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How Can Property and Casualty Insurers Secure Data?

Virginia Lux| May 03 2017

| security

property-and-casualty-insurer-data-security.jpgHow can property and casualty insurers (P&C) get from First Notice of Loss (FNOL) to claim resolution quickly and efficiently while keeping data secure?

Property and casualty insurers (P&C) are under increasing pressure to get from First Notice of Loss (FNOL) to claim resolution quickly, efficiently, accurately and with the best outcome for both sides. New insurance options are coming online all the time that promise fast resolution to claims, sometimes in minutes. Consumers are more educated and fickle, demanding better customer experience and changing providers at the first hint of bad service—news that’s now amplified over social media. With over half of consumers at risk for churning because of poor customer service, there’s a lot at stake for carriers.

Customer Experience vs. Secure Data

But the claims process is complex, with many points of communication between carriers, adjustors, agents, third-party partner vendors and ultimately the claimant. Most of these communications are files that contain personally identifiable information (PHI), photos and videos of accidents or damage, audio and more. Speed and efficiency are often at odds with existing legacy technology put in place to maintain data security, privacy and integrity and maintain regulatory compliance. These technologies are effective from a security standpoint but are cumbersome, not necessarily intuitive and are often outside the mainstream workflow.

An adjustor in the field, for example, may use her tablet to capture photos and information about a car accident but may have to wait to get back to the office to securely access internal systems, use a complex FTP client from a remote desktop or mail documentation within a paper-based process, slowing things down. This could be incentive for some to find workarounds that can speed the process and improve the customer experience, but at the risk of data security.

And this at a time when regulations to protect PII and other sensitive data from cybercriminals are becoming more stringent as these hackers grow more sophisticated and brazen–witness what’s happening with the new New York Cyber Crime Regulation.

Managed File Transfer: Increase Efficiency and Data Protection

P&C insurers need a solution that brings together these diametrically opposed forces—a laser focus on the improving the customer experience and efficiency in the claims process, and the need to ensure the integrity, safety and privacy of data.

Managed file transfer is widely recognized as the preferred alternative to complex FTP and cloud-based services for secure and compliant external file transfers of sensitive financial and PII data. Carriers should consider moving from your existing, legacy technology and approach to a managed file transfer solution that ticks critical boxes:

  • Easy to use and seamless for everyone in the claims process chain, whether in the field using mobile devices, at a small glass-repair shop, at an agent’s office or the carrier’s HQ
  • Complies with all the standard data privacy regulations
  • Provides visibility and auditing abilities to ensure this compliance
  • Secures data at rest and in transit with the highest levels of encryption

An MFT solution like MOVEit and will allow you to stay laser focused on your customers and get them from FNOL to resolution as quickly and painlessly as possible. And it will also give you peace of mind to know that every person in your claims process is sending and receiving sensitive customer data safely and in compliance.


Topics: security

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Virginia Lux has over 20 years of experience in high-tech, for both startups and established technology companies. Through this journey, across analytics, mobile, networking, cloud and security, she has gained a unique perspective on how these domains all converge, which informs her writing. Her work for client brands appears in several blogs and bylines.

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