Securing Insurance Organizations Against Tomorrow's Cyber Threats

Insurance firms and brokers hold vast amounts of identifiable information (PII), medical records, customer credit card and payment data, making them lucrative targets for cybercriminals looking to exploit this information. Additionally, with the rise of ransomware-as-a-service and malware-as-a-service business models, it has become easier for threat actors to execute cyberattacks.

New research from eSentire’s Threat Response Unit (TRU) shows that insurance organizations face a 37% ransomware intrusion ratio, a rate nine times higher than other financial services sectors, with 92% of threats originating through browsers and email communications.

As a result, the insurance industry is increasingly vulnerable to data breaches, financial fraud, and, biggest of all, ransomware.

The potential impacts of a cyberattack in this sector are not limited to financial and legal consequences —a successful data breach can erode customer trust and threaten your reputation.

In this insurance threat intelligence report, eSentire’s Threat Response Unit (TRU) shares threat research on the cyber threats they’ve observed against insurance organizations, why these firms are a prime target for cybercrime operators, and how they can manage their risk to reduce the likelihood and severity of cybersecurity incidents.

Key takeaways include:

• Key reasons why cybercriminals target insurance organizations: acceleration of digital transformation, compliance requirements, under-trained staff, and third party risks
• Analysis of the most impactful cyber threats (e.g., SocGholish, GootLoader, Qakbot, etc.) and attacker tactics commonly used to target insurance organizations based on TRU’s threat research
• Strategies your organization can implement to reduce cyber risk and prevent ransomware attacks

Download our insurance cybersecurity threat intelligence report for recommendations on how to mitigate cyber risk, build resilience against ransomware, and how eSentire MDR can help your organization prevent business disruption.