Cyber Risks

Website for Insurance Agents Geared Towards Consumer Interests

People need insurance, but they also have a lot of options regarding whom they purchase their coverage from. Most purchase their insurance from a particular agency based on past experience or a referral from a friend. Often their decision is determined by how these products and services are presented to them.

When it comes to insurance, people like to know certain things, like what they’re buying, what positive impact it bears on them, and that the agents are knowledgeable about the services they’re representing, as well as the amount of ease with which they’ll be able to file claims and get the desired results.

With most people now shopping online, it’s important for every website for Insurance agents to be well designed. No matter the type of insurance being sold, consumers will likely spend the time to compare policies and pricing. Therefore, your website must be easy to navigate, otherwise it you won’t meet your goal of achieving a higher success rate.

Hiring a professional is in your best interests

The main focus of your website should be to get people come to the site and submit their contact information so that an agent can follow up and attempt to close the deal. When building a website, think conversions. If your site is properly designed it should be generating interest, which will help you in putting the agency in a position to increase sales of your products.

That’s where the experience of designers and developers comes in and why partnering with someone that is capable of making a well designed website for your needs is so crucial. Take the time necessary to make an informed decision based on their work on other sites. You’ll want to make sure that you achieve your purpose, and that is to have a website that’s well structured and easy to navigate.

Your website needs to be consumer friendly

Nothing turns off a visitor more than to click on a website for the first time and discover they can’t find contact information easily. This is a sure sign that the site will be a failure. Make this as simple a process as possible and ensure that contact information is easily accessible. Remember that when you design a website for insurance agents it doesn’t have to be complex, it just has to be properly planned out.

 

Cyber Risk Concerns Adversely Affect Medical Institutions

Despite many recent reports involving cyber breaches to large corporations, the medical industry has its share of exposures and concerns. Cyber risk continues to be a serious issue, and cyber liability is now one of the top threats to the medical industry. Medical records and personal information stored on servers serves as a target to many hackers and thieves who see value in obtaining these files.

While having your clients add to their current IT security is a great way to try to combat this issue, it still isn’t enough to address all of the risks being taken. A comprehensive set of network-security policies and procedures need to be properly implemented and tested, as well as updated on a regular basis, in order to ensure that the proper risk assessment has been made and steps to properly manage the problem are in place.

Reputational damage is another concern

The loss of reputation and brand value to these institutions is another major issue, and the losses suffered due to a breach can be hard to overcome. In many studies this is high among respondents’ concerns. Obviously, if a company experiences a loss of personal data belonging to clients it creates a lack of trust in that company. Having this type of risk is likely to have a cumulative effect with any subsequent attacks occurring.

Hospitals and healthcare professionals have since come to terms with the fact that they now face a serious danger from cyber risk and privacy breaches. Confidential information and personal data is a very valuable company asset, one that these organizations must strive to great lengths to protect. Traditional insurance plans will not cover the costs incurred from misplacing or losing sensitive data.

Lost or stolen data can cost a company millions of dollars if not properly protected. Companies with personally identifiable information and protected health information should purchase standalone products that will help to transfer this risk and protect their balance sheet. Doing business online is a risky proposition, and with individual information becoming more public, along with sensitive business information, this type of exposure can cripple a profitable organization. As a broker you should educate your clients in the best ways to protect their customers and their business through properly insuring against cyber crime.

Insurance Agency Design For Websites

With all of the current competition in the insurance selling business, any agent worth his or her salt needs to determine exactly what they can do to get an edge. The simple answer is to create a more compelling website and this requires taking a bit of a different approach than others in different industries might resort to, but with the goal of getting more customers. This is often accomplished by enlisting someone with experience in Insurance Agency Design for websites.

The insurance industry used to be all about personal contact, with the best agents out there taking the time to build up personal relationships with clients, either by meeting them in person or speaking with them over the phone. Once established, many of those clients became loyal to their agent and purchased all of their own insurance needs from them, as well as referred others requiring similar services. But websites have long been equally important in this marketplace.

 

Having a great website is key

Websites have proven to be an effective way of increasing awareness about your firm, which leads to getting new clients, more so than talking over the phone or even meeting in person. But to make it a success you must keep it simple. Have a clean website that has information clearly laid out on displayed for everyone to see, and make it easy to navigate as well.

A good test of any web page is to enter the website from a visitor’s perspective and if you become frustrated at being unable to find information fast this means that the site still needs some work before it will begin performing well.

