The insurance sector has evolved into a digital-first industry. Automated processes including contracts, policy documents, customer services, and product information are preferred to be accessed digitally – by customers and insurance providers.
Customers trust and rely on insurance to protect their most valuable assets: Their health, finances, and personal property. This also includes their corresponding data such as health, financial, personal data (addresses, names, and social security numbers, for example), vehicle data such as telematics data, professional data, and financial statements, are some examples.
This data needs to be treated and remain confidential and protected in accordance with data protection rules such as GDPR, CCPA, HIPAA/HITECH, Federal Gramm-Leach-Bliley Act (GLB), and other country-specific data protection rules. Furthermore, insurance providers also need to protect their own company data like HR data, employee data and financial insights.
In contrast, this trend is encouraged by public institutions - for data to be open by default and promote easy data sharing between different parties.
Leading insurers are using data and analytics to not only improve their core operations but also to launch entirely new business models, in line with customer expectations.
Therefore, the insurance sector has a requirement to protect this data from potential attacks and data breaches, while ensuring secure data sharing across multiple channels.
Utimaco provides a range of on-site data protection solutions that ensure the secure transfer, storage and sharing of critical and sensitive data.
Applications for On-premise Data Security in the Insurance Industry
Software-based File and Folder Encryption
Reliable data encryption at the file and folder level to protect data against unauthorized access and to fulfill data protection regulations.
Key Management
Sensitive data must not only be encrypted, but also kept secure while in motion, in use, or at rest. Reap the benefits of properly managing your encryption keys.
Secure File Sharing
Enables secure but easy-to-manage data sharing with third parties without running the risk of data interception.
Post Quantum Cryptography
Strong, quantum-resistant lattice-based and stateful hash-based cryptographic algorithms for encryption and digital signature use cases.
Hardware Security Modules for General Purpose Use Cases
Enables key generation, storage, and exchange. Addresses various performance levels and physical security requirements while fulfilling compliance and regulatory mandates.
Tokenization
Replacing sensitive data with non-sensitive tokens to enable secure business operations without sharing sensitive information.
