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Over the past four years we have seen an explosion in the volume of personally identifiable information (PII) online as social software and user generated content have allowed millions of people to create, manage and share their data in the cloud. While the rewards have been pretty clear (lower barriers to participation and collaboration) the risks have not been understood so clearly.
But where there is risk, insurance is sure to follow…
Drew Bartkiewicz of The Hartford has been considering these trends and has helped create the first security product around online data risk, “CyberChoice 2.0.” Drew sums up much of his thinking when he says, “Credit is to the financial markets what privacy and trust are to Web 2.0” (you can’t have one without the other). Fittingly, we spoke in New York City the morning after Lehman Brothers went under.
Part two of this interview is available here.