IOT product security is becoming a much bigger challenge for manufacturing companies who are producing products to meet consumer needs.
Through recent years we have embraced and welcomed IOT products into our homes and businesses by foreseeing their potential to enhance our lives, with many sectors including retail, financial, manufacturing and healthcare have benefited from the technology which has enabled processes to be automated by the touch of a button through a smartphone app.
The issue is that whilst there is consumer demand for more of there types of products and services, however sadly IOT security is becoming a greater issue. This means that innovators are apprehensive about bringing new products to market in fear that a cyber attack could hack the product or otherwise could use the product as a means of access to infiltrate into other IOT connected products.
This means that whilst innovators may have a great idea for a new product, they fear that protecting it, is a far greater challenge. Because of this, they are becoming a little more reluctant to expand ideas further.
IOT security is the greatest challenge for businesses
Defining the level of IOT security within the product is essential. In a recent article by vanillaplus.com – Three questions network operators should ask about IoT security, they encourage innovators ask the questions:,
“How are your on-net, inbound, and outbound IoT roamers protected from signalling attacks?”
“Do you know if the IoT devices are behaving as they should?”
“Can you identify if a rogue device is acting in isolation or is part of a wider attack?”
By understanding the IOT device and its behaviours, manufacturers can work towards tightening IOT security within the early stages of production. IOT products are not going away, they are here to enhance businesses and homes for the future and so networks also have a duty to support these types of products and how their security in managed.
Are you looking for IOT insurance to support your business? As specialists in IT insurance, here at Crendon Insurance we support companies with a range of IT insurance policies which cover many aspects of IOT security, cyber attack insurance and GDPR data protection. To find out more or if you are a start-up business, please speak to our IT insurance team or see our website for more details.
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