Indian Insurance Portal Policybazaar Suffers Breach

guest · Jul 25, 2022

July 25, 2022

Indian insurance company Policybazaar has warned that it suffered a data breach. The company’s owner PB Fintech, warned in a letter on Sunday that it had discovered “illegal and unauthorized access” exploiting vulnerabilities in its systems on July 19.

“The identified vulnerabilities have been fixed and a thorough audit of the systems has been initiated,” the company said, explaining that its security team is working with external advisors to review the situation.
“While we are in the process of undertaking a detailed review, as on date, our review has found that no significant customer data was exposed,” it added.
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Founded in 2008, Policybazaar uses an online marketplace to connect individuals with insurers offering policies in a range of areas from health to car insurance. The company subverts a traditionally agent-based model, and says that it has sold over 19 million policies since it began.

The breach disclosure letter did not mention which data had been exposed or how many customers were affected.
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“Increased data leaks are worrying, but with the amount of inevitable attacks, more needs to be done to deal with the aftermath appropriately,” said Jake Moore, global cyber security advisor at ESET in response to the news.
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Indian Insurance Portal Policybazaar Suffers Breach

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