A Lucrative Target
The insurance industry deals in vast amounts of confidential information about customers which is in the form of information about credit cards, Bank details, personal details , health insurance, etc. Thus, insurance companies are potential targets for cyber-attack. Any security breach can extremely damage the insurance companies. Consequences can be loss of customer trust, loss of fame, leading to decrease in business profits. Moreover, due to such breaches customers are open to fraudulent payments ,identity theft, & other attacks. Hence, it is crucial that Cyber Security in Insurance industry not be ignored.
According to regulations , it is mandatory for insurers to maintain customer data in secure environments. Furthermore, insurers must be able to demonstrate compliance to security standards. Failing this, insurers can be fined high penalties for non-compliance.
Who Should be Prepared?
Insurers could be a merchant or a financial institution. They both, accept and store payment and other personal details for insurance policy premiums. Hence, both of these has to comply as per specific ISMS and PCI Compliance standards.
How Can Xiarch Help?
Xiarch Solutions, bring years of experience in implementing PCI and Information Security standards in a variety of industries. We assist insurers to achieve total compliance to PCI DSS and ISMS. Apart from it, we also ensure cyber security is implemented in insurance workflows. Thereby, we help in providing a secure environment and applications for clients.
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Xiarch Security is an global security firm that educates clients, identifies security risks, informs intelligent business decisions, and enables you to reduce your attack surface digitally, physically and socially.
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Our security experts are exceptionally qualified and confirmed by CEH, ECSA, OSCP, CISA, CISSP, and numerous others.
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