequency: Define how often endpoint data should be backed up.

7. Ability to protect virtual machines

Importance: Virtual machines (VMs) are integral to modern IT environments. Their protection is critical for maintaining business continuity.

Considerations:

• Hypervisor compatibility: Ensure support for major hypervisors (e.g., VMware, Hyper-V).

• Snapshot management: Use VM snapshots for efficient backup and recovery.

• Performance: Minimize performance impact during backup operations.

• Disaster recovery: Integrate with DR solutions for automated VM recovery.

8. End-to-end recovery services

Importance: Comprehensive recovery services ensure that all aspects of data and system restoration are covered.

Considerations:

• Service levels: Define SLAs for recovery time and recovery point objectives.

• Support: 24/7 support and clear escalation paths.

• Testing and validation: Regularly test recovery processes and validate data integrity.

• Documentation: Detailed documentation of recovery procedures and guidelines.

9. Protected/immutable data copies/backups

Importance: Immutable backups cannot be altered, deleted, or encrypted by ransomware, ensuring data safety.

Considerations:

• Immutability features: Implement write-once-read-many (WORM) technology.

• Retention policies: Define retention periods for immutable backups.

• Access controls: Restrict access to backup data to prevent tampering.

• Storage solutions: Use storage solutions that support immutability.

10. Continuous data protection/replication/journaling

Importance: Continuous data protection (CDP) and replication ensure minimal data loss and quick recovery.

Considerations:

• Replication methods: Choose between synchronous and asynchronous replication based on requirements.

• Data journaling: Implement journaling to track and store changes for quick rollback.

• Network bandwidth: Optimize replication processes to minimize network bandwidth usage.

• Recovery flexibility: Provide options for rolling back to specific points in time.

Conclusion

By addressing these key areas in your RFP, you’ll be better equipped to evaluate vendors and select a ransomware recovery solution that meets your organization’s specific needs. This comprehensive approach will help ensure the robustness and reliability of your data protection strategies. Ultimately, understanding your overall security structure will help you understand which tools you’ll need to use.

 

This blog article is part of a series of articles on ransomware resilience and the key role data protection plays in ensuring business continuity. Below are the three other related articles in the series for further reading.

To continue learning more about ransomware backup protection, watch our on-demand webinar.

About Version 2 Digital

Version 2 Digital is one of the most dynamic IT companies in Asia. The company distributes a wide range of IT products across various areas including cyber security, cloud, data protection, end points, infrastructures, system monitoring, storage, networking, business productivity and communication products.

Through an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which include Global 1000 enterprises, regional listed companies, different vertical industries, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.

About Keepit
At Keepit, we believe in a digital future where all software is delivered as a service. Keepit’s mission is to protect data in the cloud Keepit is a software company specializing in Cloud-to-Cloud data backup and recovery. Deriving from +20 year experience in building best-in-class data protection and hosting services, Keepit is pioneering the way to secure and protect cloud data at scale.

Keepit platform named winner at the 2024 SaaS Awards

Keepit named winner in the 2024 Cloud SaaS Awards program in “Best Use of SaaS in a Cloud Ecosystem” category.

COPENHAGEN, DENMARK. August 13, 2024 – Keepit, a global provider of a comprehensive cloud backup and recovery platform, announced today its success in the 2024 Cloud SaaS Awards program by being named a winner in the “Best Use of SaaS in a Cloud Ecosystem” category. Keepit was also a finalist in the “Best Security Innovation in a SaaS Product (SME)” and “Best Security Innovation in a SaaS Product (Enterprise)” category.

A long-established awards program spanning 56 categories, The SaaS Awards recognizes the leading innovations and applications of software-as-a-service solutions across a wide range of use cases and sectors. The program received entries from organizations worldwide, including North America, across Europe, and APAC.

 

“The Keepit platform is a must for companies looking to ensure cyber resiliency. We are honored to have been named as a winner at the 2024 SaaS Awards. This, alongside the slew of other recent accolades, underscores our cloud native roots and commitment to providing our customers with best-in-class data protection”, says Michele Hayes, CMO at Keepit.

 

CEO of The Cloud Awards, James Williams, said: “We’re thrilled to reveal the winners of the 2024 SaaS Awards after three intense rounds of judging. It’s been an outstanding edition of the awards this year, and the team and I would like to thank all those organizations that entered.

 

“Keepit has demonstrated an unwavering commitment to innovation and excellence and is a more than deserving winner of Best Use of SaaS in a Cloud Ecosystem. The caliber of the finalists this year was particularly high, which is a testament to this wonderful achievement.

 

“A huge congratulations to Keepit, and to all of 2024’s winners. We are extremely excited to see how they continue to drive the industry forwards in the coming years.”

Secure by design, the Keepit cloud is owned and run by Keepit. Customer data is kept in a separate, dedicated infrastructure, with the backed-up data stored fully isolated from the SaaS vendor’s cloud. With a user-friendly interface, robust data security, and the ability to adapt to your cloud environment, Keepit ensures your data is always accessible and protected.
Recognition for the Keepit platform

 

The Keepit platform has also been named “Best Cybersecurity Backup Service” by the Business Awards UK, 2024 Cybersecurity and Resilience Awards and “Best Security Solution for Data Management / Data Protection” by the Cloud Security Awards 2024. Keepit was recognized in four categories at the Global Infosec Awards 2024 (at RSA), including “Most Innovative Compliance”, “Publisher’s Choice Cyber Resilience”, “Best Product Data Recovery”, and “Hot Company Ransomware Recovery”.

 

 

About the Cloud Awards

The Cloud Awards is an international program which has been recognizing and honoring industry leaders, innovators and organizational transformation in cloud computing since 2011. The Cloud Awards comprises five awards programs, each uniquely celebrating success across cloud computing, software-as-a-service (SaaS), cloud security, artificial intelligence (AI), and financial technologies (FinTech).

Winners are selected by a judging panel of international industry experts. For more information about the Cloud Awards, please visit https://www.cloud-awards.com/.

About The Cloud Awards Program

The Cloud Awards identifies and celebrates the most innovative organizations, technologies, individuals and teams in the world of cloud computing. The program spans 36 categories, including ‘Best Cloud Infrastructure’ and ‘Best Cloud Automation Solution’.

 

About The SaaS Awards

The SaaS Awards focuses on recognizing excellence and innovation in software solutions. Categories range from Best Enterprise-Level SaaS to Best UX or UI Design in a SaaS Product.

About Version 2 Digital

Version 2 Digital is one of the most dynamic IT companies in Asia. The company distributes a wide range of IT products across various areas including cyber security, cloud, data protection, end points, infrastructures, system monitoring, storage, networking, business productivity and communication products.

Through an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which include Global 1000 enterprises, regional listed companies, different vertical industries, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.

About Keepit
At Keepit, we believe in a digital future where all software is delivered as a service. Keepit’s mission is to protect data in the cloud Keepit is a software company specializing in Cloud-to-Cloud data backup and recovery. Deriving from +20 year experience in building best-in-class data protection and hosting services, Keepit is pioneering the way to secure and protect cloud data at scale.