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Insurance

Protect and ensure the compliance of your accesses in the Insurance sector

Insurance

SECURE YOUR SENSITIVE DATA AND BUSINESS PROCESSES

 

AUTOMATE ACCESS REVIEWS AND CONTROL TASKS WITH BRAINWAVE GRC

While facing ever mounting regulatory pressure, insurers must simultaneously contend with disruptive new-entrants, managing critical and sensitive services for clients, and establishing a defense against hacking threats.

A major cybersecurity incident within the insurance sector occurred in 2014 involving the broker, Brightside. Insurers have been slow to address the risks posed by these attacks, focusing on the more familiar risks of regulatory issues, underwriting challenges, and false claims. Since this attack, the dangers of digital attacks have grown as more aspects of the industry are concentrated  through interconnected systems, cloud applications, and big data. With complex and fragmented information systems, a sector increasingly looking outward while in the midst of change, and increased compliance requirements, insurers must find the right solutions to immediately and continuously guarantee their data security.

insurance sector

Your needs and our solutions

Comply easily to regulatory requirements

 

Protect your system from internal and extrenal threats with Brainwave GRC

Sector challenges

Sensitive data and processes

The data involved in the insurance sector – including medical, personal, and financial information – is critically sensitive. Insurers must guarantee the security of this data, protecting against fraud and data leaks. Business processes, especially those involving contractual activities with individuals and businesses, are also highly sensitive and must be protected.

Many insurers have underinvested in this crucial aspect of their security leaving them with poorly protected systems that expose them to external attacks and increasing internal risks.

Solutions

Reduce risks over your sensitive assets

Brainwave GRC’s solution allows you to control for and mitigate the risks to your sensitive assets (data, applications, directories, processes, etc.) with a 360° view of information via control panels customized for the identified risks to your assets and their according level of sensitivity, with clear visualizations and natural language queries.

 

This solution helps you define, evaluate, and continuously manage the risks identified for your organization.

Demanding compliance requirements

Regulations for insurers today are continually evolving, and the requirements for compliance are higher than ever. Internal control and audits, in collaboration with IT, become ever more important, as they must guarantee both risk management for the organization and compliance with regulations.

Approaching these as uncoordinated daily activities typically wastes time and resources without attending to the key strategic tasks.

Easily comply with regulatory requirements

With the Brainwave GRC solution, compliance requirements can be easily met and the risks associated with noncompliance entirely avoided due to customized reports, automation of the reporting process, and analysis of system-wide information through the natural language search.

 

Workflows of audit and compliance reports can be produced automatically and addressed to the relevant parties in order to ease the remedial process and accelerate the compliance process.

Digital transformation

Mobile first interaction, increased data collection, cloud based internal application, the use of social networks, and cloud driven file sharing are all common initiatives in digital transformation.

Such a transformation often causes issues and increased risks. With projects to implement, new processes to adopt, and new methods of working, digital transformation can be a drag on efficiency if the organization does not have good tools designed to live in a seamless digital environment.

Ensure the success of your digital transformation

Through the automation of the compliance reporting process, the securing of sensitive assets, and risk control, the Brainwave solution allows you reap the benefits of digitization without additional constraints or security risks.

On the contrary, this solution ensures efficacy and achievement of goals through convenient compliance and a decrease in both internal and external risks. Instead of introducing risks, the adoption of cloud and SaaS applications can be adopted easily and securely.

Fraud and data leaks

The risks of fraud and data leaks are increasing with the evolution of the parties involved to become more open and collaborative. Combating these risks is now a priority for many stakeholders, but they frequently don’t even have a definition or road map of their security risks.

 

Many insurers currently have a vital need to ensure the security of their processes and to quickly and easily fight internal and external risks.

Mitigate your internal and external risks

Combating fraud and data leakage involves minimizing these risks throughout the business, not just within a few sensitive applications. The Brainwave solution allows you to define, evaluate, and continuously monitor the level of security risk, especially in segregation of duties (SoD).

 

The automation of workflows, monitoring and reporting, will allow definition and easy application of your SoD matrices.

BRAINWAVE GRC SOLUTIONS TAILORED TO YOUR INDUSTRY AND YOUR JOB

Take a look at your needs by Industry

DIGITAL TRANSFORMATION - REGULATORY COMPLIANCE - FIGHT AGAINST FRAUD 

The Insurance sector is chaging very fast. With an increasing regulatory pressure, insurers need to face multiple challenges such as conducting properly their digital transformation without security imperatives impending operational efficiency, the management of sensitive business processes and fighting against cyber attacks. 

Assurance

Visit the insurance sector page  

REGULATORY COMPLIANCE - SENSITIVE DATA - DIGITALIZATION

The banking sector faces multiple challenges today: intensification of compliance requirements, wide spread digitalization, imperative of protecting sensitive assets, preventing data breaches, etc.

