Hackers are tempted to perpetrate cyber attacks against insurers and such attacks have the potential to be devastating…insurers are vulnerable.
Medical Insurance company Agrees to Record Payment—$16M—for Largest U.S. Health Data Breach
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The Insurance industry is one of the richest data-driven businesses there are. They collect their customers’ financial, medical, professional, and personal information. This is why they have the obligation to protect such data and keep it safe. Consequently, cyber-attacks to insurance companies can be devastating and put at risk millions of people’s information.
During last year, we saw some of the worst cyber-attacks in history, with the NotPetya attack costing billions of dollars. This malicious ransomware attacked hundreds of companies around the world. Such vulnerability within the insurance industry could be as destructive, or even more than NotPetya was.
Cyber-attacks to insurance companies target one specific branch of the business. According to WebMD, hackers are targeting medical data and health insurance providers are particularly at risk. From all the data breaches that took place between 2010 and 2017, 63% of them involved medical data. This represents a total of 132 million medical records hackers breached that year.
The most damaging cyber-attacks to insurance companies, however, were detected during 2015. Insurance providers such as Anthem, Premera Blue Cross, and CareFirst Blue Cross Blue Shield had almost 100 million records stolen during cyber-attacks. Not only that but in 2017 Anthem confirmed that the records of 18,500 customers had been compromised too.
Secure Insurance Records
Secure Insurance Infrastructure
Cyber Forza understands the importance of integration, protection, workflow, intelligence and compliance for Insurance companies. Cyber Forza suite of products goes beyond what traditional vendors have been providing to ensure the client records and reputation is protected.