ThreatMetrix: Forensically Spotting Cybercriminals and Preventing Insurance Fraud

Top 10 Security System Solution Companies - 2016

The economy continues to gain strength, with GDP on the rise and unemployment rate steadily falling. While all of this seems favorable for insurers, the proliferation of highly publicized breaches in varying sectors has made network security and privacy liability a concern for insurance firms. Cyber attacks against financial services institutions, including insurance companies, are becoming increasingly frequent and sophisticated. This is partly driven by attackers’ tendency to share critical corporate information and work together in orchestrating an attack. Similarly, the time has come for insurers to forgo their outdated practices and fast track the development of protective strategies by collaborating with other financial institutions that face similar risks.
With experts predicting cyber criminals to attack through wearable devices, employees’ home systems, cloud services, and automobiles this year, insurers need to boost their security knowledge and adopt novel methods to keep the attackers at bay. Big data will be a crucial asset to insurance firms in this regard—the quality and speed of cyberthreat analysis will see a jump as the use of real-time analytics spreads across structured and unstructured data sources.

Another aspect not to be taken lightly is the adverse consequence of enterprises partnering with third parties. Businesses are becoming more aware of the risks inherent to working with third parties. Insurers are now actively monitoring third parties and ensuring that protective measures are built into third-party products and services.

Like the already existing cyber attack channels weren’t enough, a potentially disturbing scenario that experts predict is not far off is—individuals receiving payments to share their personal data. This will essentially result in hackers manipulating markets in their favor through financial intelligence gathering. While realistically this not likely to happen for another few years, insurance firms better be prepared for all possible scenarios and consequences; for technological advancements aid both financial institutions and cyber criminals alike.
On that note, Insurance CIO Outlook presents to you its special edition on the current security ecosystem to assist businesses thwart the cyber attackers. As the industry enters a year of increasingly heightened cyber-vulnerability, let us know how valuable this edition proved to be in your enterprise endeavors.

    Top Security System Solution Companies

  • Empowers insurance agents with collaboration tools for better communication and workflow efficiency.

  • Leading global insurance companies trust Akamai’s Cloud Security Solutions to stop the largest attacks while optimizing digital experiences for any device, anywhere.

  • A premier provider of managed security risk assessment solutions protecting billions of dollars in assets for clients around the globe. Vulnerability scanning, penetration testing, and security awareness training are DDI’s most popular offerings each of which proactively improve the security of an organization’s confidential data

  • Provides smartly engineered network security and communications solutions that enable businesses to monitor, manage, and secure their networks.

  • Provider of cyber security solutions for protecting insurance data and network from spam, viruses, malware.

  • Protegrity is a leading enterprise data security software company, providing high performance, infinitely scalable, end-to-end data security solutions.

  • An identity and authentication provider for organizations that deliver online consumer services.

  • Provides a security analytics platform for detection, monitoring, investigation and management of information security threats and risks.

  • A provider of advanced fraud prevention and frictionless context-based security solutions, which make access to mission critical applications seamless by using real-time identity and access analytics.

  • Provides a scalable data security platform to protect data in files, databases, and applications in any server environment.