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  5. Multi Factor Authentication - A Snap Poll for the Celent Executive Panel

Multi Factor Authentication - A Snap Poll for the Celent Executive Panel

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16 February 2024
Karlyn Carnahan

Available Only for Members of the NA Celent Insurance Executive Panel

Abstract

Snap polls reflect questions posed by members of the Celent Executive Panel, a group of C level executives in the insurance industry. This insurer is looking at multi factor authentication for agents and would like to understand how others are handling it.

This deck provides a summary of the responses to a Snap Poll conducted February 8 - 14, 2024. Questions for a snap poll come from one of the other members of the panel. The snap poll was fielded to select members of the Celent Executive Panel, a group of C level executives in the insurance industry. 38 Insurers responded to this survey

If you are an insurer and are interested in participating and receiving these snap polls, please email kcarnahan@celent.com to verify eligibility.

The question that was posed was:

Background:

This insurer is taking a look at their multi factor authentication. While they believe this is an essential step in managing security, they’re hearing mixed messages from their agents. According to their agents, this insurer may be the only one in the industry that is going down this path. Hah! While we did a snap poll on this topic back in 2018 and again in 2022, the topic doesn’t go away – and things have changed a lot since then. They’d like to get some additional data around how the industry is handling this critical security issue.

Questions:

What is the status of requiring MFA for agent/broker portals/external sites:

  • Complete
  • Actively rolling out
  • Planning
  • Not planned

If not yet complete, do you have a target date for completion?

What options are being provided (choose all that apply):

  • SMS text
  • Voice call verification
  • Email verification
  • Google authenticator
  • Other

What kinds of techniques have you implemented to make the agent experience better? (e.g., offering 90-day password holds, so agents only must go through MFA quarterly)

If you have rolled out MFA to your agents, how did you handle the change management efforts?

If you’ve rolled out MFA to your agents, how have the agents responded? Has it had any negative impact on new business, agent satisfaction, or other dimensions?

How has the agent response been related to the user experience of having to manage multiple MFA’s across their carriers?

Any other thoughts that might help this carrier as they put together their strategy?

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