Policybazaar’s IT systems breached: PB Fintech

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Mumbai: Online insurance provider Policybazaar’s IT systems suffered a breach on July 19, 2022. But no significant customer data was exposed, said PB Fintech on Sunday.

Policybazar’s parent company PB Fintech in a regulatory filing on Sunday said Policybazaar’s IT systems were breached on July 19.

Following the security breach incident, the vulnerabilities in Policybazaar’s IT systems have been identified and fixed, according to the company.

Further, the company informed that it has initiated a thorough audit of IT systems.

“We wish to bring to your notice that on 19 July 2022, certain vulnerabilities were identified in a part of Policybazaar Insurance Brokers Private Limited (“Policybazaar’’) IT systems and the same were subject to illegal and unauthorized access. In this regard, Policybazaar has reached out to the appropriate authorities and is taking due recourse as per law,” PB Fintech said in a notification to exchanges.

The information security team is currently reviewing the security breach incident along with external advisors, according to PB Fintech.

“While we are in the process of undertaking a detailed review, as on date, our review has found that no significant customer data was exposed. Policybazaar has always prioritised the security and integrity of its systems and is committed towards protection of customer data,” the notification further read.

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