Insurance companies specialize in minimizing risk for their customers, but what about managing risk internally? The customer data that insurance companies possess, including personal information such as Social security numbers, medical history, and financial data, increases the likelihood of data loss, theft, or corruption. And when a data incident does occur, the consequences can be significant.
In this blog, learn how a leading specialty insurance provider minimized its risk of Salesforce data loss with Own.
How one insurance company is protecting its Salesforce data
Rick Arthur, a Solution Architect for Salesforce, is responsible for ensuring that his organization’s Salesforce org is secure, scalable and that they are getting the most value from the platform. His company uses Salesforce as the source of truth for the organization and leadership relies on Salesforce to see the big picture and understand what is going on in the company. For Rick and his team, Salesforce also helps tear down silos and create transparency so that various departments can work together more efficiently.
Despite the value that Salesforce was providing, there was one gap that Rick knew he still needed to address. While having your data in the cloud means it's automatically secure, it's still susceptible to human error, theft, or corruption. And when it comes to who is accountable for protecting cloud data, the responsibility falls squarely on the end user.
As an insurance provider, this company needed help to afford to take risks with their data. So when Rick reminded his leadership team there wasn't a backup solution for Salesforce, they immediately prioritized putting one in place.
When it came time to choose a backup provider, Own was an easy decision. Own's established reputation as a leader in the industry and easy-to-use application were deciding factors in choosing Own. With Own Recover, Rick and the team can quickly recover from errors, have visibility to see what's happening with their data, and have the reassurance that they'll be fine no matter what happens to their data.
Why insurance companies must prioritize data protection
Like most industries, insurance companies continue shifting from paper-based records to digital and electronic forms to manage customer data. While this has efficiency and workflow benefits like Rick's company experienced, it also comes with risks. For example, large volumes of insurance data can get lost or corrupted accidentally or maliciously.
When it comes to insurance data, compliance is also a key consideration. Companies providing healthcare insurance, for example, are subject to the Health Insurance Portability and Accountability Act (HIPAA), which dictates how often you must run backups and how long you must retain them. However, even companies for which HIPAA doesn't apply may still need to comply with other regulations, like GDPR, CPRA, etc.
Using Own, insurance companies can recover quickly from a data incident and maintain compliance with regulations. In addition, we allow you to tailor retention policies for every instance to keep copies for precisely the correct period. With Own Recover, you can retain on-demand and daily backups for up to 10 years and monthly backups for as long as needed.
To hear firsthand Rick’s experience with Own, check out the video below.
