When it comes to insurance and financial services, the ability to offer clients peace of mind is the key to ensuring the sector's continued longevity. Cyberattacks are evolving in frequency and sophistication, with criminals selecting progressively more ambitious targets, and even minor IT outages, whether they're caused by human error or 'acts of God', will have a serious effect on firms' operations, negatively affecting both profitability and brand reputation. With this in mind, firms must reconsider the way they approach operational resilience, particularly regarding the way access rights for critical systems and data are managed.
Digital transformation continues to pick up pace across the financial sector. However, in spite of the potential benefits on offer, many insurance firms continue to lag behind their peers in terms of their overall digital maturity.
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