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Posted by tetley at 2020-02-16

Digital channels have changed the way insurance companies work and serve their customers. However, the same network also brings new risks, the number of network attacks is increasing, so the potential impact of pirated data is increasing.

In this regard, we note the steps taken by insurance companies to protect themselves, but they are not always sufficient. In this new series, I will strive to provide information on data compliance and security issues in Europe, as well as "network resilience" capabilities.

As the European Commission and the European Parliament study data protection, European insurance companies face this unprecedented risk. What we're talking about is a fine of several million euros for violating private data protection, not to mention the risk of trust in images and customers. Therefore, the topic and its impact must be taken very seriously.

Insurance companies will naturally be on the side of criminals because of the nature and quantity of data they process, such as social security numbers, medical records, credit history, driving history, etc. Pay great attention to digital risk management.

Although traditional protection measures may delay criminals, they are not enough to stop all criminals. Therefore, the enterprise needs to adjust its strategy and adapt to become the network resistance ability.

In my next article, I will analyze the increase of cyber crime from the perspective of the digital world.

To learn more:

Read: how can insurance companies strengthen their ability to resist Internet risks

Chinese unchanged: dealing with the challenge of network risk

Download computer graphics: how to improve the ability of insurance companies to resist network risks