Insurance companies and financial institutions have adopted serious cyber security measures to protect their IT systems. In particular, credit companies and insurance companies have specific rules for the security of transactions. We refer to the PCI regulations for payments and everything related to the world of authentication.

Today we are witnessing a constant increase in data attacks, including in the insurance sector. The risk of a data breach, of a criminal takeover of servers where data becomes unusable or inaccessible, the theft of sensitive data relating to financial assets or to the physical health of a customer are all critical situations that could lead to severe economic losses, critical operational difficulties or even the viral spread of the attack to customers and partners.

For this reason, IVASS is sending out important signals to insurance companies regarding the protection of their data, agency networks, and customers. New regulations, recommendations, and advice will probably follow over the next few months with a massive campaign of controls and inspections on the state of information security in small to medium-sized companies, which are easier prey for cyber-criminals.

Kube Partners has for years supported important insurance companies by offering anti-fraud services and is now extending its attention to cyber security. Orla Ralph, Director of Kube Partners, confirms that the risk of criminal attacks on servers and databases could create financial damage beyond operational inefficiencies. The risk of cyber attacks continues Orla Ralph, should not be dealt with by merely reacting promptly or restoring data ex-post, but instead, it is necessary to protect the company against future risks, to install a system of prevention and proactive vigilance to defend against the activity of cybercriminals.

It is precisely to address this concept of «tactical defence», that is, the fight against hackers before they can launch an attack, that Kube Partners has selected the 4Securitas ACSIA platform.

ACSIA – Automated Cyber Security Intelligence Application – thanks to a revolutionary proactive approach, can intercept cyber threats in their embryonic stage, even before an attack takes place. Designed specifically on the modus operandi and tools used by hackers to compromise IT security, ACSIA acts in the reconnaissance (or patrol) phase of an attack – that is, when the attackers familiarize themselves with the target’s structure to identify weak points – blocking a potential threat before it occurs, that is before the information that the hacker has gathered can be used to compromise the system.

ACSIA can prevent the planning and execution of most cyber attacks, thus significantly reducing the risk or even eliminating the economic impact. This proactive response capability is integrated into an «all-in-one» solution that provides an overall defence system even for small to medium-sized companies.

ACSIA is the only cyber defence product on the market today that integrates endpoint detection and response functions (EDR – Endpoint Detection and Response) with intrusion detection systems – IDS – Intrusion Detection System, and IPS – Intrusion Prevention System – and a centralized log collection system – SIEM Security Information and Event Management.

ACSIA is a standalone and comprehensive product designed to protect critical data held by companies and has been developed exclusively by 4Securitas.

It is necessary, continues Antonio Di Salvo, Cyber Security Advisor at Kube Partners, to immediately adapt and strengthen internal Governance, Risk and Compliance (GRC) programmes. The sensitivity of organizations to cyber security issues has increased following the introduction of certain regulations on the protection and processing of personal data; issues such as the GDPR have profoundly changed the risk profile of insurance companies and their distribution networks which, by their nature, hold sensitive and personal data and information that is not always adequately protected.

ACSIA by 4Securitas is designed to be a vital component of the cyber security monitoring and control system. Only by continuous monitoring, accompanied by the appropriate remediation activities, can organisations reduce the number of possible entry points that criminal hackers can exploit to access valuable corporate assets.

ACSIA is the IT security tool that responds to these needs as it offers a governance and compliance plug-in that is available as an add-on to the solution. This module was designed and implemented to be in line with:

  • GDPR- General Data Protection Regulation-
  • NIST-800-53, Security and Privacy Controls for Federal Information Systems and Organizations
  • HIPAA, Law on Health Insurance Portability and Liability
  • PCI DSS, the payment card industry data security standard.

ACSIA allows all the events that occur on users to be logged, providing information on who did what and from which entry point, showing all this information on a user-friendly dashboard and in appropriate reports (flow charts and analytical graphs) that allow the data controller to testify, document and govern the entire data protection process in the company very simply and effectively.

The regulatory demands, the real risk due to the increase in attacks and the attention that the supervisory authorities are focusing on cyber security issues represent a real «call to action» for every company, especially for small to medium-sized companies that are exposed to attacks and are often less prepared in their organised response.

Author: Agostino Ghebbioni