Securing Policyholder Data Wherever it Goes

If you are like many insurers, you likely collaborate every day with a vast network of agents, partners, contractors, subsidiaries – the list is endless.

This collaboration often involves sending your customer and corporate data outside your firewall and beyond the reach of your data security and governance systems. Every single day, you leave yourself exposed to your third parties’ security environments – and to potential data breaches as well.

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Where Your Data is Still at Risk

The following use cases highlight a few important areas where your information is at risk – despite your current security infrastructure.

Customer Data

  • Large amounts of customer data, including new policy issuance, renewals, and other highly sensitive identification information is shared internally and with agencies and business partners
  • This data is generally sent to third parties in the form of unprotected, stand-alone Excel files or bulk data dumps
  • Its misuse could cause customer loss and directly affect your bottom line and renewal rate
  • Service provider often works directly with your competitors as well, and may have access to data across insurance companies that could be easily shared

Anti-Money Laundering (AML) and Fraud Information

  • Your AML (Anti-money Laundering) teams generate and work with critical documents such as Suspicious Transaction Reports (STRs), regulatory guidelines and circulars, analysis of customer trends, and AML policy and process manuals
  • All these documents often need to be shared with auditors and regulators
  • When they leave your network, they usually go out without any security controls

Risk Audit Information

  • Data generated as part of a risk audit exercise is extremely critical to the client
  • Once the data leaves the Risk Management System, the files are highly vulnerable to misuse

New Product Launch

  • The Product team regularly drafts new insurance plans to drive business growth
  • Before being announced, the plans need to be approved by Legal, Regulatory, Finance, Sales, Marketing, Partner Management, and other departments
  • When an employee leaves, are they taking your confidential product plans with them and sharing them with competitors?

How Seclore’s EDRM Secures Your Data

Legal contracts and audits can only take you so far. You need something that actually secures your information persistently – on another network, on a personal mobile device, on the cloud – literally everywhere it goes.

Your traditional security technologies are restricted to your enterprise network. When information goes out of your organization, your information security should follow it.

Seclore’s EDRM secures your data and does so persistently – both inside and outside your corporate network, on any platform, and any medium. This unprecedented flexibility makes you more agile than ever and enables you to safely adopt new technologies such as BYOD, file sharing, and cloud computing – while still securing your data at all times and locations.

What Seclore’s EDRM can help you achieve:

  • MIS reports and other data files would be protected automatically as soon as they leave your enterprise applications and transactional systems
  • Only authorized users would be able to access protected documents
  • Even authorized users would be restricted in their usage (e.g. they would be able to edit a file but not print it)
  • All access to data would be logged and centrally reported in real time
  • Auditors and regulators would be able to view the content inside a secure container in their browser – without installing any software on their computers
  • All files would automatically ‘self-destruct’ when they are no longer needed (e.g. when an audit concludes or a vendor contract expires)
  • There would be no restriction on the medium of storage, transmission and access of data – BYOD, cloud, network, file shares, and more