Multi-Signal Managed Detection and Response For Insurance Companies

While you may sell cyber insurance products to your clients, you cannot underestimate that your organization is a high-profile target given the vast Personal Identifiable Information (PII), financial, and even health information under your purview. Storing vast amounts of this sensitive data makes the insurance industry susceptible to sophisticated threat actors trying to gain access to your client information and policy details.

A combination of business factors and security vulnerabilities are increasing the risks you face as attackers seek to:

• Leverage stolen policyholder data to target your clients and negotiate ransom payments that fall within their coverage to guarantee payment.
• Fine-tune their campaigns and craft highly-convincing phishing campaigns.
• Retaliate against insurance firms for representing certain clients.
• Use insider information to island hop and disable defenses.
• Use business email compromise (BEC) attacks for claim payment requests and invoices.

Cybercriminals commonly leverage stolen policy data as a means of targeting insured victims to negotiate ransom payments within their coverage limits. Policy information further enables attackers to fine-tune their campaigns, craft convincing phishing messages, and even sour the relationship between the policyholder and their carrier. As cyber threats increase, insurance companies and brokerages need 24/7 threat hunting services including Managed Detection and Response (MDR) in order to detect malicious activity, stop breaches, simplify security and minimize business risk.