CONCLUSION
on their security posture , thus enabling continuous improvement and plugging security gaps . Policyholder onboarding should preferably include training to improve cyber awareness , including what to do in the event of an attack .”
CONCLUSION
“ IT security will need to keep pace with the evolving threat landscape and how it relates to both the compliance needs of the business and / or the risk appetite the organisation has adopted ,” Heaven says .
Indeed , as previously discussed , security and compliance will forever remain an ongoing process and never a fully-realised state of being . However , by following these three steps , insurers can build a faster , more efficient and ultimately more compliant business than ever before ( kompany estimates a 50 % reduction in costs and 90 % less time wasted ).
Taking these factors into consideration , there is no reason that insurers can ’ t turn the ‘ burden ’ of maintaining IT security into an asset for gaining a competitive advantage .
65 insurtechdigital . com