Today’s digital landscape has drastically changed the pace of business and information flow, with customers seeking innovative ways to connect and employees expecting flexibility and empowerment to meet new demands. To keep up, banking, financial services, and insurance institutions require a new type of agility and efficiency, particularly when it comes to customer experience. However, it’s crucial to recognize that digitization should not come at the expense of security, as increased digital interaction can bring about risks such as cyberattacks and security incidents. Hence, companies must ensure seamless collaboration and operation of systems, regardless of data, applications, or local and global business communities. Let’s find out how an insurance major is leveraging digital for business transformation.
Aegon Life Insurance, a digital life insurance company, has revolutionized its operations with a new digital platform, delivering a seamless and straight-through experience for purchasing policies. With a visionary ‘Pure Digital 2.0’ strategy, the insurance firm is pioneering an AI-driven approach to financially secure every Indian household. But it’s not just about convenience and efficiency – this strategy is also firmly rooted in the principles of security and privacy.
The company realized that in its journey of digital transformation, building digital trust among customers and partners has become paramount. To achieve this objective and ensure unbeatable data security, the company has a hybrid infrastructure with a multi-cloud environment. State-of-the-art cloud-native solutions like SOCaaS, DLP, PAM, EDR, cloud posture management and workload protection have been deployed to ensure security and reliability. These solutions have helped with better visibility and governance of infrastructure for proactive risk detection and mitigation. The organization also has DevSecOps with an automated CI/CD pipeline for secure development.
Benchmarking to global standards and thus assuring the security of customer information, Aegon Life has also achieved ISO 27001 certification for its technology and information security platform.
“This achievement is part of our commitment to maintaining the highest standards of security for the protection of customer information. With this announcement, we seek to instill confidence in our existing and prospective customers and reinforce our commitment to securing their digital lives,” said Aegon Life MD and CEO, Satishwar Balakrishnan.
The company’s management provided support to improve its internal processes and make everyone aware of security risks. “We have safeguarded our technology infrastructure by improving the maturity of our internal processes,” said Satishwar.
“We want to provide confidence to our existing and prospective customers with this announcement that, as a Digital-Only Life Insurance company, we understand the importance of Digital Trust in today’s world. We want to assure our customers and partners that their privacy and security are paramount to us,” says Kiran Belsekar, Senior Vice President, CISO & IT Governance at Aegon Life Insurance.
Kiran says that this certification aligns with the organization’s vision. “We have a digital-native multi-cloud environment with Work from Anywhere (WFA) options for employees; hence, assuring our processes are secure was critical. We are committed to continually improving digital trust by providing the security of customer information. This certification brings improved security, better compliance, a competitive advantage, increased risk management, trust, and confidence. This achievement is just the beginning, and we will continue to work towards maintaining the highest standards of information security and privacy.”
Aegon Life Insurance’s achievement of ISO 27001 certification evidently indicates a significant milestone in its digital transformation journey and demonstrates its commitment to become a more agile and efficient organisation, better able to meet the needs of its customers, partners, and employees.