The insurance industry is an appealing target for adversaries because:
- The fast-changing digital space, systems, and technologies make protecting sensitive data harder.
- Protecting the privacy of customer data is more challenging The growing concern over the privacy of customer data.
- COVID-19 placed an added strain on the insurance industry's data systems.
- InsurTech competition inhibits the efficiency of the insurance industry.
- Cybersecurity training is lacking.
- The cybersecurity software is outdated.
- The cloud and application security practices are deficient.
- Confidential data is mismanaged.