From spear phishing to hacked printers, “brokers have to stay sharp” on emerging risks

Insurance Business America | April 22, 2019

Phishing emails today look a lot different than they did a few years ago. The family of a prince in a faraway land might not be asking you for a large chunk of change if you help them transfer money out of the country as often anymore, but that doesn’t mean the cyber threat is gone for good. The practice of spear phishing is an emerging risk that targets the upper echelons of a company, like CEOs, CFOs, and CIOs, to gain access to the target network. Once they’re inside, hackers can sit in it for months. “They come in, [and] they might do something, like change the way that your email works. What they’ll do is often they’ll change forwarding rules, so they're forwarding emails to their account. They can then vet things or tell people to change where they’re going to be sending your money,” said Linda Hamilton, client operations manager and OFAC compliance officer at global data recovery firm Proven Data, and a panelist at the upcoming Emerging Risks & Innovation Summit in New York. “You don’t even know you got an email because it’s being forwarded to a different email address.” When it comes to cyber threats, even printers aren’t safe from hacking anymore because many are “smart” devices that are connected to networks.

Spotlight

The underwriting process is critical for insurers. But manual processes, spreadsheets, and data from disparate silos slow down the process and make audit trails a nightmare. All that means a lot of stress on systems and employees, plus a less-than-ideal customer experience.

Fortunately, it doesn’t have to be that way.

With the P&C Underwriter Workbench from Mendix and Capgemini, you can optimize and digitize underwriting, leading to efficiency, effectiveness, and increased productivity.

Connect with your core systems and data sources to make data-driven decisions. Customize every aspect to make an offering that’s uniquely yours.

Spotlight

The underwriting process is critical for insurers. But manual processes, spreadsheets, and data from disparate silos slow down the process and make audit trails a nightmare. All that means a lot of stress on systems and employees, plus a less-than-ideal customer experience.

Fortunately, it doesn’t have to be that way.

With the P&C Underwriter Workbench from Mendix and Capgemini, you can optimize and digitize underwriting, leading to efficiency, effectiveness, and increased productivity.

Connect with your core systems and data sources to make data-driven decisions. Customize every aspect to make an offering that’s uniquely yours.

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