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The Benefits of Good Network Security - Insurance

Insurance is not outside the grasp of ever changing world of technology. Improvements in connectivity between business and customers and customers with each other are only the beginning of the changes. It will be important to learn about some of the things that insurers may have to worry about when it comes to technology of the future, and how outsourcing your IT needs to a managed service provider will allow you to stay ahead of the game. One of the most important parts of these technology advancements is making sure your network security is up to date.

RISK LANDSCAPE IS CHANGING

While technology used to lean towards reducing risk, society has transitioned to accept things like driverless cars and robotics and insurers will be navigating a winding path.  According to CNN, each day there are one million new malware threats released.  As the use of technology increases, so will the amount of threats. You do not have time to keep up with new technology and the threats that come along with it. With a MSP keeping your network security up to date and remotely monitoring your networks you will not have to worry about one of the millions of new malware threats.

You are an insurance agency and in the future your job is going to be hard enough figuring out who is liable when artificial intelligence controlling a vehicle goes haywire, or a software bug downloaded to millions of cars wreaks havoc. You shouldn’t have to worry about your network security too.

POLICYHOLDERS WILL NO LONGER BE PREDICTABLE

Looking ahead, insurance companies are going to find themselves working along construction, medical, energy and agriculture companies and the normal breed of policy holder will change. In this upcoming environment, insurance agencies will benefit by taking part in forming partnerships with new types of firms and rethinking the role of insurance completely.

With this influx of new sensitive information, whether it be partner info or high priority client info, it needs to stay out of the reach of hackers. A MSP will provide secure cloud storage and backups so your data can remain safe and sound.

INTERACTION WITH POLICYHOLDERS WILL SKYROCKET

In comparison to other industries insurers have a lack of customer touchpoints. With the introduction of real-time data streaming insurer are able to collect more information on their policyholders than in the past. This will allow each agent to maintain an ongoing relationship with their client rather than just a claim payment relationship. Mobile devices, wearables, vehicles and other devices owned or used by the customer are becoming ways that clients can and want to interact with their agents. Insurers should consider interacting beyond the few communications that are considered normal. With the increase in communication there is also an increase in the chances that there can be a data breech. Leaving your networks (email accounts, servers, and mobile devices) open to unwanted attention will end up costing your firm.

NETWORK SECURITY AND RISK IS A TOP PRIORITY

As technology advances data is becoming and will continue to be the central currency of our time. As emerging technology increase exponentially the rate of data exchange and storage at insurance companies, carriers must be aware of the risk to their infrastructure. Not only should they be aware but they should also take precautionary measures to prevent data breaches!

Clearly the focal point of this article is Network Security. As time progresses and technology evolves, keeping your networks and software secure and up to date is vital to the success of your agency.

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