Overview

Insurance agents and brokers exchange sensitive information via email daily. A growing range of compliance drivers are enforcing insurance companies to implement a privacy best practice.

Solution Scenarios

Send brokers commission and new policy information securely. Solution: Encrypted Mail

Send policy renewal forms and contracts to customers securely and allow them to reply securely. Solution: Encrypted Document Presentment

Protect customer information that is stored on hard drives, laptops and portable devices. Solution: Encrypted Documents

Create a secure collaborative community for brokers, customers and partners to communicate with a full audit trail. Solution: Encrypted Message eXchange

Why Encrypt?

Insurance agents and brokers exchange sensitive information via email daily. A growing range of compliance drivers are enforcing insurance companies to implement a privacy best practice that includes encryption. Whether it’s communicating via email or maintaining records on a hard drive, customers need to know their personal information is always protected.

Compliance and Risk

• International Accounting Standards (IAS)
• Sarbanes-Oxley Act (SOX)
• FSA Regulations on Brokerages
• Data Protection Directive - National governments in all 25 member states to the European Union
• The Integrated Prudential Sourcebook for Insurers

Customer Service and Value

• Meets compliance regulations and corporate privacy policies
• Speed-to-market for insurance quotes and statements
• Is ubiquitous for both insurance companies and its brokers
• Brokers have a time-to-market advantage when presenting client policy quotes, renewals, and contracts
• Non-compliance can have a negative impact on brand image
• Customer and partner communications always remain protected
• Reinforces concern about customer privacy (e.g. identity theft) from password intercept and theft

Key Benefits

Encryption for the insurance and broker processes provides:

• Efficient delivery of broker commission communication
• Faster customer and partner communication
• Secure reply delivers secure two-way communication for faster turn around time for new business
• Faster response time to open issues
• Secure automated distribution of new policy applications
• Quick corporate wide deployment
• Cost effective per user pricing
• No end user training required
• Minimal IT support required to manage users
• Significant ROI by decreasing courier costs and replacing paper based communication with email

Technology

The Echoworx Secure Services (ESS) platform is based on industry trusted standard PKI (Public Key Infrastructure) and S/MIME technologies for strong encryption and digital signatures, relying on standard X.509 certificates that are issued and managed for Echoworx’s data privacy applications, which include: Encrypted Mail, Encrypted Documents, Encrypted Document Presentment, and Encrypted Message eXchange.

The ESS platform is hosted in high-availability data centers operated by world class Application Service Providers. These data centers optimize data communications, message processing and storage of large volumes of data and offer fully redundant and uninterrupted service levels. The ESS platform provides a security framework that simplifies the end user experience of sending, receiving and storing encrypted documents by automating the management and use of digital credentials.

• Carrier Grade Architecture
  Unlimited scalability and high availability service.
• Standards Based Solution
  Industry-trusted PKI, X.509 certificates and cryptographic standards.
• Messages integrity
  Ensures message integrity through the application based digital signatures.
• Certification Authority Included
  No need to deploy and maintain expensive third party Certificate Authorities.
• Simple Deployment
  Fully hosted solution requires no end user administration.
• Simple Administration
  Intuitive and easy to use administration console for enrolling/disabling end users and resetting passwords.
• Industry Standard Encryption
  PKI, X.509, S/MIME, 3DES. AES, 128-bit SSL, 1024 bit RSA keys with MDS and SHA-1.