Insurance
The Insurance sector enforces strict compliance and regulatory requirements. Organisations must be exceptionally capable when it comes to their cyber security strategy.
Most MSSPs will say ‘We will run MDR for you!’ which is great, but what insurance companies, both in finance and healthcare, really need is alignment of security services with the regulatory requirements that are demanded.
Compliance Challenges in Financial Insurance
Financial based insurance companies are heavily controlled under compliance/ regulatory systems that differ from requirements in other industries (Anti Money Laundering Act (AML), and Bank Secrecy Act, (BSA). Compliance is essential. The right cyber security strategy is vital to work with these compliance requirements.
Compliance Challenges in Healthcare Insurance
For insurance companies based in healthcare, organisations collect and hold a vast amount of PII data. Governmental regulatory requirements are enforced, including HIPPA requirements around data privacy, which includes the protection of healthcare data and the processes used.
Skills and Resources Challenges
Not all insurance companies are IT companies. While some organisations might have teams, they are always thin on those resources and the skills that are required are often lacking.
Effective security always comes down to three key elements. Processes, People and Technology. All elements are equally important, and you must have all three to ensure an enhanced cyber security posture.
- Processes must run seamlessly alongside the organisation.
- Security experts must have the capability to detect, react and understand the context of a risk.
- Technology must be superior, to keep up with cyber threats.
Controlling the Users, the Logs, and the Security within Insurance Companies is Essential to meet Compliance Requirements.
To remediate your specific security needs, see our full range of services here.
Managed Detection & Response (MDR)
Complete visibility of your digital world. Visualize and understand malicious or anomalous activity. Analyse, prioritise, and respond to threats in rapid time. Safeguard data, high-risk individuals, employees, and processes.
LEARN MORE
Threat & Risk Intelligence (TRI)
Be notified, 24/7, of digital risks or mentions on the Dark Web, Deep Web, and public domain, for complete visibility. Monitor Industry Specific Threats. Avoid Costly Data Breaches. Measure & Track Your Digital Footprint.
LEARN MORE
Vulnerability Management as a Service (VMaaS)
View and act on all vulnerabilities across all your digital platforms, including internet, applications, systems, cloud, and hardware. Identify your weak points, monitor your online identity, verify issues and remediate in rapid time.
LEARN MORE
Related Content
SecurityHQ Achieves CREST Accreditation – The Highest Audit Standards
SecurityHQ, a Leading Global Managed Security Services Provider (MSSP), have received CREST accreditation, which highlights an ongoing commitment to enhance and strengthen data security and cyber security services, and display consistency in approaches.
The Digital Operational Resilience Act (DORA); Challenges and Solutions
Financial entities in the European Union and their ICT providers must comply with DORA by January 17, 2025. Learn what DORA is, the key pillars, the changes needed, and why it is required.
Get in Touch. Talk with one of our experts today.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
