Scott Hermann, Co-Owner & CEO
While businesses are doing everything possible to keep customer data secure, information is still a vulnerable target for hackers who find their way through even the most secure firewalls. In fact, according to the Identity Theft Resource Center, the number of consumer records put at risk increased by 126 percent in 2018 with 446,515,334 records exposed compared to 197,612,748 records exposed in 2017. This staggering increase means it might only be a matter of time before a business experiences a data breach. Businesses must make sure their staff is trained and prepared with a detailed plan in place to minimize the effects of an attack before it happens. Being prepared for a data breach spells faster response times with quick notifications that help customers protect themselves before identity thieves strike. IDIQ, founded in 2009 as a credit and identity theft monitoring and protection company, has expanded its brands to include DataBreachIQ services to offer the resources and expertise necessary to help enterprises prepare and recover from the ever-present risk of data security breaches. With its DataBreachIQ services, IDIQ brings businesses the planning and support they need— from pre-breach to post-breach—to be fully equipped to act if a data breach occurs.
“With IDIQ recognized as one of the fastest-growing industry leaders in credit and identity theft monitoring and data breach management, it made sense for us to offer our expertise to businesses to assist with data breach management and recovery with our new DataBreachIQ services,” said Scott Hermann, co-owner and CEO of IDIQ.
As one of the nation’s leading experts in identity theft protection, credit monitoring, and data breach management, Hermann knows the importance of overall data protection as breaches can cost companies millions of dollars and put millions of customers at risk of identity theft. According to Ponemon Institute research, a data breachcosts a U.S. business on average $8.19 million in 2018.
Costs companies incur from a data breach include the detection and escalation of the breach, customer notifications, and lost business. There also is a risk of regulatory and consumer legal action. The research found smaller businesses are more targeted and more at risk than large companies. Businesses need preparation, planning, and support to act quickly in the event of a data breach—and that’s exactly what DataBreachIQ services provide. DataBreachIQ services include a dedicated account manager to help each business develop a customized response plan, response preparation resources, discounted credit and identity theft monitoring products for employees, and a secure partner portal along with cyber insurance coverage available through the North American Data Security Risk Purchasing Group. Services also feature security awareness training that includes education, phishing tests, ransomware simulators, and other training tools to help prevent a cyberattack.
When a business experiences a data breach, the DataBreachIQ response team provides available assistance to the company with customer notification fulfilment and support, maintains a dedicated website for customers to understand specifics about the breach, a U.S.-based customer service team to receive calls from affected customers, a consumer and customer service script, legal referrals, and public relations assistance.
Customers of the affected business also may receive post-breach benefits with a dedicated toll-free number, identity theft and credit monitoring, identity theft resolution case managers, U.S.-based customer service and support, and up to $1 million in identity theft insurance underwritten by AIG.
Hermann said data breach management is essential for any company operating today.
“If you read the headlines, you know data breaches are in the news almost daily,” he said. “Companies need to be prepared – and our expert teams can help.”
Hermann said the new DataBreachIQ services are part of the impressive IDIQ roadmap with up-and-coming brands aimed to protect businesses and consumers and their ever-changing needs. Along with DataBreachIQ services, IDIQ operates its flagship IdentityIQ brand that offers credit and identity theft monitoring and protection along with the CreditScoreIQ and CreditReportIQ brands for delivering credit information, education, and protection to consumers and businesses.
Hermann has helmed IDIQ since 2017, leading the company to consecutive years of triple-digit growth.