When I was a little kid, my annoying older brother used to warn me about the monster hiding under my bed—you know, the kind that only comes out at night and gobbles up frightened little boys. As a result, I don’t think I ever looked under there, even in the daylight (and it amazed me that my mom would actually get under there to clean!).
Anyway, the idea was that if I didn’t look under the bed, the monster wouldn’t know I was there and thus would not serve me up as its latest culinary delight. And you know, this particular form of avoidance worked well, because—as you probably guessed—I never did have an encounter with that monster.
It occurred to me during the recent IASA Educational Conference and Business Show, however, that the insurance industry is practicing its own form of avoidance—or outright denial—when it comes to Internet security. I attended several sessions where this topic should at least have been part of the conversation, but on the rare occasion it came up, it was quickly whisked aside.
In the IT Town Hall in particular, when the conversation turned to social media in insurance, not one of the experts on the panel said a word about the security risks involved with allowing links from one’s enterprise to the vast networks of social media sites with which most of us are familiar. When I finally brought up the question, I was told that it was no big deal, and that insurance would deal with social-media-related vulnerabilities the same way it has dealt with other vulnerabilities.
Of course, to me that meant that insurance will not deal well with such threats, since our industry has seen attacks just like any other and hasn’t been particularly proactive in addressing them. In my own IASA session that focused on social media for insurance, several panel members did acknowledge the growing threat of cyber-crime, and it was clear that several of the insurers present were reluctant to fully embrace social media due to these insecurities and to associated legal vulnerabilities. This little bit of practicality gives me hope for our industry.
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