Cyber security is a concern for all modern organizations. ISO 27001 is a technology and user driven information security management standard. ISO 27001 offers the specification and states what is expected of an information security management system.
Use of technology by banks has increased rapidly and is now a vital part of the operational strategy of banks. The number and impact of cyber incidents and have increased the need for cyber security, so in the case of financial sector including banks. There is an urgent need to put in place a robust cyber resilience frameworks to ensure adequate security of their assets on a continuous basis.
ISNP stands for Insurance Self Network Platform. In order to create a digital platform for the insurance industry, there are guidelines issued for insurance e-commerce, by the Insurance Regulatory and Development Authority of India (IRDAI). These guidelines are to standardize e-commerce rules and regulations across v various organizations and institutions selling insurance online. Any entity who wants to sell insurance will need to setup an insurance self-network platform (ISNP) and follow the rules for it.