We constantly hear this concern from our customers. While they appreciate 1-2 years of credit monitoring protection, they understand their identity is at risk for a much longer period of time. AfterCare closes the gap.
Austin, TX (PRWEB) September 30, 2010
Debix, the technology leader in the consumer and corporate identity protection market, today announced a new feature of OnCall™ Credit Monitoring called AfterCare™. AfterCare addresses the consumer and regulatory concern that data breaches create a lifetime identity theft risk for consumers, and one or two years of credit monitoring after a breach is insufficient.
AfterCare meets this need by providing long-term identity repair services to consumers at no extra cost to them or to the breached organization. Now, if a consumer becomes a victim of identity theft after their credit monitoring service has expired, Debix will provide identity repair services at no additional charge. With this innovative new feature, Debix closes the gap between the risk and protection periods for data breach victims.
“We constantly hear this concern from our customers. While they appreciate the 1-2 years of credit monitoring protection, they understand their identity is at risk for a much longer period of time,” said Debix CEO Bo Holland. “AfterCare closes the gap by providing long-term identity repair and peace of mind at no extra cost.”
With the launch of AfterCare, Debix is helping organizations and brands counteract negative impacts to their reputation and bottom line, while protecting consumers from the long-term risk of identity theft.
In August 2010, Debix customer surveys revealed that over three quarters of consumers remember the company or organization associated with their breached data. In addition, 68% responded that more could have been done to remediate the breach, including a longer period of identity theft protection. Of consumers surveyed, 91% said they would enroll in long-term free identity repair services offered after ending the complimentary, full identity protection service.
Research from the Ponemon Institute, a privacy and data research think tank, shows that data breaches create “trust slippage” for brands. “AfterCare will be psychologically comforting to consumers affected by a data breach. I imagine that organizations and brands will be able to measure the improvement of trust that AfterCare creates after a security incident,” says founder Dr. Larry Ponemon.
In addition to consumer concerns, organizations and brands that experience a data breach often endure brand tarnish and customer turnover as a result of the incident, which can have a huge financial impact. According to the Ponemon 2009 Annual Study: Cost of a Data Breach report, the average cost of a data breach to US organizations is $204 per record lost, which includes the cost of activities intended to prevent loss of a consumer or consumer trust. Over 70% ($144) of the $204 pertains to abnormal customer turnover, or “churn” of existing and future customers.
Debix Inc. is the technology leader in the consumer and corporate identity protection market. OnCall™ Credit Monitoring, the proprietary mobile voice application developed by Debix, makes identity protection simple and actionable for consumers, and 9 out of 10 privacy experts prefer Debix over ordinary credit monitoring. To date, Debix has protected over 800,000 consumers.
Debix also offers comprehensive Data Breach Solutions, enabling organizations to respond to a data breach event with speed and intelligence. Fortune 500 companies, leading government organizations, and universities work with Debix to protect their brands and their customers in the event of a data breach. Debix, headquartered in Austin, Texas, is privately funded.
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