With 2021 seeing 5.1 billion records breached and an annual increase in attacks at 11%, the risk of security incidents is only getting greater every year. And when an attack hits, the cost to recover, which includes fines, penalties, legal fees, and much more, are also great. To help minimize the scope of financial damage, many organizations turn to cyber insurance. Albeit a relatively new branch of insurance, demand is already huge and ever increasing.
Operations management software is a must-have for insurance companies. From managing policies and processing claims to storing customer data and analyzing trends, insurance companies use operations management software to centralize a full range of processes. This article will explore the benefits of operations management software for insurance companies. StartingPoint has become a go-to platform for insurance companies looking to streamline their processes and embrace workflow automation.
Insurance management software automates customer service and office management activities for insurance agencies. Many insurance agency software solutions include task management systems and cloud storage facilities, enabling team members to centralize key administrative tasks without having to navigate between multiple platforms. It’s a no-brainer for all agencies. Insurance agents are wasting far too much time on tedious and repetitive tasks that could easily be automated.
It’s been noted that there are two types of organizations – those that have suffered a data breach, and those that will fall victim to a data breach sooner than later (most likely sooner). The hard truth of this statement is reflected in the fact that according to some sources 97% of networks will experience a security compromise over any given six-month period. And with a staggering 9.7 billion data records having been breached since 2013, these numbers are only rising.