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Writer's pictureMarkus Vervier

Navigating DORA Compliance for Insurance Firms: An Introduction

Updated: Nov 12

The Digital Operational Resilience Act (DORA) represents a turning point in Europe’s approach to digital operational security, and its implications for the insurance sector are significant. Designed to create a secure financial sector, DORA’s framework impacts everything from risk management to technical testing to third-party oversight. It doesn’t just target banks and asset managers; insurance providers are also on the list. Why? Because your clients trust you with sensitive data, and even a minor data breach can lead to reputational and financial damage.




Understanding the Why: DORA’s Importance to the Insurance Sector

In today’s digital landscape, a cyber attack can bring operations to a standstill and cause significant damage to an insurer’s reputation. DORA introduces a structured way to prevent, respond to, and report digital disruptions, meaning your organization can operate smoothly even in a high-risk environment.


Imagine, for instance, a situation where client data is compromised during a cyber attack. Without proper reporting and recovery processes, this could lead to client distrust, regulatory fines, and operational losses. DORA provides a framework for handling these incidents effectively, turning potential crises into manageable challenges. But DORA cover much more.


A cyber attack compromising client data can lead to significant consequences if not managed with effective reporting and recovery processes. Without these measures, the breach may result in client distrust, regulatory penalties, and operational losses.

Core DORA Requirements for Insurers

DORA’s requirements can seem overwhelming, but they essentially cover five main pillars:


  • ICT Risk Management: Implementing and maintaining controls over your information and communications technology.

  • Incident Reporting: Having procedures in place to report incidents both internally and to regulatory authorities.

  • Resilience Testing: Testing systems to ensure they can withstand disruptions.

  • Information Sharing: Collaborating with other entities to understand threats better.

  • Third-Party Oversight: Managing relationships with external service providers to mitigate potential risks.


Each of these areas is critical in establishing a secure and resilient digital infrastructure. They make sure insurers are equipped not only to avoid incidents but to react appropriately when issues arise.


Getting Started with DORA Compliance

Starting your DORA journey means taking a close look at your ICT setup. Map out where your sensitive data is stored, who can access it, and any third-party providers involved. Begin with these steps:


  • Designate a Team Begin by assigning a team responsible for DORA compliance. This group doesn’t have to be huge, but it should include representatives from IT, risk management, and legal/compliance to ensure all bases are covered. Giving specific people this responsibility makes it easier to stay organized and aligned on DORA requirements.

  • Find Out Which Requirements You Already Cover Before building new systems, review your current digital resilience measures. You might already have protocols in place that meet certain DORA requirements, like cybersecurity risk assessments or incident response plans. Understanding your existing capabilities helps you identify gaps and avoid redundancy. Also have a look at ISO27001 and NIS2, being compliant with one of those, brings you a long way for DORA.

  • Find the Right Partners to Work With DORA compliance often means working with third-party providers, from cybersecurity specialists to resilience testing firms. Choosing reliable partners with the right knowledge can ensure you meet standards efficiently.

  • Build Internal Awareness

    DORA compliance is a team effort. From frontline employees to upper management, everyone should have a basic understanding of digital resilience and the role they play in it. Consider hosting internal workshops or quick training sessions to familiarize your team with DORA’s essentials and how they apply to everyday tasks.

  • Establish Regular Review Cycles

    Compliance is not a “set it and forget it” task. DORA will require regular updates, testing, and reporting, so establish a recurring review cycle. Quarterly check-ins with your designated team can help ensure your policies remain effective and compliant as technology and regulations evolve.


DORA compliance is a team effort that starts with designating a responsible team and assessing current capabilities. By aligning with existing standards, collaborating with trusted partners, building internal awareness, and maintaining regular review cycles, organizations can create a sustainable approach to digital resilience.

Conclusion

DORA isn’t just another set of compliance guidelines; it’s an opportunity to strengthen your company’s digital infrastructure and build trust with clients. In our next post, we’ll dive deeper into the ICT risk management framework and provide specific steps for structuring it in a DORA-compliant manner.


How Nemesis Can Support Your DORA Journey

Nemesis offers a platform based on Breach and Attack simulation, designed to help insurance providers like you meet DORA standards confidently.


If you’re curious about where to start or have questions about DORA’s requirements, we’re here to help! Nemesis offers a training to learn about our our DORA platform, breach and attack simulation and practical applications. Reach out to discuss the steps that make the most sense for your team or request our DORA brochure.


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