Technology is changing at an exponential pace. We all see evidence of this whenever we buy the latest smart phone, only to see the next upgrade appear 12 months later. In 2017, Apple celebrated the 10th anniversary of the iPhone, but this technology is so embedded in our lives it has become second nature and feels like it’s been with us for more than 20 years.
In a similar way, organisations have become dependent on technology. The internet, emails, online trading, data storage, social media, computers and smartphones are now common tools required to communicate and trade in the modern world. It is often the case that the technology we work with has become so familiar to us; we can overlook the integral part they play in the smooth running of the organisation.
Whilst organisations have differing levels of dependency on technology, they all have some form of cyber risk.
In this article, Nicholas Hartley, head of business improvement and innovation at Ecclesiastical, focuses on the increasing threat posed by cyber risks and what steps brokers and their clients can take to mitigate exposures.