In a world increasingly prone to cyberattacks, corporate espionage, phishing, and simply careless handling of data under life’s daily pressures, every organization must be vigilant. As Israel’s leading insurer, Migdal Group, recognizes even greater urgency to address these dangers, given that it operates at the intersection of risk across multiple industries and is bound by rigorous regulatory demands, in addition to increasing expectations consumers have for keeping their personal details private.
To lead by example and BOLDLY set a new standard for data collaboration and document transmission between itself and its retail partners, suppliers, clients, and regulators, Migdal scoured the market and identified a best-of-breed technology solution that had never been applied to an insurer in Israel, offered by SpecterX.
Customized to Migdal’s network architecture and application programming interfaces (APIs), project MigdalPROTECT enables the company to track and control access to any file that is shared over Migdal’s own network as well as the Internet – whether automatically sent by interactive/event-driven applications, scheduled batch processes, e-mail, or even copied to a USB drive and then copied manually to other offline copies (i.e. over “sneakernet”). Besides the comprehensive protective ring around this data, MigdalPROTECT represents a BOLD new Future of Work, by implementing this cybersecurity solution in a BOLDLY unique manner – one that is “agentless”, in that it requires no additional software agent. Consequently, it’s all seamless to the end-user: customers, retail partners, regulatory bodies, or anyone else who is authorized to access particular data does not need to install/update additional software to enable this. Further cementing Migdal’s position at the vanguard of the BOLDEST Insurtech is that MigdalPROTECT is not only a solution to gate who can access what data, but it also provides a view to where around the globe the data has travelled and who has accessed it – regardless of platform: desktop, laptop, tablet, phone, etc.
Here are a couple of advanced scenarios that Migdal can now handle, as a result of MigdalPROTECT:
- Ensuring that a former employee’s access is instantly revoked, even to offline files the employee has in their possession, and alerting Migdal if this individual nonetheless tries to access these files.
- Preventing unauthorized access to confidential documents by either locking them remotely or else choosing to allow such remote access while tracking who accessed the document and its path. For example, tracking the case of a proprietary insurance quote or other document with confidential personal/corporate data electronically passed on to someone it shouldn’t be – such as being forwarded to a competitor to counter-bid on.
Despite increasingly complex interactions among diverse platforms and partners, rising individual phishing and more organized criminal cybercrime, Migdal’s BOLD initiative maintains user productivity by being “agentless” while managing full control and visibility wherever data files reside. MigdalPROTECT is able to do this through:
- End-to-end data management: Offers a comprehensive solution for managing data throughout its lifecycle.
- Enhanced security: Provides robust security measures to guard sensitive data from unauthorized access and breaches.
- Improved efficiency: Streamlines data management processes, increasing productivity and reducing costs.
- Compliance: Helps Migdal meet various data privacy and security regulations.
Migdal’s partnership with SpecterX eases far more secure collaboration between the company and its network of reinsurers, consultants, medical institutions, law firms, software providers, and direct communication with clients, with the BOLDEST Cybersecurity features available to Migdal including:
- The ability to remotely control who can and cannot access a file – even if that file has been downloaded and the device being used to attempt access is offline!
- Agentless Encryption
- Seamless Integration with Existing Channels
- Data remains with Organizational Storage
- Universal Policy Control
- Customized Policy Implementation
- Cross Platform Collaboration
- File Protection after Download
- Actionable Data Tracking Beyond Perimeter
- Large File Transfer via Email
Two primary data channels that received extra focus at Migdal are email and report delivery:
- PROTECTED DELIVERY THROUGH API
Regulations mandate that quarterly reports sent to clients be encrypted in transit and authenticated by the recipient for access. SpecterX enables Migdal to comply with these standards while delivering 200,000 reports each quarter directly to clients via API with SpecterX. The flexibility of SpecterX enables reporting to be expanded to all 2.5 million Migdal customers. - SECURING OUTLOOK
Besides the API channel, the sharing of files within Migdal’s external and inter-departmental communication is conducted via Outlook. SpecterX was integrated directly into Migdal’s mail flow to secure sensitive data shared through the email channel. This was achieved without disrupting Migdal’s user experience or the existing security systems. SpecterX worked in unison with Migdal’s existing Data Loss Prevention (DLP) systems to secure sensitive data when leaving the DLP perimeter.
Successful delivery of MigdalPROTECT represents yet another instance of Migdal embodying its core values that include being the BOLDEST Insurtech – not just as the first Israeli company insurer, but also the global pioneer in its industry to implement what amounts to the BOLDEST Cybersecurity solution: one that features such granularity of access policy control – with “agentless” offline file protection even after download, where the contents of Migdal’s data NEVER has to travel, even temporarily, through its delivery partner, SpecterX, to be fully tracked in perpetuity. Furthermore, Migdal has adhered to today’s requirements for the BOLDEST Future Of Work: that collaboration be lightweight, without the burden of installing and maintaining additional client-side software, invoked seamlessly across all hardware platforms and the entire software stack, that it be fully integrated into real-time event-driven processing as well as scheduled batch jobs. Even more futuristic is its proven success at tracking data propagation, attempted access, and type of usage beyond the perimeter, which can not only be actionable to safeguard the data, but also be used to understand those involved and what the data is used for, to gain competitive advantage and other added strategic insights, keeping Migdal BOLD, above and beyond its competition.
