Protecting policyholders’ identity data from ever increasing cyber attacks is essential for insurancecompanies as they are encouraged by customers to allow more digital access.
FedRAMP High far exceeds industry’s best practices such as NAIC’s Insurance Data Security Model Law, and NYDFS
FedRAMP has re-defined cloud security. It is a requirement for all U.S. Agencies including the Department of Defense
Modernize the organization and securely work with third parties
Cybercriminals recognize that insurance companies possess large amounts of personal information on their policyholders, making the insurance industry an increasingly attractive target.
However, only 20% of industry CEOs consider their companies prepared for a cybersecurity event. Cybersecurity measures are critical for insurance firms if they are to maintain trust with customers and stakeholders.
Recent breaches such as First American Title Company, Premera Blue Cross, Ameritas, and Anthem highlights the potential vulnerabilities.
Strengthening Cybersecurity in the Insurance Industry
While every industry can be the target of a cyberattack, the insurance industry is under constant threat. In fact, cybersecurity is a significant and growing concern for the insurance sector. According to a recent study, during a two year period over 100 million Americans had their personal information compromised through data breaches in the insurance industry.
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