Robust Security Features in Our Insurance Technology Platform
In an era where cyber threats are ever evolving, ensuring the security of your digital assets is more critical than ever. Statista predicts the application security market is projected to reach $366.1 billion by 2028, which stands as a testament to the increasing necessity of highly secure applications.
As an insurance technology platform, we understand the need for secure applications that are conducive to business growth. Our platform complies with industry standards and offers security at all levels. Additionally, hosting the platform and storing the data on cloud offers more security.
Security is primarily categorized into three levels: application, data, and infrastructure. When these areas are well-built to withstand potential threats, the application becomes robust and can effectively defend against cyber-attacks.
Here are the robust security features that InsureComp offers:
Application Security
Application security is a measure to protect the application from threats and vulnerabilities, which includes practices like code reviews, secure coding practices, and access management that ensure the application is resilient against attack.
Code Reviews
Our developers thoroughly conduct security assessments and vulnerability scans to identify potential weaknesses in the code, configuration, or infrastructure, enabling our platform to reduce the risk of security breaches.
Identity and Access Management (IAM)
Just like your office building requires security to prevent unauthorized entry, applications require robust security measures to protect the digital system. Our platform is secured by the following IAM practices:
Authentication: To verify the user identity with passwords or multi-factor authentication (MFA).
Authorization: To determine user access, specify what actions the user can perform once inside, such as having access to certain features but not others.
User Management: To create, manage, or delete user accounts and roles, which allows up-to-date authentication and authorization for all users.
Access Control: To define and enforce policies that determine who can access what resources and under what conditions based on roles and pre-determined policies.
Allowing only authorized personnel to access the platform offers businesses, security from internal and external threats.
Password Rules
By enforcing complex password with a mix of uppercase and lowercase letters, numbers, and special characters, InsureComp ensures the passwords are difficult to crack and add a layer of protection to the platform.
Monitoring
Continuous monitoring ensures that the platform is secure. Just like your office is guarded by physical and digital security, our platform is monitored and tracked to collect metrics, logs, and events, detect unusual activities and threats, and maintain smooth operation and security.
Data Security
Protecting data that the platform processes from unauthorized access, corruption, or theft is crucial to maintaining integrity and compliance. We have encryption at rest, access control, and secure data storage practices to maintain data security and ensure confidentiality.
Data Encryption
Data encryption is a high-tech storage for data. Encryption ensures that all the data stored in the platform remains confidential and secure.
Data Storage and File Storage
Secured data and file storage prevent unauthorized access and potential breaches. Our platform encompasses:
Data storage to safeguard databases and data repositories
File storage to secure individual files and documents
Cloud storage for advanced access control, backup, and encryption
This ensures all your digital assets processed in our insurtech underwriting platform are secure and well-protected.
Data Archival/Purging
Based on client requirements, data is either archived or permanently deleted after a set period, typically 30 to 90 days. Archived data can be restored on request. Permanently deleted data cannot be recovered, and we retain no access to it.
Infrastructure Security
Infrastructure security protects hardware, software, networks, and facilities that support the application and data. We secure servers, databases, network devices, and critical infrastructure components with our practices, which include:
Network Security
Network security ensures the digital infrastructure is protected from threats.
Controlling traffic: Control who can enter and leave our network using firewalls and security groups.
Protection against attacks: Measures to prevent cyberattacks like intrusion detection systems (IDS) and intrusion prevention systems (IPS).
Patch Management
Patch management involves regularly monitoring and updating our system to fix vulnerabilities, which ensures the platform infrastructure is secure and resilient against threats.
Monitoring and Compliance
Continuous monitoring ensures that the system is always protected. Our compliance measures ensure that the platform meets the standards and regulations.
With growing data breaches, customers are concerned about data privacy and security and choose a company that prioritizes safeguarding customer data. Furthermore, businesses are levied heavy taxes and lose millions and billions to cyberattacks.
For a technology platform, security is crucial. By utilizing AWS, InsureComp, an insurance underwriting and pricing technology platform, guarantees robust data protection and security for PEO businesses and their users. This empowers the PEOs to enhance their operational efficiencies without compromising security and build trust among their customers.
