Grant Hester, Founder & CEO of Linchpin
Today’s insurance agencies – large and small – cannot afford to ignore the cybersecurity elephant in the room. The large volume of personal data that these agencies manage has made them prime targets for hackers, and if a breach occurs and client information becomes compromised, policyholders may be prompted to take legal action against the agency.
But that’s not all – as a result of a breach, the agency can experience a drop in revenue, loss of its good reputation, and substantial fines. Now’s the time to look at crucial background elements needed to help support your insurance businesses’ cybersecurity infrastructure and better mitigate your risk exposure.
The following tools can make a big impact on reducing the risk of a cyberattack:
Application Management
Identifying cybersecurity risks and protecting your agency requires application management with a multilayered approach. You can find solutions to specific business cybersecurity challenges facing your agency by improving the efficiency of processes between physical devices and integrating automation and security tools that can identify and quickly respond to threats.
Custom Security Awareness
Managing every employee to ensure they consistently apply security best practices can be a daunting task – not to mention an inefficient one. The use of customized and automated security programs, including those that can help prevent social engineering and phishing attacks, can make it much simpler to improve security awareness throughout the agency and reduce risks due to human error.
Logging Tools
Cybersecurity logging and monitoring areintegral components for maintaining a robust cybersecurity infrastructure. If your agency’s system is breached and an incident response plan is needed, event logs can quickly determine where the compromise started and how. At that point, any unauthorized activities or attempts can be removed and further investigation can commence. These types of cybersecurity applications are effective tools that can help you quickly detect anomalies in client and user activity that could pose a risk to your business.
Endpoint Detection and Response
It’s vital to develop an all-encompassing framework with centralized security monitoring for your agency’s cloud and on-premises networks. According to McAfee, by implementing an integrated endpoint detection and response security program, your agency can benefit from:
Hackers and scammers are among the most dangerous threats to your insurance business. Don’t wait – take extra steps to protect your agency’s cybersecurity infrastructure by taking advantage of today’s advanced cybersecurity tools.
Grant Hester is the founder and CEO of Linchpin, an insurtech company that provides automation and integration solutions for insurance agencies, clusters, and aggregators. If you don’t have time to deal with automating your insurance business, Grant and the team at Linchpin can help.
Visit linchpininsurtech.com to learn more, and don’t miss Grant’s live presentation at the IAIP International Convention on June 12th at the Community Café.