Insurance companies collect and store vast amounts of sensitive customer information, including financial records, health data, and underwriting details. Penetration testing identifies vulnerabilities in policy management systems, claims portals, and internal networks to reduce cyber risk. It’s a crucial part of maintaining compliance with data protection laws and upholding customer trust.
Cyberattacks against insurance firms increased 26% in 2023, with several high-profile breaches involving ransomware and data leaks. Consequences include regulatory fines, reputational harm, and compromised client data. Penetration testing helps insurers close security gaps and demonstrate due diligence to regulators and clients alike.