Piloting the Insurance Wave
Over the last 20 years, the insurance Industry has witnessed significant regulatory reform at both the state and federal levels: The NAIC’s 2017 adoption of its Insurance Data Security Model Law establishing data security standards; the enactment of 23 NYCRR 550, New York’s Department of Financial Services regulation adding cyber security requirements; the implementation of The Health Information Technology for Economic and Clinical Health Act (HITECH) to promote and increase the use of health information technology—all in addition to the General Data Protection Regulation (GDPR) adopted in 2016 and became enforceable in 2018 impacting EU data protection and privacy. Further, new technologies such as cloud, blockchain, smart contracts, and the Internet of Things (IoT) have led to the increase complexity of the industry.
Thus, the leaders of the insurance industry must adapt in order to succeed in today’s economic and regulatory climate. They must operate in compliance through systems and policies that are effective, scalable, and represent the best technical practices and capabilities available.
That’s where we step in.
Why Work with Capsicum
We help our clients navigate through this delicate and dynamic landscape, partnering with insurance institutions ranging from life and health to property and casualty to cyber insurance. Leveraging our expertise in forensics, strategic planning, business operations, and information technology, we address the issues critical to your bottom line and ensure your organization is within regulatory compliance.
Our services include:
- Cyber Security
- Security and privacy
- IT/Business strategy alignment
- Leveraging technology for competitive advantage
- Business intelligence
- Technical audits
- Compliance audits and surveys
- Capsicum provides a layer of technical support that is so desperately needed in our highly computerized workplace.