IDX - Best New Business-to-Business Services

Company: IDX, Portland, OR
Entry Submitted By: Pinkston
Company Description: IDX is the only consumer privacy company built for agility in the digital age. Thousands of organizations trust their privacy platform to empower consumers to take back control of their privacy with their identity and privacy protection products. As the nation's largest provider of data breach response services, IDX is trusted by protects more than 40 million consumers.
Nomination Category: New Product & Service Categories
Nomination Sub Category: Business-to-Business Services

Nomination Title: IDX's Post Breach Care Service

IDX Breach Response Service is an updated version of an existing service. The update, which added a post-breach care component, was launched October 15, 2020.

The IDX Breach Response Service provides organizations that have experienced a data breach with a managed service for the postal or email notification of affected individuals, on-going communications with them via call center personnel, an informational website with an FAQ on the data breach specifics and remediation steps taken by the organization, as well as providing free to the affected individuals an identity monitoring and recovery software & services product for their protection from the privacy risks associated with the data breach. This service is managed by an IDX project manager that works closely with privacy counsel, the cyber insurer, as well as technical resources doing the forensic analysis of the breach situation.

This service has several specific benefits to the breached organization. First, because IDX managed over 700 data breach responses in 2020, the execution of every element of the service, as well as the efficacy of the identity monitoring and recovery product, is proven and seamless. Next, because breaches can impact thousands to millions of individuals, IDX is able to scale its service in order to notify by mail (a regulatory requirement), interact via phone, enroll in the identity protection offering, and service those individuals with typically a week of notice. Lastly, data breach response exposes organizations to both legal/regulatory risks as well as reputational/customer satisfaction risks. The IDX Breach Response Service is designed in such a way as to enable both of these risks to be effectively addressed by the client.

Finally, the IDX service was enhanced on October 15, 2020 in order to provide for Post-Breach Care of the affected individuals. This expansion to the service will automatically enroll individuals, after the timeframe paid for by the breached organization, which is typically 12 months, into a free dark web and social media monitoring software solution in order to provide them with ongoing monitoring for identity theft. This can be of tremendous value because the period of time between the actual data breach hack, and the identity theft and fraud of the individuals impacted by the breach, can often be as long as several years.

The IDX Breach Response Service is the leading such service in the United States. IDX is trusted by over 1,000 Fortune 500-sized organizations to provide them with a master services agreement for any/all future data breach incidents that will require notification and response and has a 96% client referral rate. IDX also managed over 700 data breach responses in 2020 for organizations and breaches of all sizes every year, growing that by 75%.

IDX currently is trusted to protect over 40 million individuals who have been impacted by data breaches, a level that continues to grow annually as the commercial data breach business is growing at over 30% CAGR. IDX is also listed on the panels of 10 of the top 12 cyber insurers (by underwritten premium) and has managed data breach responses for 7 of the top 10 law firms that are active in breach response. Some customer testimonials from attorneys include, “I just wanted to drop you a quick note to let you know how wonderful the IDX PM team were on a recent notification,” “You are magic. Thank you! Thank you very much for all your hard work and flexibility, and that of your teams as well,” and “You always do a great job with everything and are very diligent.”