Modern Insurance Magazine Issue 65

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THE VELLA GROUP FORWARD THINKING. While vehicles are becoming increasingly complex to repair, customer expectations are evolving rapidly too. To meet these challenges, we’re making sure we’re ready to repair all types of damage by delivering consistently outstanding, digital customer service, minimising claim cycle times, and controlling costs. The Vella Group is one of the largest accident repair groups in the UK. Our highly skilled, electric/hybrid trained technicians and experienced support teams are committed to delivering a consistently outstanding claims experience to your customers, getting them back on the road quickly and safely. Future-focused, we’re investing in the latest repair and calibration equipment, alongside in-house training and apprenticeship programmes which, coupled with our digital customer platforms, ensure that we’ll be there to support owners of the current and next generation of vehicles. For more information, get in touch today and see how The Vella Group can support your customers’ needs. Tom Hadfield M: 07867 332696 E: thadfield@thevellagroup.co.uk www.thevellagroup.co.uk
EDITORIAL BOARD Data Security at EDAM Group At EDAM Group, we’re always thinking about our team and customers. In order for our team to deliver a first-class accident management service, we need to do everything we can to support them. With this in mind, we’ve looked at multiple areas of our business and have considered the impacts we may face from the epidemic of remote working. By implementing the following steps, we’ve ensured our data security remains strong. Strong Authentication. By implementing multi-factor authentication (MFA) for accessing company networks and sensitive data, it has allowed us to remove any additional employee concerns when it comes to protecting our clients and their data. End-to-end encryption. The use of Virtual Private Networks (VPNs) or remote desktop solutions helps us to ensure encryption via internet connections, protecting data transmitted between home networks and our corporate systems, all whilst enforcing the use of newer protocols such as TLS1.2 / 1.3 and secure cipher suites. Endpoint Security. We strengthened endpoint security with robust antivirus software and firewalls. We’ve also moved from regular update schedules to the hot patching of vulnerabilities, allowing us to continuously put our customers’ needs first. Secure Communication. We implemented the use of secure communication tools for messaging and video conferencing, such as those with end-to-end encryption, to ensure that conversations are always undertaken with the highest level of security. Employee Training. We provided comprehensive cybersecurity training to all employees, which helped us to raise awareness about phishing scams, social engineering attacks, and safe online practices. We’ve also worked with our insurers to simulate phishing attacks, allowing them to recognise when one may occur and how to respond accordingly. Data Encryption. We reviewed our encryption of sensitive data, both in transit and at rest, to protect it from unauthorised access. Regular Audits and Assessments. Historically, we’ve conducted regular security audits and assessments to identify vulnerabilities, ensuring compliance with security policies through annual penetration testing. In this instance, we decided to move towards a more continuous monitoring approach, allowing us to have a deeper understanding of our business and where it may require improvements. Secure File Sharing. We reviewed our secure file sharing solutions to ensure encryption and access controls were in place to prevent unauthorised sharing of sensitive information. Incident Response Plan. We reviewed and enhanced our incident response plan to effectively respond to security breaches or incidents promptly. Secure Wi-Fi. This continues to be one of the hardest challenges that we face. We will work with our employees over the coming months to help them to secure their home Wi-Fi networks. We will do this by recommending and assisting in the utilisation of strong encryption (WPA3), changing default passwords, and hiding network names (SSIDs) from their home equipment. All of the above considerations allow us to exist as a customer-centric business with absolute security of data. Phil Wood, Group IT & Facilities Director, EDAM Group Robust Defences at The Vella Group Cyber threats are constantly evolving as networks become increasingly complex. Businesses and cyber defence systems must mirror this evolution to successfully mitigate cyber-attacks. In addressing cyber security risks, we’ve implemented a multifaceted approach focusing on eliminating manual processes, enhancing data access logging, and introducing sophisticated tools to combat phishing and scam emails. By automating operations, we minimize human error, one of the most significant vulnerabilities in cyber security infrastructure. This automation extends to