Cyber Security Archives | Insurance Agency Management System by Strategic Insurance Software

Four Tips to Secure Your Agency’s Insurance Tech

by Hannah Ruben | Feb 25, 2022 | Community, Cyber Security, Technology Trends

The insurance industry isn’t known for embracing change quickly: maintaining the status quo can seem easier than adapting new insurance tech. Despite this, insurance agencies tend to face a greater cybersecurity threat than other small to medium-sized businesses due to the sensitive and valuable data they collect from numerous avenues.

With cyberattacks on the rise, and the COVID-19 pandemic forcing many agencies to leave the traditional way of doing things behind, the need for insurers to maintain cyber regulation and compliance has never been greater.

With this in mind, here are four ways insurance agencies can secure their insurance tech to protect their business, employees, and clients.

Never Let Your Agency Sleep on Digital Insurance Security

by Sarah Deak | Feb 17, 2022 | Cyber Security

Digital insurance options opened up new markets and improved communications for agencies worldwide. However, this growth goes hand-in-hand with the rise in cyberattacks over the past few years.

Recent reports estimated cyberattacks increased between 200% and 300% in 2020 and are doubling again. Similarly, ransoms from cyberattacks are rising by between 50% and 80%, making it a more attractive scheme for cybercriminals.

Labor market changes contribute to increased cyber-vulnerability as well. More people are working remotely, and their home offices may not have the same security measures as their company. Similarly, the recent labor shortage means companies are hiring more people more often and, in their haste to fill positions, may not provide ample cybersecurity training for new hires.

What is Your Insurance Tech Cyber Security Plan? – The Top Elements to Include

by Strategic Insurance Software | Jan 27, 2022 | Cyber Security, Technology Trends

Cyber security has been a concern across industries for years, but the COVID-19 pandemic accelerated risk. With more businesses moving to online operations, more data became vulnerable. This is especially true in insurance, where the use of insurance tech skyrocketed in 2020, along with incidents of cyberattacks.

Insurance is second only to legal firms as cyber criminals’ preferred industry to attack. The average agency is targeted over 100 times per year, with more than 30% of attacks succeeding. And according to PwC’s Digital Trust Insights Pulse Survey, cybercrime is expected to cost companies $10.5 trillion annually over the next four years.

Insurance Software Security: Keeping Your Agency Safe Today and Tomorrow

by Sarah Deak | Aug 19, 2021 | Cyber Security, Technology Trends

Comparison quoting, esignatures and e-doc processing, and other digital insurance software tools have vastly improved personalization and customer service in insurance. It’s also becoming clear that these tools are also making agencies more vulnerable to cyber-attacks. According to the Identify Theft Resource Center, cyber-attacks increased by 42% in the first quarter of 2021, affecting an estimated 51 million people.

As a community-minded, independent agency, you can’t afford to expose your customers to that risk. Not only would it affect you financially, it would also damage your reputation in the community. How can you keep your customers and agency protected?

Six Ways to Keep Your Agency Secure in the Digital Insurance Age

by Sarah Deak | Jun 17, 2021 | Cyber Security, Marketing, Sales, Technology Trends

Approximately 43% of all cyberattacks are on small businesses, and, in 2020, 12% were attributed to finance and insurance industries. In the age of digital insurance, your independent agency is part of that vulnerable small business group. And, this threat increased since the COVID-19 pandemic: researchers report a 30% increase in cyber-security breaches since the pandemic hit.

As a particularly vulnerable industry, insurance agencies must be mindful. The volume of files processed daily and the sensitive information contained in each mean insurance agencies are increasingly at risk. Yet, KPMG found that only 43% of insurance executives said their organization was protected.

Is your agency taking cyber attacks seriously? Here are some ways you can start.

The Story Behind Our Insurance Agency Software: Agency Management Resource Group

by Adam Rapp | May 20, 2021 | Cyber Security, Technology Trends

We continue to explore the story behind our insurance agency software partners. In this post, we talked with independent insurance veteran Cheryl Koch. Cheryl founded Agency Management Resource Group to help independent agencies “achieve their goals and dreams.” With that motivation in common, we work with Cheryl and her team to educate and equip agencies for success.

When she was introduced to the Partner Platform team, Cheryl Koch saw an opportunity. Equipped with a wealth of training content for independent agencies, she knew she had just what so many Partner Platform agencies needed: personalized education. After holding our first “Ultimate Producer School” with Cheryl and her team, it was clear her expertise was the perfect fit.

I spoke with Cheryl to hear about her wealth of experience in the industry and how she connected with the Partner Platform community.

A Guide to Cybersecurity for the Digital Insurance Agency

by Strategic Insurance Software | Aug 6, 2020 | Agency Operations, Cyber Security, Technology Trends

In an increasingly mobile and connected world, your agency needs to respond by transforming to a digital insurance agency. Your employees, customers, and prospects are accessing more information digitally than ever before. Is your agency equipped to mitigate the risks...

Working Remotely, Working Securing Protect Your Agency with These Work-from-Home Webinars from Strategic Insurance Software

by Strategic Insurance Software | Apr 21, 2020 | Cyber Security, News and Events

Our Partner Platform agencies, like so many others across the world, have been forced to embrace agency-wide remote work, sometimes with days’ or hours’ notice. As we adjust to this surprise shift, we turned to our trusted partners for help. See below for two guest...

Sunning Your Summer in Security

by Alex Deak | Jul 18, 2019 | Agency Operations, Cyber Security, Technology Trends

Agency and insurance management system data security has always been a top priority for us at SIS. We built our Partner Platform agency management system suite with data safety and cybersecurity in mind, and it continues to be a topic we follow. This past May, agency...

Data Safety for the Independent Insurance Agency

by Sarah Deak | Mar 28, 2018 | Cyber Security, Technology Trends

It’s tough enough to win new business. Whether it’s a new insured, renewal, or endorsement to a current policy, you want to make the “sign on the dotted line” process as quick as possible. Agency data and signature security may be the furthest thing from your mind.

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