With the acquisition of Rezonate’s cloud-native capabilities and the launch of the new cloud NHI security capabilities, Silverfort is now the first and only IMDA-accredited identity security & threat detection platform for both cloud and on-prem environments, all in a single solution with real-time detection and enforcement.
This level of unified coverage didn’t exist before. It does now, with Silverfort.
What it Means: Licensed to Protect Singapore’s Organizations
IMDA (Infocomm Media Development Authority) is Singapore’s lead agency driving digital transformation. It invests in digital infrastructure, shapes data security and telecom regulations, and fosters international collaboration. Earning IMDA accreditation is a significant achievement as it signals regulatory trust and opens doors to priority projects with Singapore’s government and major enterprises, along with strong growth and expansion opportunities. Since the program’s inception 10 years ago, accredited companies have collectively raised over 1.2 billion SGD (approximately 1 billion USD) in new capital.
To earn this accreditation, Silverfort underwent a rigorous evaluation across business, technical, financial, and operational use cases. The key to Silverfort’s success was several standout identity security capabilities: extending MFA protection to previously unprotected assets, securing Non-Human Identities (NHIs) with full visibility, real-time monitoring, and proactive detection and resolution of identity misconfigurations. By unifying visibility, access control, posture management, and real-time threat detection in a single platform, Silverfort delivers comprehensive protection across both human and non-human identities.
This unified approach spans on-prem and cloud environments, enabling organizations to stay ahead of evolving threats without compromising flexibility or user experience.
Why it Matters: The Reality of Ransomware in Singapore
Ransomware in Singapore is a persistent and escalating threat. A survey conducted by the Singapore Cyber Security Agency (CSA) in 2023 found that over 80% of organizations experienced cyber incidents, often repeatedly, with ransomware as the most frequent type of attack. Of those affected, 99% reported major business disruptions, data loss, and reputational damage after being attacked. According to official data, more than 130 cases of ransomware were reported to the CSA in 2022 alone. The real numbers, the CSA believes, could be much higher, as truth be told- not every victim reports being attacked.
This national-level concern has led to the creation of the Counter Ransomware Task Force (CRTF), commissioned to bring together government agencies from diverse fields to combat ransomware. Among its key recommendations: cyber insurance should play a central role in incentivizing stronger cybersecurity, particularly for ransomware defense.
In order to qualify for cyber insurance coverage, or to maintain it, cyber insurance providers now require, and rightfully so, that organizations meet baseline identity security standards. This means:
- Maintaining full visibility into human users and NHIs, including privileged accounts
- Knowing how those accounts are used, and whether they’re still needed
- Enforcing MFA across all admin accounts
- Monitoring privileged users and NHIs
- Detecting anomalies and misconfigurations such as shadow admins
- Providing evidence through dashboards, reports, or alerts showing continuous monitoring and enforcement
Although these requirements seem pretty obvious for anyone who does not want to get ransomwared, they are also very difficult to meet. The first problem is that manually discovering all privileged accounts and NHIs is very challenging. The second problem is that many resources, such as legacy systems, command line access, and file shares, were not built to integrate modern security controls like MFA, or they are too delicate to even try and do something that may alter or break them.
Silverfort is in a unique position to help organizations comply with cyber insurance requirements and prevent malicious access in real time without disruption. Silverfort does this by delivering:
- Automatic discovery of all privileged and non-human identities
- MFA enforcement on systems that weren’t designed for it, including legacy systems and command-line access
- Continuous monitoring to spot misconfigurations like shadow admins or unused privileged accounts
- Real-time threat detection of all authentication and access attempts
Organizations using Silverfort’s platform have already reported improvements in their insurance eligibility, securing better coverage and lower premiums due to the comprehensive identity security measures in place. For example:
- West Valley School District strengthened the protection of both their user and service accounts, aligning with insurer expectations and reducing their premiums
- Optix gained full visibility into their service accounts and implemented access policies that helped close the security gaps highlighted in their insurance renewal process
- WBD enhanced their identity security posture across on-prem and cloud systems, enabling them to meet insurer requirements and maintain uninterrupted coverage.
For these exact reasons Silverfort is also trusted by leading global cyber insurers such as AIG, Chubb, Sompo, Howden, and Marsh, as a strategic solution for meeting underwriting requirements and reducing identity threats.
The Path Forward: Silverfort + IMDA
Silverfort is the only identity security & threat detection platform accredited by Singapore’s IMDA, which is a major milestone that reinforces our credibility and commitment to securing highly regulated sectors like finance, energy, and telecom. A standout example is our successful deployment at Singtel, where Silverfort secured all on-prem systems without any operational disruption, demonstrating both the platform’s effectiveness and ease of adoption.
This accreditation now applies to a platform that delivers identity security to all human and non-human identities across cloud IdPs, SaaS, and on-prem environments. With real-time visibility, policy enforcement, and threat prevention, including blocking credential access and lateral movement, Silverfort empowers organizations to stay compliant and secure. For Singapore’s public sector and regulated industries, this isn’t just an advantage; it’s a practical path toward sustainable digital transformation and ongoing compliance.
Want to learn more about how Silverfort can help you combat ransomware and comply with cyber insurance in Singapore? Talk to one of our local experts here.