The insurance sector faces massive pressure to embrace digitalization and innovation. Customers increasingly demand 24/7/365 services anywhere on their preferred device, which increases the risk of cyberattacks. The insurance sector is a natural target for cyber-attacks because of the large amount of personal data they store about policyholders. This data enables them to provide more personalized services and products to customers, making them more willing to share sensitive personal data. In contrast to other industries, where data breaches often affect only financial data, in the insurance sector, it typically means loss of protected personal sensitive information about individual customers.
The impact of a cyberattack on an insurance company is often multifaceted. In addition to monetary loss companies will often face:
In a rapidly interconnected and digitalized online marketplace cyberattacks are inevitable. Seeing as it is eutopic to think that a company can completely escape every threat, it is much better to be constantly vigilant and prepared for such attacks by:
Cryptomathic is a leader in cryptographic technology and provides organizations in the insurance sector with reliable and high-quality solutions to meet all their data security needs and compliance needs. Our adaptive solutions in the field of mobile app security, key management, qualified electronic signing, and crypto-agility give you maximum usability without compromising on data protection, letting you focus on what matters: growing your business.
Cryptomathic’s solutions are aimed at addressing requirements for:
Are banking and payment apps adequately secure against known and unknown attacks? Understand the threat landscape and how MASC's evolutionary security strategy can overcome such threats and provide
360º protections against attacks.
This white paper provides a business-focused look at the challenges of managing cryptography in the financial sector and the benefits available from a centrally managed, agile cryptographic platform.
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