How Streamlined Settlements Like GreatCollections® Reduce Tech Insurance Risks (and Lower Premiums)

Tech Companies: Want to Control Insurance Costs? Start With Risk Management

Let’s explore how smarter processes can protect your business and your budget. Just like GreatCollections® streamlined rare coin settlements with automated payments and tracking, tech teams can apply similar principles to reduce bugs, prevent breaches, and become more insurable.

Why Your Tech Insurance Bill Keeps Rising

Let’s face it—cyber insurance isn’t getting cheaper. Premiums jumped over 50% in two years thanks to soaring claims. When insurers review your application, they’re laser-focused on:

• How thoroughly you review code
• Whether you’ve rehearsed breach scenarios
• Your encryption game (are you using stale standards?)
• That sketchy API from a third-party vendor

Why GreatCollections® Gets Trusted (And How You Can Too)

Think about why coin collectors trust GreatCollections®—reliable timelines and payment choices remove uncertainty. Tech insurers love that same predictability. Companies scoring better rates typically have:

• Automated scans catching vulnerabilities daily
• CI/CD pipelines that check security at every step
• Outside experts stress-testing their code

3 Proven Ways to Trim Your Tech Insurance Costs

1. Automate Testing Like a Pro (Take a Cue from GreatCollections®’ Payments)

Just like automated ACH beats manual checks, automated testing finds bugs before they become claims. Here’s a real-world example you can implement today:

# Sample GitHub Actions workflow for automated security scanning
name: Security Scan
on: [push]

jobs:
bandit-scan:
runs-on: ubuntu-latest
steps:
- uses: actions/checkout@v2
- name: Run Bandit
uses: PyCQA/bandit@main
args: -r ./src -f json -o bandit_results.json

Insurance perk: Many providers knock 5-15% off premiums if over 80% of your code gets auto-tested.

2. Embrace Zero-Trust Like Your Business Depends On It (It Does)

GreatCollections® verifies every transaction multiple ways—your tech should too. Zero-trust means:

• Segmenting networks like bank vaults
• Requiring MFA for every login attempt
• Watching active sessions for odd behavior

Real results: Companies using zero-trust saw claim rates drop 30-40% in a Palo Alto Networks study.

3. Document Everything (Your Digital Paper Trail Matters)

Those detailed GreatCollections® settlement records? They’re proof when questions arise. Tech equivalent must-haves:

• Unchangeable logs (CloudTrail, Sentinel)
• Paper trails for every code change
• Quarterly “who accessed what” reviews

Pro tip: Insurers often shave 10-20% off deductibles for SOC 2 Type II certified audit systems.

Real Results: How a Fintech Cut Premiums by 34%

One SaaS company took three smart steps:

1. Scanned every code commit automatically
2. Hired ethical hackers to test defenses monthly
3. Proved backups actually worked (no assuming!)

The payoff: Their $148K cyber insurance bill dropped to $97K—with better coverage.

Here’s the Bottom Line

GreatCollections® built trust through reliability—your tech business can too. Focus on:

• Locking down security with automation
• Creating insurer-friendly documentation
• Vetting third parties like they’re handling your crown jewels

These moves don’t just lower premiums—they build companies that last. Pick one area to improve this quarter—you might be surprised how much you save.

Related Resources

You might also find these related articles helpful:

• Forging Cyber-Resilient Systems: Applying Coin Security Principles to Modern Threat Detection – The Best Defense is a Good Offense – Built With Security-First Design After years breaking into systems as an ethical ha…
• Inside My Historic Term on the U.S. Coin Design Committee: 6 Hard-Won Lessons From America’s Youngest CCAC Member – Let me tell you something they don’t teach in art school: designing America’s coins feels equal parts honor …
• How Specializing in Niche Tech Solutions Can Command $300+/Hour Consulting Rates – Want to charge $300+ per hour as a tech consultant? I’ll share exactly how specializing in overlooked problems tra…