Communications technology has had a big impact on how we work. While remote work has improved the work-life balance, and increased productivity in many cases, working remotely isn’t without risks, especially for the insurance industry that deals with a lot of sensitive and private information. Every independent insurance agent needs to understand the cybersecurity risks that threaten the integrity of our industry and the reputation of your agency.
Why Cybersecurity Is A Big Threat to Insurance Agency Owner
Data security breaches can happen to anyone, even if you have the most secure systems. Most experts talk about cybercrime in terms of “not if, but when you get hacked”. Big companies experience cybersecurity issues all the time and are forced to optimize their infrastructure repeatedly. Insurance agents and small independent companies are no exception. Here’s a look at why cybersecurity is such a big threat:
Risks of Remote Work – Remote work is risky because everyone is trying to access information from multiple locations and internet connections. There’s also a chance that remote workers are failing to separate work products from personal products, which can increase the risk of data breaches.
- Data Security – Insurance agencies store clients' personal and financial data in their databases. This information is valuable and can cause a lot of damage if it is accessed by an unauthorized third-party. Financial and personal data is also very attractive to hackers, making the insurance industry a main target of cyberattacks.
- Types of Threats – Insurance agencies face different kinds of cybersecurity threats like ransomware, identity theft, and data breaches. Making sure all workers, remote or not, have the latest security solutions to protect their data.
As you can see, it is vital to discuss cybersecurity for insurance agents and ensure your agency follows the right protocols.
Cyber Security Measures for Agency Owners
Some preventative measures can help agencies avoid serious breaches and keep their information secure. Here’s a look at ways to improve cybersecurity for insurance agents:
- Private Domain – Make sure all businesses and communications are carried out on a private domain, which is easier to secure.
- Disclaimers – Add disclaimers to all correspondence to make clients aware of possible risks. That will protect your interests and ensure clients exercise caution during communications.
- Email Protocol and Practices – Set up email protocol and practices to ensure no one accidentally compromise your IT security.
- E3 License – Protect all of your digital business correspondence with an E3 license.
- Security Protocol Compliance – AAI requires that all agents sign a document stating they will comply with security protocols.
We take cybercrime seriously and make sure that all of our agents understand how to protect themselves, their business, and their clients. If you want to know more about how joining AAI can help you start and grow an independent agency, give us a call.