Insurance and security part 4: The future of cyberthreats and implications
In the final installment of our insurance and security series, Mark Breading, partner at Strategy Meets Action, and Charlie Hanna, director of Hyland’s Domestic Insurance Solutions Group, share their ideas about how insurers can best secure their company’s future.
“The issue of cyberthreats is only going to get worse before it gets better,” says Breading. “In this increasingly connected world with smart homes, connected vehicles, and making everything smart, we’re going to have more and more data flowing into insurance companies that are ripe targets for bad actors.”
“A cyberbreach would be devastating to the insureds because the insurance company has a lot of very personal and specific information,” adds Hanna.
That’s why Breading and Hanna believe insurance companies need to lead the way. By embracing technology like content services platforms, insurance companies can be proactive against cyberthreats.
Cyber-risk coverage ultimately will need to be embedded in every type of insurance policy – whether it’s business insurance, personalized insurance, or life insurance products – because there’s exposure everywhere.
$Mark Breading$
