Survey of insurance professionals reveals that 50% of them wouldn't gamble more than £1 on the security of their IT systems Thursday 22 March 2001 PDF Print A recent survey of insurance professionals conducted by CMG Admiral, part of global Information & Communications Technology services group CMG, reveals that half of them wouldn't bet more than just one pound that their IT systems are safe from security attacks. This is particularly worrying as 67% state that at least two-thirds of their IT systems contain company sensitive data. These results suggest that even though 20% of respondents say they spent between 10-20% of their IT budgets on security last year, more investment is needed in order to make them confident that their systems are watertight. 52% state that their primary objective in 2001 is to be effective at eCommerce. 11% say it is to increase customer relationship management. But with little emphasis on assuring customers that their systems are secure they may find it hard to meet these objectives. Even after a spate of IT security breaches at several high profile companies, eSecurity is still only rated by only 5% of insurance professionals as being their greatest IT priority for 2001. 62% believe that the biggest IT security threat is from external parties. The rest, 38%, say that the greatest threat is more likely to come from internal sources. When asked what was hindering the implementation of more secure systems, 50% state that the problem results from having too many devices and platforms to cope with. But, in contrast, not one respondent feels that security implementations are too complex for them to handle. 33% say that it is more down to cost. Mike Woods, director at CMG Admiral, commented: "It appears from the results that insurance companies seem to be taking an 'it won't happen to me' attitude. And, although money spent on eSecurity may be less attributable to driving bottom line cost benefits than other parts of IT expenditure, it cannot be ignored." He continued: "52% say that they want to be effective at eCommerce. An important way of making electronic channels successful is by gaining the trust of those you want to use it. Security is a key issue for many customers who are otherwise wary of publishing their personal details on the internet. A company which makes an initial investment in eSecurity will be better placed to realise a real long-term benefit on its balance sheet as consumer confidence rises and online sales increase." CMG Admiral Enquiries: Imogen Beck, CMG Admiral, Parnell House, 25 Wilton Road, London, SW1V 1LW. Tel 020 7592 4755, Fax 020 7592 4157, Email: email@example.com Press Enquiries: James Read/Richard Moore, Citigate Technology, Tel: 01604 232223, Fax: 01604 234501, 7 Albion Place, Northampton, NN1 1UD, Email: firstname.lastname@example.org or email@example.com Background to CMG Admiral CMG Admiral is part of the CMG group and represents the combined UK business of CMG and Admiral. With over 3500 staff throughout the UK CMG Admiral offers the strength to deliver global solutions locally. CMG Admiral is focused on enabling clients to gain maximum advantage from technological innovation. CMG Admiral provides a pragmatic, partnership approach and is committed to building long term relationships with clients. CMG is a global Information & Communications Technology (ICT) group, with leading positions in the provision of business information solutions and mobile messaging and billing products. Through management consultancy, systems development & integration, software applications and outsourcing, CMG helps organisations to build secure ICT infrastructures that enable the adoption of new business models for electronic and mobile commerce. Established in 1964, CMG is headquartered in London and Hoofddorp (near Amsterdam) and now implements and supports applications for customers worldwide from bases in 16 countries. CMG has proven knowledge, solutions and products across a wide spectrum of markets, including finance, transport, telecommunications, media, petrochemicals, utilities, retail, manufacturing and government agencies. The Group also provides outsourced business services ranging from payroll processing, call centres and networked systems to infrastructure management, application maintenance and hosting. CMG Wireless Data Solutions has established a leading position in wireless messaging and gateway products, mobile Internet and e-mail, cell broadcast and customer care & billing systems. These products are provided to mobile telecommunication operators and service providers worldwide from offices in Europe, the Americas and Asia Pacific. CMG works alongside its customers in long term relationships to generate success for them. Through the quality of its services, products and professionally committed people, CMG adds value to its customers' businesses. This creates a basis for the Group's sustained success. CMG is listed on both the London Stock Exchange (FTSE 100 and techMARK 100) and Amsterdam Exchanges (AEX Midcap). http://www.cmg.co.uk This press release was distributed by ResponseSource Press Release Wire on behalf of Citigate Dewe Rogerson in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.