The Computer Sciences Corporation (CSC) has announced that it has created an Insurance Cybersecurity Advisory Council to assist in the creation of technology strategies and best practices for property and casualty insurers, life insurance companies, and annuity providers, so that they can more effectively control their risk of cyber attacks.
This new Council is made up of IT and business executives from a wide range of different insurance companies and will work with the CSC in the promotion of awareness of the issue, and to help to educate the industry through accurate and up to date information. The first meeting of the Council will be in Washington, D.C., and is scheduled for January 2012.
Agents, brokers, and insurance companies themselves are using mobile commerce, devices and their apps on a growing level. They are also using cloud computing and social networking. All of these different types of service provide them with a significant boost in their ability to increase their business performance through improved agility, productivity, and collaboration.
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Equally, though, all of these various technological services can also leave those insurance providers with a greater risk of cybersecurity threats, both from within the organization and externally. If these issues are not properly addressed, the impact on the operations and reputation of a carrier can be highly damaging, resulting in devastation to revenue.
According to the vice president of Gartner, Kimberly Harris-Ferrante, who is also a distinguished analyst there, “Insurers must assess the maturity of security and enterprise risk management programs and their ability to effectively defend against today’s and tomorrow’s cyber-risks.”