All business types can benefit from data security, but IT support for insurance companies in Florida is especially important due to the vast amounts of personally identifiable information housed on their servers.
Insurance companies understand risk better than most industries. It’s their business to calculate how much risk is worth taking on for their customers. And, because insurance companies know that cybersecurity is crucial to the success of their industry, many are outsourcing their IT needs to third-party IT security firms like Dytech Group.
Our team of cybersecurity experts knows about risk and how to mitigate it for our insurance company partners. Here are a few more reasons to hire us for IT support for insurance companies in Florida.
Insurance Companies Are Particularly Vulnerable To Cyberattack
All businesses are subject to hackers but these unique characteristics make insurance companies a prime target for cybercriminals.
Personally Identifiable Information
If you’ve ever applied for an insurance policy, you know how much information you need to submit. Whether it’s a health insurance policy or a homeowner’s policy, personally identifiable information, or PII, including your name, address, Social Security number, birthday, and financial information goes on your application. Once approved, this information remains in your file and is associated with your policy for the life of the policy (or even after your policy has been terminated).
The point is, there is a treasure trove of personal information sitting on the servers of insurance companies making them a huge target for cybercriminals. And cybercrime is only going to become more rampant as hackers become more skilled at developing sophisticated software to help them breach your system.
In today’s age, all of our information is at our fingertips via our smartphones. To keep up with demand, insurance companies have had to develop app-centered interfaces. Gone are the days of waiting for your statement in the mail or calling in to check on a claim. With today’s tech, policyholders can simply log into their accounts online. To create a seamless customer experience, it’s crucial that every step of the user experience contains the latest security measures.
Insurance Is Ubiquitous
We all need insurance and it’s not uncommon to have several different types of policies. And to be approved for those policies, we must surrender personal information. When you’re shopping for insurance, your information may even be shared with multiple insurance companies. Every time your information moves, it is more vulnerable to attack. There is simply so much PII floating around in and between insurance companies, these companies need to be vigilant to keep it safe.
Negative Consequences Of A Data Breach
All data breaches are damaging to a business, but leaving customer data unprotected has a unique effect on the insurance industry in the following ways.
- Loss of customer trust – Insurance companies deal in relationship-building. A customer needs to trust that the company will pay a claim if necessary and will keep their information safe.
- Volume of competition – When trust is lost, a customer has a plethora of choices of other insurance companies. Keeping customer information safe helps to keep your customers loyal.
- Damage to your brand – A highly-publicized data breach can have a lasting impact on your bottom line. Not only will your current customers jump ship, but you may be unable to grow your business because potential customers will be hesitant to trust that you’ll keep their data safe.
Dytech Group Offers The Best IT Support For Insurance Companies In Florida
Our team of cybersecurity experts makes it their mission to stay on top of the current cybercrime trends, methods, and practices, so we know what to look for and how to defend against these attacks. Our managed services package offers the best in service and support for your hardware and software systems as well as 24/7 monitoring. Let us help you protect your customer data so your insurance business can thrive. Contact us today to get started.