The insurance industry manages risk, and recent insurance-company data breaches demonstrate cyber security is one of the biggest. It is not only a legal and regulatory risk, but a risk that must be managed to retain customers, maintain profitability and protect executive careers.
Insurance companies are a very appealing target to hackers. According to the Pittsburgh Post Gazette:
“The value of personal financial and health records is two or three times [the value of financial information alone], because there’s so many more opportunities for fraud,” said David Dimond, chief technology officer of EMC Healthcare, a Massachusetts-based technology provider. Combine a Social Security number, birth date and some health history, and a thief can open credit accounts plus bill insurers or the government for fictitious medical care, he noted.
Not only do insurance companies have data cyber criminals want, but these companies have multiple vulnerabilities, including:
Insurance companies also need to comply with a number of regulations that might include:
Today’s insurance companies frequently use outdated mix-and-match security solutions while cyber criminals attack them with the most advanced cyber weapons available. Insurance companies need to update their data security with an enterprise-level solution that not only meets the most challenging compliance constraints but also delivers true security from breach. They need a solution that works:
And, like most organizations, insurance companies need to do all this with limited human resources, funds, hardware and software.
Vormetric Data Security Platform Delivers Data-at-Rest Security
to Encrypt Everything, Everywhere
The Vormetric Data Security Platform is the only solution with a single extensible framework for protecting data-at-rest under the diverse requirements of insurance companies across the broadest range of OS platforms, databases, cloud environments and big data implementations. The result is low total cost of ownership, as well as simple, efficient deployment and operation.
Vormetric security solutions are designed to help you comply with:
Vormetric can work with you to install its Data Security solutions in weeks rather than months. Vormetric’s solutions work with most major operating systems, including Linux, UNIX and Windows servers in physical, virtual, cloud and big data Cardholder Data Environments (CDE).
Vormetric Data Security makes it simple to solve security and compliance concerns by simultaneously defending data in databases, files and big data nodes across public, private, hybrid clouds and traditional infrastructures. Central management of the entire data security platform makes it easy to extend data security protection and satisfy compliance requirements across the entire enterprise, growing as required, without adding new hardware or increasing operational burdens.
Customers typically report no perceptible impact to end-user experience when using Vormetric solutions. Vormetric performs encryption and decryption operations at the optimal location of the files system or volume manager taking advantage of hardware cryptographic acceleration, such as Intel® Advanced Encryption Standard-New Instructions (Intel® AES-NI) and SPARC Niagara Crypto, to speed the encryption and decryption of data.
Collectively, this leads to the most cost-effective solution on the market.
To learn more about Vormetric’s solutions for Insurance, contact us.
Updated for 2014, this document examines the global legal obligations to encrypt personal data – included both...Download >>