The insurance industry is a rich target for cybercriminals due to the fact that data stored and transferred among insurance-related companies contains personal, financial, and health information. Stolen information fetches almost $500 per record on the black market, compared to a dollar or less for a credit card number(1). Cyphre’s Enterprise Data Protection Suite with advanced BlackTIE® encryption technology offers insurance companies the necessary security to nullify cyberattacks and strengthen trusted relationship with customers.
Marketable benefit to build market share and bolster reputation
Heightened privacy strengthens customer trust
Extension of security policies broadens data protection radius
Compliance with federal, state, and industry regulations
Mitigation of cost and liability concerns
Flexible deployment models: public/private cloud, on-premise
The insurance industry relies upon Big Data and Cloud Computing as a means of improving product offerings and growing its customer base. With large amounts of private information crossing internal and external networks, insurance companies must adopt a more effective and expansive data protection posture. Cyphre provides the necessary data protection solution to secure insurance information with the use of BlackTIE® encryption, which protects previously vulnerable encryption keys, rendering any hijacked keys useless to hackers.
Cyphre’s BlackTIE® augments vulnerable single encryption keys with hardware-encrypted Black Keys to render hijacked keys useless, thus nullifying potential threats.
BlackTIE® operates transparently and is invisible to the end user for a seamless user experience. Its heightened security does not hinder the ability of businesses and their employees to be productive, nor does it limit collaboration.
Rather than using a single encryption key to protect files, BlackTIE® uses a unique encryption key for each individual file as an extra layer of security.
Many enterprises wish for their IT departments to manage their keys; BlackTIE® allows the option for total control of encryption keys.
In 2015, Anthem was a victim of a data breach and 80 million highly-sensitive patient health records were exposed. If the data had been encrypted with BlackTIE® technology, the use of protected encryption keys would have rendered any information unusable and protected the privacy of the affected individuals and the reputation of the company. By implementing a data protection solution, such as the Cyphre Enterprise Data Protection Suite with BlackTIE®, insurance companies can protect valuable company and client data from the inevitable event of a breach.
Cyphre’s BlackTIE® encryption technology protects the privacy of clients’ information through the use of Black Keys. These hardware-encrypted keys add an extra layer of security on top of standard TLS encryption. This approach guarantees that only those systems with verifiable keys can view files. Unlike software-only encryption, Black Keys are never readable in plaintext, nor are they exposed in memory. Even if a threat event occurs and an attacker is able to access the main memory buffers, Cyphre’s Black Keys are still protected and rendered completely unusable. Further, Cyphre does not require a threat to be detected in order to instantiate protection. The nature of Cyphre’s blackened keys ensures that they are unusable and indecipherable at all times.