Banque

Visit the banking sector page  

FIGHTING  AGAINST CYBER ATTACKS – CYBER SECURITY 

The energy industry has quickly become a privileged target for hackers, especially petroleum and gas industries. These external attacks are becoming more common, and they can quickly impact all or part of an entire country by shutting down the electrical grid, like the hackings in Ukraine and Israel, for example. 

Energie

Visit the energy sector page  

OPENING IT SYSTEM - SECURING LOGISTICS CHAINS - DIGITAL TRANSFORMATION 

The manufacturing industry, now rapidly changing, is faced with many strategic issues, both circumstantial and structural. The proliferation of unstructured data, logistics chains’ sensitivity (particularly to fraud risk), the size of the organizations, and the importance of protection for information systems are all major current challenges for the industry players.

Industrie

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CYBER ATTACKS – LEGISLATION ISSUES – DIGITAL TRANSFORMATION

The increasing number of cyber attacks on hospitals and health facilities in general, as in the hacking of the Hollywood Presbyterian Medical Center, implies higher risks of fraud, data breach, and external attacks for the entire sector, without any recourse for stakeholders to better protect themselves.

Santé

Visit the healthcare sector page  

CYBER ATTACKS – SENSITIVE DATA AND PROCESSES - REPUTATION

Currently, trading activity is faced with more and more cyber security risks, at the height of the financial and economic issues connected to it. The financial consequences and impact of a cyber attack on the reputation of the companies involved represent increasingly significant risks. The industry players are starting to take action against these risks.

Trading

Visit the trading sector page  

Take a look at your needs by job title

SECURITY POLICY -  RISK MAPPING - OPERATIONAL EFFICIENCY 

The "security" topic within a business is often taken in charge by the CISO and CSO's collaboration, when both actors are present. Yhe definition of the security policy and the risk mapping, conducted by the CISO, define the path to follow fot the policy's implementation, this being the CSO's responsability.  RSSI

Visit the CISO and CSO page  

OPERATIONAL EFFICENCY - PERFORMANCE – GOALS

The operational plan's efficency and the IT function's performance are the CIO's first priorities. In this context, IT security is often perceived as a constraint. Nevertheless, not considering enough IT security issues can rapidly impact IT teams' operational efficiency. 

CIO

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ENSURE OPERATIONAL FUNCTIONING AND SECURING WITHIN THE SCOPE OF YOUR BUSINESS.

Each application and infrastructure manager within the organization must ensure operational maintenance within their scope. They must also operate level 1 controls to implement internal control plans and respond to any auditor request.

Responsable-Infra

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COMPLIANCE REQUIREMENTS, ANALYSIS, RISK GOVERNANCE

The current challenges present in IT auditing are manifold: verification of the integrity of data and systems, verification of compliance with internal policies and regulations, detection of drifts, etc. In addition to monitoring regulatory compliance, audit is taking on a role that is increasingly complementary to data security: are the organization’s resources and data being used appropriately and by legitimate users?

Auditeur

Visit the auditor page  

COMPLIANCE – RISK MANAGEMENT AND MANAGEMENT OF ACTIVITIES – RESOURCES – PROCESSES

Internal control has now a vast scope of responsibilities: compliance checks, the definition and proper application of segregation of duties (SoD) matrices, control plans’ implementation and the resulting KPIs, remediation processes’ implementation, etc.

Contrôleur-Interne

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PERFORMANCE – OPERATIONAL EFFICIENCY – SECURITY OF THE DEPARTMENT

Any supervisor of a department or business unit is primarily responsible for organizational efficiency and ensuring that objectives are achieved. The challenges that you face today include access rights review of your teams, fulfilling regulatory compliance requirements, and being aware of security risks such as internal fraud.

Manager

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FIGHT AGAINST FRAUD - ENSURE OPERATIONAL AND FINANCIAL EFFICIENCY

"Fake president" scams, information theft, internal fraud... Never have finance departments had so much to worry about in terms of IT resources misappropriation. These forms of embezzlement present known risks to organizations’ image and profitability.  Statutory Auditors are increasingly demanding in their audits, and they point out systematically failures regarding control monitoring, which are becoming increasingly difficult to ignore.

Directeur-Financier

Visit the CFO and CRO page  

GROWTH - RISKS - DIGITAL TRANSFORMATION 

Information thefts, confidential data breaches, internal fraud... Never have financial departments have had to worry as mcuh regarding proven and potential risks threatening their organization's profitability and reputation. External auditors are more and more demanding in verifications and highlight more and more failures to comply to control obligations, becoming impossible to ignore any longer.

Inspection-DG

Visit the general management page  

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