t cht lk
WHY IS THE INSURANCE SECTOR SO PROFITABLE FOR CYBERCRIME ?
Few companies have a complete inventory of their APIs and know which ones transfer sensitive data .
The adoption of new technologies is redefining the way the insurance industry operates . Tools such as blockchain improve the transparency and security of processes , while big data and artificial intelligence help create products tailored to the needs of policyholders . This technological rise places this industry as an attractive target for cybercriminals .
Oswaldo Palacios , Senior Account Executive , Akamai , stressed that the modernization of infrastructures , the automation of processes and the adoption of generative artificial intelligence will optimize risk management , customer service or product customization , while representing important challenges in strengthening cybersecurity since greater technological dependence entails new vulnerabilities .
In addition , regulatory changes will drive new cybersecurity regulations , forcing companies to
Insurance companies are not only going to invest in more advanced technologies to protect that data , but they must also take a more active role in keeping their customers ’ information safe .
adapt their operations and risk management strategies to protect sensitive information and comply with legal standards .
Consulting firms such as Forrester predict that the insurance industry will increase spending on technology by 8 % by 2025 .
www . intelligentcio . com INTELLIGENTCIO LATAM 63