Swedish largest insurer Folksam accidentally shared data of 1 million Swedes with tech giants

guest · Nov 3, 2020

Sweden’s Folksam Insurance Group Reports Data Breach Involving Big Tech
November 3, 2020
https://www.pymnts.com/news/security-and-risk/2020/sweden-folksam-insurance-data-breach-big-tech/

One of Sweden’s largest private insurers, Folksam Group, says a data breach affected one million of its clients. Folksam said it had accidentally allowed big tech companies to access customers’ private data, Bloomberg reported.

Folksam shared client data with Facebook, Google, Microsoft, LinkedIn and Adobe, the Swedish company said in a statement on Tuesday (Nov. 3). The firm said it discovered the breach after an internal audit and that it has reported the breach to Swedish regulators.
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Among other things, Folksam provides personal loans and homeowners insurance along with commercial insurance for cars, boats, trade unions and other organizations. It oversees about $50 billion in insurance assets and is a major investor in a number of Sweden’s biggest companies.

Folksam said the breach happened as it was trying to “analyze and give our customers customized offers.”
“But unfortunately, we have not done it in the right way,” said Jens Wikstrom, Folksam’s head of marketing and sales.
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Some of the data that was shared “can be considered sensitive,” such as information revealing union membership and pregnancy insurance, the company said.
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Bloomberg: Data Breach Hits 1 Million Swedes After Insurance Firm Error

One of Sweden’s largest private insurers says it inadvertently allowed some of the world’s biggest tech companies to gain access to private data in a breach that affected up to 1 million clients.
“We have immediately stopped sharing this personal information and requested that it be deleted.”

Folksam said it has reported the breach to Sweden’s Data Inspectorate.
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Swedish largest insurer Folksam accidentally shared data of 1 million Swedes with tech giants

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