April 2021 – As the security threat landscape grows in number and impact, insurers should consider multi-factor authentication (MFA) approaches as part of a broader IT security strategy. This brief provides an overview of multi-factor authentication (MFA), business drivers and use cases in insurance, current and planned usage among insurers, and profiles of 14 prominent providers.

Many insurers have deployed multiple authentication methods, with the primary driver being risk management. MFA is in use both internally and externally. With many insurers forced to enable remote operations during the pandemic, and continuing regulatory pressure for increased data security, multi-factor authentication has gained renewed attention.

Providers profiled in this brief include Broadcom, CyberArk, DeepNet Security, Duo Security (part of Cisco), ForgeRock, Ilantus, Iovation (part of TransUnion), LexisNexis Risk Solutions, Okta, OneLogin, OneSpan, Ping Identity, RSA, and Thales Group.