When partnering with a new vendor, insurers should always inquire about how their products stack up when it comes to cybersecurity before implementing the new technology. (Credit: Pira25/Shutterstock.com)
The fact that insurance is a lucrative industry, where companies have large amounts of customers' private information, makes it a prime target for cybercriminals. As insurers implement new technology to supplement their customer experience, it creates even more chances for hackers to find holes in a company's security, leaving it vulnerable to attack.
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