Although nobody wants to think about death, we all plan as best as we can. We have the resources to draft wills, buy life insurance, and generally make transitions as easy as possible for our loved ones. Have you also considered getting a life monitoring platform?
Whether you built your small business from the ground up or inherited it as part of a family tradition, your business is important to you. Do you know what would happen to your business in the case of your death or retirement? You put so much time and effort into your company. Succession planning can help you ensure its future.
When an insurer purchases a life insurance policy, the purpose is to provide for their loved ones upon their death. However, these life insurance benefits often go unclaimed. Here are some reasons why as well as how a life monitoring platform can prevent benefits from going unclaimed.
Technology is evolving every day. Today’s latest technology would thus become obsolete some days later. It better explains the evolution of human civilization right from the ice age to its current avatar. There has been a paradigm shift in the ways and means of doing things. For instance, earlier people used to store documents in prints. But, with the growing demand for economic utilization of space, environment friendliness, and making services user-friendly, companies engaged in the business of finance and others (where usually a large volume of transactions takes place day in and day out) have gone for digitization.
We are living in the cosmos of the web. The Internet has amplified its pace, abstracts, and mechanization since its origin. Most of us absolutely rely on it for attaining information and statistics of any form. It has given the collar and backbone to many industries in terms of building contacts, transferring knowledge and material, communication etc. Due to all these valuable supplements, it has formed an imperative tract in our daily life.
Even a minute data security failure could eventually lead to huge organizational damage. In fact, statistics show that many companies that suffer a data breach go out of business because of the loss of consumer trust. Adding to that, the Federal Trade Commission has established that a failure to implement adequate security is an unfair trade practice that can result in fines and criminal charges. So it is highly essential to protect your Corporate legacy by using state of the art encryption practices.
Believe it or not, every marketing decision today is driven by data. Having said that, we mean, businesses today cannot run without their database as they have shifted from offline to the online model of business. It applies to industries on a holistic basis. As a matter of fact, hackers have become more aggressive and active than ever before aiming the financial assets as well as the personal data of people of all age groups. The latest ransomware attacks worldwide are the glaring examples of this new phenomenon. Therefore, you need a stronger push towards encryption such as the encrypted vaults.
Much water has flowed under the bridge since the launch of cryptocurrency. It is palpably the New Age currency with an improved security feature. But, the crux is that cryptocurrency has now been the hot target of hackers and robbers worldwide. Even in the US, many people have suffered due to the explicit crypto wealth that they disclosed knowingly or unknowingly. Having said that, we mean, the disclosure of your crypto assets can potentially put you in trouble. Cases like abduction for ransom and cryptocurrency robbery at gunpoint have been reported. Therefore, the real challenge now is to safeguard the cryptocurrency wallet.
Cybersecurity is a matter of grave concern in the present era. It has gained a substantial attention and investments both from the private and government sectors, especially in view of the languishing pains they have been subjected to in the recent times. Ransomware attacks, for instance, took away the happiness of the cybersecurity experts all over the world including some of the most advanced countries in the world such as the US and the UK. Having said that, we mean cyber protection is a matter of common concern to all. Therefore, the challenge ahead is twofold to all businesses that have an online presence namely protecting legacy and minimizing the loss in the event of a security breach.
Cybersecurity breaches have become one of the most predictable parts of every business. Almost every year, many companies are losing hundreds of billions which is more than the amount spends on recovering from hurricanes. In addition to that when the information like social security numbers and other sensitive data are stolen and it breaks into digital systems.