Once a hacker has gained access to your system they can go where they like, look at classified data, even download it. They could leave software that collects credit card numbers and reports them back to the hacker. Fortunately for business the hackers are not criminally minded yet, but it only a matter of time. Cryptographic technologies are nowadays widely recognized as the essential tool for security and trust in electronic communication. Two important applications of cryptography are digital signatures and encryption.
Encryption can help keep data and communication confidential.
We all have websites and many members are starting in a small way to write business through their websites using the Internet as a distribution channel. Some are using it as a lead generation tool, others are using it to provide online quotations and one is collecting premiums via credit cards, on an unsecured line. This form of policy servicing as well as providing creditability to the insurer is more efficient for the policyholder and insurer and will save considerable costs in policy administration and call centres. Policyholder data is confidential and requires secure lines before they will use this form of information retrieval. Other industries particularly the banking industry are further advanced that the insurance industry in cryptography they need to be as electronic transfer of funds is essential to their business.