real-time monitoring and management of data access, ensuring that any unauthorised attempts are detected and addressed swiftly. Recognising the evolving sophistication of phishing and scam tactics, we’ve invested in advanced email security tools. These tools leverage artificial intelligence and machine learning algorithms to detect and quarantine suspicious emails before they reach our employees, significantly reducing the likelihood of successful attacks. Together, these measures create a robust defence mechanism against cyber threats, securing our digital assets and safeguarding our business operations. In the realm of cybersecurity within our industry, several key innovations and technological advancements have been pivotal. The transition to cloud services stands out, offering enhanced security measures through centralised data storage and management, along with scalable resources to combat threats in real-time. Additionally, the implementation of advanced virus and malware protection technologies has significantly strengthened our defences. These solutions not only identify and neutralise known threats but also use heuristic analysis to predict and mitigate potential new vectors of attack. The integration of Machine Learning and Artificial Intelligence has transformed our approach to cybersecurity. These technologies provide predictive analytics, automate threat detection, and facilitate rapid response to incidents. By leveraging these tools, we’re able to stay ahead of cybercriminals through proactive monitoring and adaptive security strategies. Together, these innovations offer a comprehensive and dynamic defence system against an ever-evolving cyber threat landscape. To bolster our team’s defence against risks like fraud, ransomware, and phishing emails, we’ve implemented a comprehensive education and awareness strategy. This strategy hinges on rigorous process training that covers the latest threats and best practices. Through regular audits of these processes, we identify gaps in knowledge or protocol adherence, promptly addressing them with corrective actions to mitigate any vulnerabilities. Reinforcement of these practices and lessons learned is achieved through our Learning Management System and accessible knowledgebased tools. These platforms provide continuous, on-demand learning resources, enabling employees to stay updated on evolving cyber threats and security measures. By integrating interactive modules, quizzes, and real-life scenario analyses, we ensure that our team can also apply this knowledge practically. This holistic approach to education cultivates a vigilant and informed workforce, capable of identifying and responding to potential threats effectively. Dave Jones, Technology and Change Director, The Vella Group MODERN INSURANCE | 25
Page 1 and 2: ISSUE 65 ISSN 2515-3803 I SPY CYBER
Page 3 and 4: WELCOME Welcome to Issue 65 of Mode
Page 5 and 6: 8 12 14 17 29 38 44 49 51 53 55 Ins
Page 7 and 8: EUROPCAR NEW BRAND BLOCK Color grad
Page 9 and 10: Risk sentiment Hiscox Cyber Readine
Page 11 and 12: Page 07 Impacts of a cyber attack (
Page 13 and 14: Q Ken - what’s the appeal for hac
Page 15 and 16: INTERVIEWS that there aren’t some
Page 17 and 18: EDITORIAL BOARD A Varied Approach t
Page 19 and 20: Consumer Duty Defines the Role EDIT
Page 21 and 22: EDITORIAL BOARD The Vizion Standard
Page 23: EDITORIAL BOARD Embedding Consumer
Page 28 and 29: BOOKED IT. PACKED IT. WE’RE OFF.
Page 30 and 31: EMPOWERING THE FUTURE OF REPAIR Tec
Page 32 and 33: Straightforward insurance technolog
Page 35 and 36: ASSOCIATIONS ASSEMBLE Fleur Thomas
Page 37 and 38: ASSOCIATIONS ASSEMBLE Sue Brown Tit
Page 39 and 40: COUNTER FRAUD ACTIVITY: UK VS. US T
Page 41 and 42: THE DISTINCT LANDSCAPES OF INSURANC
Page 43 and 44: Jonathan Drake IMPROVING AGILITY, M
Page 45: Keeping insurers fully in the loop
Page 49 and 50: Friction Is the Key to Customer Suc
Page 51 and 52: Put the Sugarin First FEATURES As I
Page 53 and 54: A Total Loss Could Be An Electric G
Page 55: FEATURES THE EVOLVING RISK OF CYBER
Page 58 and 59: A new approach to repair management
Page 60 and 61: Modern Insurance Magazine’s notor
Page 62 and 63: Results INSURER OF THE YEAR WINNER
Page 64 and 65: “The team at Modern Insurance Mag
Page 66 and 67: INSUR. TECH. TALK
Page 68 and 69: INSURTECH Google Cloud QMonica, mor
Page 70 and 71: INSURTECH Capgemini AXA XL QCaitlin
Page 73 and 74: INSURTECH Munich Re Dikla, what are
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INSURTECH Q Is AI a friend, foe, or
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INSURTECH QWhat are some of the mos
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INSURTECH Welcoming… Percayso Inf
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INSURTECH Strategic Priority: Opera
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INSURTECH The Fastest Fish in the O
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Modern Insurance Magazine Issue 65

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