Policybazar Says Company’s IT System Compromised; informed authorities
PB Fintech, the parent company of Policybazaar Insurance Brokers Private Ltd, said on Sunday that the company’s computer system was breached on July 19 and subsequent corrective action was taken.
The company identified certain vulnerabilities on July 19 in part of Policybazaar Insurance Brokers’ computer systems, resulting in illegal and unauthorized access to the network.
“In this regard, Policybazaar has contacted the relevant authorities and is taking the necessary remedies in accordance with the law. The identified vulnerabilities have been corrected and a thorough systems audit has been initiated,” the insurance brokerage firm said in a filing. regulatory.
The matter is currently being reviewed by the information security team with outside advisers, he said.
“While we are undertaking a detailed review, to date our review has revealed that no significant customer data has been exposed. Policybazaar has always prioritized the security and integrity of its systems and is committed to protecting customer data,” it said.
Policybazaar is in the insurance brokerage business and stores a lot of data about its policyholders, including their transaction details.
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