A piece on the Corporate Board Member Magazine site raises an issue that’s growing more relevant to the insurance industry: cyber crime. The mass digitization of data for processing and storage purposes and the rise of “cloud computing” models open organizations to some of the threats that come with operating in cyberspace. It’s easy to feel separated from, say, the Chinese hacker ring that launched a sophisticated attack on Google servers in late 2009, or the groups that targeted the 2011 G20 summit in Paris. But data security is no less important when it fails to make headlines.
Most insurance companies don’t make for obvious targets. Hackers are more likely to aim for industry kingpins like Google or nationwide health organizations that store the names and Social Security numbers of millions of Americans in their databases. Still, any company that files confidential client information in a form accessible via the web (like those using Salesforce and other “cloud” software) will be subject to heightened security risks. Individuals with dubious motives will not hesitate to steal valuable information from your clients.