New Providence, NJ, July 13, 2016 – EverythingBenefits, a provider of comprehensive, next-generation benefit technology solutions and services, today announced that it has taken additional action in its commitment to maintain industry security standards as it relates to the protection of sensitive data such as personally identifiable information (PII) and electronic personal health information (ePHI). The company partners with payroll and HR outsourcing companies, insurance brokers and other providers by helping them seamlessly and securely integrate their technology with insurance carriers and 401(k) providers.
EverythingBenefits has added a proprietary solution and feature set – EverythingBenefits Secure Email – to the company’s cloud-based benefits suite to ensure the safe communication of sensitive personal health, insurance, and financial data between the company, its partners, and customers. There has also been the appointment of an independent assessor Schellman & Company, Inc. (formerly known as BrightLine) to conduct a SOC 2 Type 2 Audit and HIPAA Review intended to recognize the company’s internal controls as they relate to security, availability, processing integrity, confidentiality, and privacy.
According to the 11th annual cost of data breach study: Global analysis sponsored by IBM and conducted by the Ponemon Institute, the average consolidated total cost of a data breach grew from $3.8 million to $4 million from 2015 to 2016. The average cost incurred for each lost or stolen record containing sensitive and confidential information increased from $154 to $158. Data breaches in healthcare are at the top of the list in terms of cost. They are the most expensive to remediate and growing more so – with $355 per record breached for healthcare organizations.
“The health industry is poised to become the number one target of data breach attempts and any company handling personal health information needs to ensure their systems protect that data,” explains Dmitry Korsunsky, co-founder and CIO at EverythingBenefits. “By adding a proprietary secure email solution to our benefits platform and working on this audit with Schellman, we are reinforcing our commitment to continually ensuring our controls and processes meet the highest industry standards, so we can continue to deliver the next-generation end-to-end benefits products and services our customers have come to expect.”
“We are pleased to be working with EverythingBenefits to conduct the SOC 2 Type 2 Audit and HIPAA Review,” adds Scott Zelko, principal at Schellman. “ePHI and PII data is a concern for service providers we are engaged with today. We look forward to helping EverythingBenefits keep pace with the changing compliance landscape.”
EverythingBenefits is a leading provider of next-generation, end-to-end benefit technology solutions and services that help businesses of all sizes and their employees experience benefits in more meaningful ways. By leveraging an open business model, EverythingBenefits partners with benefit brokers, independent agents, insurers, payroll or human capital management companies, and other providers. The company’s philosophy is that technology should make life simpler, more rewarding, and more enjoyable. For more information, please visit our web site at www.everythingbenefits.com or connect with us via our blog, LinkedIn, Twitter, Google+, or Facebook.
Schellman & Company, Inc. is a global provider of assurance and compliance services. It is the only company in the world fully accredited to provide a suite of services that includes SSAE 16 (SOC 1) examinations, SOC 2 examinations, PCI DSS / PA-DSS compliance validation, ISO 27001 certification, ISO 9001 certification, FedRAMP Assessments, network and application penetration testing services, P2PE assessments, and HITRUST assessments. Schellman offers clients the unique opportunity to achieve multiple compliance objectives through a single third party assessor. For further information, please visit www.SchellmanCo.com.
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