Cyber Security for Insurance

Names, addresses and sensitive financial information; the insurance industry is the world's largest sweet shop for cybercriminals.

The insurance industry faces cyber-attacks that exceed the complexity of those in many other sectors.

Because insurance companies have such broad reach of personal information, it's the perfect starting point for identity theft. Failing to implement security controls to counter those attacks could lead to companies in the industry needing insurance of their own.

Security teams need to stop spear-phishing campaigns, sophisticated malware and social engineering attacks, among others, across a sprawling attack surface. At the same time, businesses must watch out internally for insider threats as well.

62%

of exposed data in 2019
was financial services data

18.9M

$ is the average annual
cost of cyberattacks in the
banking industry

233

days average time to identify and contain a breach in Financial industries

Staying secure in the insurance industry depends on being able to protect the business from cyber criminals at various points in the digital infrastructure. Next-generation technology can't stand alone; it must be accompanied by a comprehensive strategy.

Engaging a cyber security partner who knows the landscape of the insurance industry, the cyber threats companies are up against and how to stop them better than anyone else will help you put an effective cyber security strategy in quickly.

15 Years of Insurance Experience

Here at Integrity360, we have the track record of keeping insurance business' digital assets safe.

Contact us today to speak to our expert teams to discuss your challenges.

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We have over the last number of years developed a very strong enterprise security model in partnership with Integrity360 as a trusted partner of ours. We’ve some of the top experts in the business but we have also invested very strongly in working with and building relationships with partners because security is not something you can do in isolation, it has to be done as part of a large community.  

Group CIO Insurance client
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A quick note of thanks from me to the wider Integrity360 team for how you have responded in recent weeks. Very challenging times for everyone, but I am really pleased that Integrity360 have been in a position to respond positively and quickly in relation to it.

IT Network Services Manager Insurance client

Verizon 2021 Report
Insurance/Financial Services Findings

Frequency

721 incidents
467 with confirmed data disclosure

Top Patterns

Miscellaneous Errors, Basic Web Application Attacks and Social Engineering represent 81% of breaches.

Threat Actors

External - 56%
Internal - 44%
Partner - 1%
Multiple Breaches - 1%

Actor Motives

Financial - 96%
Espionage - 3%
Grudge - 2% 
Fun - 1%
Ideology - 1%

Data Compromised

Personal - 83%
Other - 21%
Credentials - 32%
Bank - 33%

Top Controls

Security Awareness and Skills Training (14) Secure Configuration of Enterprise Assets and Software (4)
Access Control Management (6)