Digital Security for the Insurance Market
The megatrend of Digitization has not left the insurance industry behind. Over the last few years, Insurance companies and their various stakeholders have made investments in digital processes, by embracing innovation and modernizing their systems.
As a market where reliability and trustworthiness are essential, digital environments require adequate protection.
The day-to-day operations of insurance companies are being shaped by digital processes and environments. Starting from digital business processes, such as communication with other insurance companies, stakeholders, and customers, to digital event notification and reliability at the point in time when a service was fulfilled, through to the digital authentication of components, devices, and parts to be replaced.
Cybersecurity within the insurance industry is vital because of the industry’s size and scope and the vast amounts of data consumed by companies in this sector. As an industry highly dependent on data, insurance companies must have the assurance that the data they generate, use, store, and exchange with various third parties is secured against all threats.
Outsourcing specific services to third parties, such as insurance technology companies expands the supply chain and drives the requirement for highest levels of data protection as well as security at all data access endpoints.
