Enterprise password management software: insurance case

According to the newest data from the 2020 Verizon Data Breach Report, 91% of data breaches targeted at the insurance sector were financially motivated.

You store large amounts of sensitive customers’ data.

Your employees have access to highly valuable systems.

And that makes your business a perfect target for cybercriminals.

The robust, leading insurance companies in 2021 will shift their focus from paying for the damage to ensuring that damage never happens.

Mitigating risks might be the best long-term, successful insurance business strategy. And here’s how enterprise password management software can assist you.

Enterprise password management software protects the clients’ data you store

Enterprise password management software minimizes the risks for you. All the sensitive data that you store in a tool is encrypted. This ensures that unauthorized people cannot access the data, see it, or reveal it.

The same applies to employee access. You can always assign which team members can see which data, who can edit it, or re-share passwords inside the team.

Also, the software provides complete privacy for your clients. None of the data is stored in plaintext, no personal information is kept in a database – it is always encrypted and, therefore, private.

Will Ellis, a Senior IT Security Consultant at Privacy Australia, adds:

“Don’t be like Facebook and store passwords in plain text. All sensitive data should be cryptographically hashed.”

Hence, the best-managed scandal is the one that never happened. Enterprise password management software, if used responsibly, protects you from that.

Become the leading insurance company that not only pays, but also protects

The market is changing. A few years ago, the best insurance selling point was a guarantee to pay for the client’s losses in case something happens. As cybercriminals are becoming more advanced, receiving financial aid is not what satisfies the companies anymore.

The loss of billable hours and ruined reputation are the aspects insurance companies might cover financially. Yet, no insurance company is capable of restoring the lost clients’ trust.

Your clients, similarly to you, want damage prevention.

Take a step further and provide your customers with a solution that assures their business security.

The enterprise password management software provided to your clients will protect sensitive data inside their businesses.

Your customers will receive an even higher level of insurance (financial aid + business protection).

You save money because the chances of clients’ data breaches (and the damage cover costs) decrease.

You earn money and a reputation as a leading insurance provider because you innovate the market by protecting your clients, not only covering their damages.

Innovative solutions brought to you

When in search of your new enterprise password management software provider, consider PassCamp.

This innovative enterprise-oriented password manager can implement both – software for your internal business password management and the tool that you can successfully provide to your insurance clients.

Speaking of the latter, you can resell the already established password management solution in the market or choose a white label option (and put your custom brand on top).

Gain a major foothold in the insurance market. Sell not only a backup plan but the prevention too. Take a step today and reach out to us.