How Cyolo Zero-Trust Access is Enabling Insurtech

In our modern digital world, cyberattacks have become a significant concern for the insurance industry, which is responsible for collecting and storing sensitive data, such as personal information, health data, financial information, and more. This information can be used to create policies, process claims, and make important decisions about individuals' lives. If this information is not adequately protected, it can be stolen or misused, resulting in significant financial losses, reputational damage, and legal liabilities.

As the insurance industry continues to migrate toward digital channels to create deeper customer relationships, the problem of security is expected to worsen. In this context, trust is the very essence of insurance. The most advanced cybersecurity solutions are now focused on access controls and data loss prevention, making Zero-Trust Access (ZTA) the go-to solution for the insurance vertical.

In today’s hyper-distributed insurance market, sensitive data continuously moves amongst a wide variety of users. Cyolo is tailor-made for this challenge, providing an "anywhere secure access" solution that eliminates the need for network migrations and enables a distributed security model. Cyolo is perfect for distributed environments that require better security controls, including active M&A situations.

The Cyolo solution is a true embodiment of ZTA. In line with the zero-trust framework, it assumes that all network traffic is potentially malicious, regardless of where it originates. By verifying every request with identity-based controls, access is given to authorized applications, not networks. Unlike other solutions, Cyolo never decrypts customer traffic, making it faster, more secure, and a superior user experience.

Cyolo delivers multi-factor authentication (MFA) and single sign-on (SSO) capabilities for any application and from anywhere. By automating workflows, granular security policies can be applied based on roles, responsibilities, work times, and location. Regulatory components of HIPAA, PCI-DSS, and GDPR can be included in these embedded controls. Cyolo also provides visibility and control over all user activity, supporting an audio/video audit trail if required. A detailed logging capability is provided, enabling quick responses to suspected fraudulent or malicious activity, whether intentional or accidental.

Zero-trust access can help mitigate the risks facing the insurance industry by ensuring that every request for access is authenticated and verified, and access is granted on a need-to-know basis. This approach can help prevent unauthorized access, reduce the risk of data breaches, and provide greater control over who has access to sensitive data.