 

Have a clear header and include an online quote tool

Make sure to describe what the services are about and have clearly displayed links that people can click on to find out more about the different insurance products available, along with easy-to-find contact information (simply by having a footer at the bottom of each page and a “contact us” link at the top of each page).

Also, in any Insurance Agency Design, a successful website should also have an insurance quote tool available, (making sure it’s in working condition at all times). You’ll want it formatted so that the user doesn’t become overwhelmed when responding to the many questions provided on the tool. Using these suggestions will hopefully help make insurance agent websites much more successful.

 

Cyber Threats and Cyber Risk Insurance

Companies are now taking a really close look at the need to purchase cyber risk insurance policies due in large part to the number of data breach incidents and related cyber risks that continue to increase and get reported by news outlets on nearly a daily basis. In addition, government agencies are becoming more actively involved in policing the corporate response to these attacks.

Although the amounts of coverage available can be limited in some instances, whether these policies are referred to as “cyber risk,” “information security,” “privacy,” or “media liability” coverage they all act in much the same way. But unlike most other types of insurance, there’s no standard form on which the insurance industry as a whole underwrites cyber coverage.

Several coverage options to choose from

Many of the cyber policies currently available offer some combination of traditional liability coverage that protects against claims by third parties, as well as first-party coverage protection against losses suffered by the insured. There also are important terms and conditions of cyber policies that can have a significant impact on coverage you offer. With so many different components of coverage available, no agent or broker can reasonably expect to secure every type, but being aware of the differences among the policies being offered is critical to maximizing premium dollars spent by your insureds.

Privacy liability coverage

This is an important aspect of the coverage for most entities as it includes liability to the insured’s customers, clients and employees for breaches of their private information, which can be a major component of liability in the case of a data breach, and quite costly to repair the damages it can bring.

Regulatory actions

There is substantial variance among cyber policies regarding whether, and to what extent, they provide coverage for regulatory and other governmental actions. Even where covered, some policies require that the action be initiated by a formal “suit” in order to trigger the defense obligation.

Notification costs

Another of the major costs related to a cyber crime is that of notifying third parties potentially affected by a data breach. There is an ever-increasing and constantly evolving landscape of breach notification laws that are occurring on a state-by-state basis.

Crisis management

Finally, crisis management coverage includes the costs of managing the public relations fallout from most data breach scenarios. Reputational damage is a major concern, especially among large corporations. Be aware that most, but not all, cyber risk insurance policies contain some form of this coverage.

Aiding Clients with Concerns Over Cyber Risks

With the recent attacks on Home Depot, iCloud, and Target, just to name the headline grabbers, many companies have a raised awareness of their potential to be hacked and are willing to listen to information pertaining to cyber risk and cyber security. Your clients concerns are your opportunity to help them in the battle to keep confidential material confidential.

Unfortunately, there’s no global delete button that can be pressed to simply erase your digital tracks. It would be an incredibly difficult task to even attempt, and any attempt at this would need to be done one web site at a time, be incredibly time consuming, and would garner only marginal success at best.

Because information is scattered everywhere in cyber space, it’s important to consider where valuable information is being stored. For example, how many web sites are storing customer credit card information? How many keep employee social security numbers and other personal info online? Many important documents, files, and videos are stored across the web daily. All of this sensitive data associated with various sites is up for grabs for hackers with the knowledge of how to get at this information for their own use. This is why cyber insurance is such a valuable tool in the fight against cyber theft.

Prioritize all of the most sensitive accounts

Suggest to your clients that they take inventory, and do some housekeeping, which will allow them to prioritize the most sensitive accounts and ensure they’re elevating their security levels in key areas to the highest available levels. They should prioritize their accounts by the sensitivity of the data, such as personal financial information, personal health records, etc.

They could have a classification of low, medium, and high for the levels of data sensitivity associated with each site they’re operating. Then, think about all of this sensitive data, and how much of an issue it would be if a particular account got hacked and someone had access to this information and could alter the data, make fraudulent charges, or even steal a customer’s identity?

Another key factor is for clients to set the strongest possible access control and authentication for their priority accounts. For example, for these priority accounts, they should elevate their security and privacy settings for each and every one.

Setting stronger passwords, regularly changing security questions, moving to higher levels of authentication where available, and implementing higher privacy settings can make a huge difference. You owe it to your clients to make sure that they also insure against cyber risk and cyber threats.