Allianz Life Insurance Company of North America recently confirmed a cyberattack occurred earlier this month which leads to data breach. The attack led to a major data breach affecting most of its 1.4 million customers, financial professionals, and some employees in the U.S.
How the Breach Happened
On July 16, cybercriminals launched a social engineering attack to access a third-party, cloud-based system used by Allianz Life. Social engineering tricks people into giving away sensitive information or access by pretending to be someone they trust.
The company quickly acted after discovering the breach, taking immediate steps to stop the attack and reduce the damage. They also reported the incident to the FBI.
About Allianz Life
Allianz Life operates out of Minnesota and forms part of Allianz SE, a global financial services company headquartered in Munich, Germany. Allianz SE serves more than 125 million customers worldwide.
In the U.S., Allianz Life employs about 2,000 people, according to the company’s website. Allianz Life has been operating in North America since 1979. That year, Allianz SE acquired North American Life and Casualty and renamed it to Allianz Life.
What Information Was Stolen?
Allianz Life hasn’t revealed exactly what personal data was stolen in this breach.However, it confirmed that hackers accessed personally identifiable information (PII). This may include names, contact details, Social Security numbers, and other private data used for identity theft.
Allianz admitted in a legal filing with the Maine Attorney General’s Office on July 26 that the breach affected a large number of customers. While the company didn’t give an exact number, it said hackers impacted the majority of its U.S. customer base.
What Is Allianz Doing About It?
Starting August 1, They will begin notifying all affected individuals. As a response, the company is offering 24 months of free credit monitoring and identity theft protection through a security firm called Kroll. This service can help individuals spot suspicious activity on their credit reports and take action if needed.
Allianz confirmed that hackers didn’t compromise its main computer systems or internal networks. That includes its policy administration system, which is responsible for handling customer insurance policies.
This cyberattack serves as a reminder that even large, well-established companies are vulnerable to data breaches. Allianz Life says it is committed to protecting its customers’ data and improving its security to prevent future incidents.
If you are an Allianz Life customer, expect an official notice from the company in early August. Make sure to take advantage of the free protection services being offered.
Also read: Security Breach Compromises Personal Data of Organ Donors
