At the heart of digital transformation, data is king. And by not embracing big data, insurers can lose market strength and may face extinction.
In a dynamic and highly regulated industry, there are regulatory, compliance, security and data protection requirements to consider. Cloud technology can enhance security by working collaboratively and effectively across functions whilst safeguarding the integrity, confidentiality, availability and control of data;
- Innovation- unlock data in the cloud, information sharing for enhanced strategy
- Improve speed to market- IT agility and shorter project implementation time
- Business growth- new customer oriented business models and potential for global expansion
- Risk management- integrate risk data and assessments within one environment
- Cost reduction- operating and capital investment costs are reduced.
A hybrid cloud gives reliability, performance, and flexibility to deploy different workloads on-premise and in the cloud to best meet the needs of customers now and in the future.
Applications for Trusted Digital End-to-End Processes
Cloud Service Architecture
A hybrid cloud solution embraces architecture within the insurance sector in an agile, seamless and secure environment. Data security and privacy regulations require that data transfer from and to the Cloud service as well as at rest is continuously encrypted.
Multi-cloud Key Management
Bring-your-own-key concept allows to securely and remotely generate & manage keys across the hybrid cloud and the complete life cycle, retaining full control over the data, and assuring data security and privacy at any time and at any location.
Post Quantum Crypto Agility (Future Proofs and PQC)
At this time, no quantum computer can run quantum algorithms, however once they are able to, these computers will decimate the security infrastructure of the digital economy. Post-quantum crypto-agility is a necessity for the financial services infrastructure to be able to evolve in the advent of a new generation of attacks and consequently evolving cryptographic standards and algorithms.
Public Key Infrastructure (PKI)
PKI ensures confidentiality, integrity, authenticity and non-repudiation of sensitive information. Encrypting data at rest and in transit guards it against theft or tampering, and guarantees that digital identity provides secure authentication of users and applications to protect against fraud.
Blockchain
The integration of HSMs into a blockchain solution secures the privacy and security that may be lost by distributing proprietary software to an untrusted network of blockchain operators. By storing private keys and data within the HSM, data integrity and user authentication can be dramatically improved. Proprietary code can even be stored and run fully within an HSM to protect intellectual property.
