This has nothing to do with a graduate degree in fine arts. The problems of weak passwords have raised alarms for the insurance industry – which lives on its ability to assess and manage financial risk. It’s no wonder that they’re including technical questions on online security as part of their application process. It all has to do with multi-factor authentication (MFA).

You may already be familiar with the terms “2-FA” (two-factor authentication) and “2-SA” (two-step authentication) and are taking advantage of it. But with the increasing speed and strength of tools to breach online security defenses, insurance companies are hardening their defense systems by requiring technical information that’s beyond the knowledge of most customers.

Why are they doing this? The answer lies in a made-up quote attributed to the famous bank robber, Willie Sutton: “Because that’s where the money is.” Insurance companies and banks are all about money, and they do a lot of business together. Furthermore, no insurance company, bank, or business is too small for a cyber-attack.

We’ve already discussed how many websites are forcing us to use various forms of identity authentication beyond a password. Many are tied to our cell phones because most of us are attached to them. The better forms of authentication use something other than a text message, and they take advantage of recognizing your specific devices. Every device has a unique MAC (media access control) address, and authentication systems use that. If the authenticator can’t match your information with a MAC address, it asks for more information it can use to verify you’re the one seeking access.

With the corporate systems that insurance companies deal with, authentication becomes much more extensive and complex. Your application may cover any number of employees who work on combinations of computers and mobile devices. The insurance applications require technical information about security systems, and you have to know both the security measures and the IT setup to provide the right information. Every application is different because each insurer has its own system. That works to everyone’s benefit, even though it’s a pain because one breach won’t necessarily lead to other breaches.

We can help you navigate these technical issues on insurance applications. Call us – 973-433-6676 – or email us to discuss your needs and set up an appointment to complete your application.