Cyber crime continues to be among the world’s fastest growing criminal threats. This poses a challenging decision for companies considering adoption of the “bring your own device” (BYOD) trend, where employees use their personal mobile devices such as tablets, phones and laptops to conduct company business. Executive SummaryTimothy Francis of Travelers outlines some of the risk management steps P/C insurance carriers can take to manage risk exposures related to employee use of personal mobile devices.
Allowing employees to use personal devices has both benefits and drawbacks, particularly in industries such as insurance where many employees are traveling, out in the field and have sensitive information.
On the one hand, allowing the use of personal devices for work can be cost effective, efficient and streamline employee access to information. On the other, it may create several potential challenges and risks.