Every agency has to deal with password hell.
An agency with 50 employees that conducts business through 65 carriers or MGAs must, at a minimum, ensure the security of 3,250 IDs to protect the personal information of its clients. Industry experts have projected that the cost of compliance, including adding and deleting user IDs and passwords, may soon reach as high as $3,000 per employee per year.
Multi-factor authentication (MFA) and emerging laws on cybersecurity soon will further complicate credential management (user IDs and passwords) for agencies, brokers, MGAs, and carriers.
This can’t continue.
ID Federation Survey
The nonprofit ID Federation, an insurance industry coalition, has launched a survey intended to obtain information about the current state of credential management within the industry.
ID Federation will use the survey data it collects for the sole purpose of easing the pain of credential management among insurance organizations by expediting the adoption of SignOn Once, a trust framework that eliminates the need for multiple passwords and IDs for participants while maintaining the highest security standards. ID Federation requests that personnel from independent agencies and brokers complete the two-minute survey here. The survey closes on September 30, 2018.
You can also copy this link into your browser to access the survey: http://survey.constantcontact.com/survey/a07efnf1na0jle32zhy/start
You can respond anonymously to the survey or include your name and email address to receive updates about the progress of SignOn Once.
ID Federation is working on behalf to in whole insurance industry to help create an insurance world where passwords are obsolete. Your answers to their survey will help them achieve that goal.
To learn more about ID Federation, SignOn Once, and the importance of an industry-wide credential management solution, I suggest you read Mike Foy’s article: You & Your Agency Must Address Credential Management Now.
About ID Federation
ID Federation is a nonprofit coalition of insurance leaders committed to working for the common good of the insurance industry. Their mission is to eliminate repetitive sign-on requirements, remove barriers to effective communication, establish common legal and technological standards, and ensure the highest level of digital security across and between organizations in the independent insurance channel. ID Federation representatives come from carriers, agencies, solution providers and industry associations, and together they developed SignOn Once, a trust agreement to ease the burden of credential management.
More Password Management Information
Over the last few years, I have written several articles about Password management and offered some suggestions on tools any agency can use to manage staff credentials more effectively. Here are links to a few of these articles:
- Microsoft Authenticator Replaces Passwords with Phone Log-In
- Easily Manage Website Passwords
- Microsoft: Frequent Password Resets are a Waste of Time
Take a few minutes right now to complete the survey. Everyone should participate. The deadline is September 30, 2018.
What are you doing to manage user IDs and passwords in your organization?