Wednesday, 26 October 2022 15:53

Four challenges facing the insurance industry in the face of cybercrime

Written by Evelyn Alas

NTT Data analyzes the relationship between cybersecurity and the insurance industry and identifies four growing challenges for companies' operations:

Cloud security. As insurers seek to optimize operations by migrating to the cloud, they need to be able to balance productivity and security. This requires methods and tools that work seamlessly between public cloud providers, private cloud providers and on-premises deployments.

Data-driven business. The consultancy considers it essential for entities to have a holistic strategy that encompasses areas such as data privacy, governance, resilience, audits, etc.

Smarter and automated. Automating repetitive tasks allows cybersecurity teams to focus on more productive activities.

Remote work environment. Insurers have adopted the zero trust model when it comes to protecting their remote work environment.

"As uncertainty remains an uncontrollable but omnipresent element in these companies, cybersecurity stands out as a factor to take into account in order to complete this transformation without taking risks that jeopardize business growth", says Natàlia Solé Riera, Head of Cloud, IM and security at the firm.