Ontario Insurance Advisors Must Protect Their Client's Personal Information

With the internet, web-based CRMs and portals an Insurance Advisors private client data can be more at risk than ever before.

The number of threats and pitfalls of operating laptop computers are more severe and more frequent than they once were. Many Insurance Advisors in Ontario are mobile and are using laptops, so it has become increasingly difficult to protect data.

Insurance Advisors are provided with the most sensitive client data that includes but is not limited to medical, personal and financial information. We sometimes hear in the news that technology giants like Sony have had their client data hacked and when we hear these stories we quiver because this could result in identity fraud and a number of other serious outcomes.

In the US the Pentagon Federal Credit Union, a bank used by nearly 1 million U.S. service members, a single hacked laptop led to a much bigger problem. The company found that someone had hacked a laptop on its network and used it to access a company database that contained credit card numbers, addresses, Social Security numbers and other sensitive information.

Protecting client data can be expensive for an Independent Insurance Advisor and so sometimes it is not made a priority when it should be a top priority. This is why it is very important that consumers choose an Insurance Advisor who is part of an MGA (Insurance Brokerage) that takes protecting client data seriously. On the same point a consumer has every right (and should) ask their insurance advisor what their privacy policy is and what measures the organization takes to protect their client's personal information.

On the flip side, an Insurance Advisor who is changing MGA's or is entering the business and choosing an MGA, should be concerned with the issue or privacy as it relates to computing. Our brokerage has spared no expense in this regard because the integrity of our client data is so important.

We take great measures to ensure that our client's data is protected and we also ensure that our agent's data is protected by providing them with access to the same technology we use as an MGA. This month we will be co-championing a webinar with "NoPanicComputing" in an effort to keep our agents informed of the threats out there and what they can do to prevent their client's personal information from threat of being hacked.

by: Gary Mandel

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