"Because of security and privacy issues, we are always cautious about the type of data we contemplate placing in the cloud," said Gustavo Diaz, senior vice president and business relationship manager at Marsh, where he is the leader of technology strategy. "That has somewhat handcuffed us in leveraging the cloud to the degree we would like to."
Make no mistake about it: Even as insurance accelerates into the cloud, data security remains a huge concern to insurers and producers of all sizes—far more than in most industries outside of financial services.
"One of the things about insurance that is critically different from other industries is insurers' data is very PII rich—rich in personally identifiable information," according to Hemanshu "Hemu" Nigam, founder of cyber-security advisory firm SSP Blue. Nigam has served as a former U.S. Justice Department prosecutor specializing in cyber-crime and as head of online security for several global high-tech and media companies.
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