Akamai Technologies [NASDAQ:AKAM]: Unmatched Reliability, Security, and Visibility

Rich Bolstridge, Chief Strategist, Financial Services, Akamai TechnologiesRich Bolstridge, Chief Strategist, Financial Services
The advent of the digital revolution has brought new approaches of doing business and interacting in the insurance industry. Organizations are increasingly embracing digital channels and native mobile applications to deliver better experiences to their customers and agents, and also gain a competitive edge. Nevertheless, it is vital to understand that these digital channels are dependent on the Internet, and therefore vulnerable to reliability, performance, and security issues. “Our job is to make the Internet fast, reliable and secure to help insurance companies achieve their digital transformation goals,” exclaims a very enthusiastic Rich Bolstridge, Chief Strategist, Financial Services, Akamai Technologies. “Digital Transformation cannot be achieved in the insurance industry without security,” adds Bolstridge. To serve the complex and intense security demands of insurance companies, the Cambridge, MA-based company has a suite of cloud-based products—to fortify websites and mobile applications.

Akamai’s Kona Site Defender is designed to protect websites from a wide range of online threats, including network and application layer Distributed Denial of Service (DDoS) attacks, before they reach the data center. This cloud-based web application firewall has black listing and a flexible, powerful rules engine. The company also offers Prolexic Routed, a managed DDoS service designed to protect the entire infrastructure of the data center. “When a customer is under attack, they can route their traffic through our scrubbing centers where our Security Operations Center (SOC) staff mitigates the attack and forwards clean traffic to the data center,” says Bolstridge. As the frequency and complexity of cyber attacks increase, companies that host their own Domain Name System (DNS) servers are particularly vulnerable to DDoS attacks. Akamai’s cloud-based, Fast DNS service is architected for performance and availability, and can maintain a fast experience even through the largest DDoS attacks.

Digital Transformation cannot be achieved in the insurance industry without security

Additionally, the company’s intelligent platform continually maps the Internet to accumulate a comprehensive knowledge of network conditions, provide instant device-level detection and optimization, and identify, absorb, and block security threats.

Akamai has been delivering best-of-breed security defenses and practices for information sharing to insurance companies that are vulnerable to attacks. “Some of our clients have received extortion letters from the notorious group ‘DD4BC,’ demanding payments with threats of bringing down their services. We are an answer to those letters!” emphasizes Bolstridge. The company has helped many such clients improve their security, especially with their business objectives around mobile and digital workforce.

What makes Akamai exclusive is its highly distributed intelligent platform, which delivers up to 30 percent of all Web traffic, across different industries, and its capacity to handle colossal attacks—20-40 attacks on a typical day. “We have over 6000 employees, and over 3000 of them deployed in R&D, which is massive compared to our competitors,” says Bolstridge. As the evangelist for the financial services industry, Bolstridge has steered Akamai to gain the trust of customers who depend on the company with their most valuable assets. Being aware of the fact that trust doesn’t come easy, he wants to continue delivering world-class solutions for insurance companies and help them grow.

What lies ahead for Akamai? The company plans to launch a new product called the Bot Manager, which will identify, mitigate and manage Bot traffic. Branch connectivity is also a priority for Akamai. “Today, insurance companies have massive network infrastructures to support branch offices, and our Akamai Connect product aims to bring Akamai security and performance to the branch,” concludes Bolstridge.