Not unlike companies in other industries, finance and insurance companies across America are in the midst of a complete digital transformation, adopting innovative channels and services to improve customer experience and conduct business virtually. Unfortunately, while this new technology has provided a platform for modernization and growth, it has also introduced serious cyberthreats and regulatory issues. Without reliable financial IT support, these constantly evolving challenges could explain why according to the KPMG Global CEO Outlook survey, insurance CEOs feel least prepared to deal with ransomware and distributed denial-of-service attacks over other types of attacks.
As other financial sectors continue to become increasingly secure, the vulnerabilities of the insurance sector are being met with greater scrutiny. Wouldn’t it be great for your company to feel confident that it is adequately protected against these types of threats and positioned for exponential growth? In this blog, we’ll review the benefits of financial IT support for insurance companies as it applies to new cybersecurity regulations and the threat of cybersecurity attacks.
We’ll Provide Strategy and Support for Regulatory Compliance
One of the biggest hurdles faced by insurance companies across the United States is keeping up with rapidly changing and often overlapping privacy and security regulations. It’s not surprising, given the rate of digital transformation and expansion into new and unfamiliar territory, that insurers are expected to see higher levels of accountability and enforcement moving forward on the part of state and federal regulators. Any breach of insurance industry regulation comes with not only regulatory consequences, but significant damage to the individual consumer or corporate client as well.
That is why one key facet of our managed IT services for insurance companies includes regulatory compliance and risk management. Whether this means deploying risk-based compliance training or ensuring all employees have access to reporting channels for policy breaches, we’ll review your compliance requirements and develop a plan that accommodates the unique needs of your business.
We’ll Employ a Fully-Customized Defense Strategy Against a Wide Variety of Threats
The best way to prepare for worst-case scenarios, such as viruses, phishing and malware attacks, is to employ a customized defense strategy with multiple layers of cybersecurity protection. At CMIT Solutions, this means beginning with a strong network perimeter complete with managed firewall, active network management and periodic network inspections. This is going to be your first line of defense against any type of security threats. Once a network perimeter has been established, we then add on proactive monitoring of your systems for malware, viruses, spam and more. Any solutions implemented will be entirely customized based on your cybersecurity exposure, threat probability and business impact, as well as any operational trends and business goals.
We’ll Assist You in Your Migration to the Cloud
The cloud services market is growing at a spectacular rate. Even insurers who were initially cautious about moving critical business applications to the cloud must conform to the rapid acceleration of digital transformation in order to keep up. Not only does it provide a major opportunity for insurance companies to curate a more flexible and customer-centric model for their business, but it also helps them drive profitable growth, better manage risk and compete with more insurance companies.
That being said, the migration to the cloud is not without its challenges. Between outdated mainframes and on-premises infrastructure, you need a team of experts that has designed thousands of cloud solutions for businesses just like yours. We’ll evaluate your requirements, design a cloud solution that’s engineered to fit your needs and budget and routinely review your cloud usage for any operational issues.
Protect Your Business With CMIT
When you partner with CMIT Central Orlando, you’ll receive so much more than financial IT support. You’ll join forces with a cybersecurity professional that possesses the expertise and experience needed to manage every aspect of your infrastructure, from your network and systems to data and applications. You get to focus on client acquisition and retention while we’ll take care of the technical details involved with protecting your network, reviewing your compliance requirements and repelling cybersecurity threats. Contact us today for a free consultation and discover what solutions can be implemented into your business to make your day-to-day better.