MGA : TPA
“ All too often , we hear how the latest product will be the saviour of cybersecurity for overstretched and underresourced IT teams ”
CARMINE DEL GUERCIO MAZARS
“ Insurtechs are part of a highly integrated ecosystem of multiple firms , covering everything from claim management , quotation and policy management to customer web portals , complex processing and analytics . We know that the attack surface has expanded to the extent that there is no real traditional security perimeter for businesses . The confidentiality of customer data is a key asset , as well as intellectual property from some of the newer insurtech players using proprietary technology .”
The emergence of more sophisticated phishing campaigns and business email compromise also remain significant threats . “ We see drive-by attacks and social engineering also increasing . We have seen major supply chain attacks over the past 12 months – Solarwinds , Kaseya , Log4j – affecting all industries ,” he says .
Nigel Jones , co-founder of Privacy Compliance Hub , agrees , but believes getting companies to adequately train their staff to fend off and fortify systems against attack is a leading cause of breaches . " Your greatest cybersecurity threat is your staff , but you obviously can ' t get rid of them , nor should you . The reason for this is that it is one of your people who will mistakenly leave the door open for a cybercriminal to walk through , either physically or virtually ."
He goes on to explain further : “ They need to engage their people in an effective way to care about privacy and security . If people understand the seriousness of these issues from a personal point of view , they will care sufficiently to make sure that such risks are minimised whilst they are at work . Getting your staff to do a training session is insufficient ; it ’ s about building and maintaining a culture of continuous compliance ."
Cybercrime technologies can help prevent hacks New technologies in this space are key to helping prevent cybercrime events , although the situation is akin to a continual game of cat and mouse : as new protections emerge , hackers routinely work to find ways around them . insurtechdigital . com 87