Insurtech company achieves a key milestone through a SOC 2 Type II ‘good standing’ attestation
Leading Chicago-based insurance technology company Magnifact® announced today the successful completion of its System and Organization Controls (SOC) 2 Type II audit for its patented cloud-based AgentVizion platform.
This achievement reflects the company’s commitment to the highest levels of data security and process compliance for its clients by adhering to key trust services criteria as defined by the American Institute of CPAs (AICPA): Security, Availability, Confidentiality and Privacy.
“This attestation from AICPA underscores Magnifact’s commitment to our customers and partners on our data protection policies driven by stringent operational controls,” said Magnifact founder and CEO Krish V. Krishnan.
“We handle sensitive client information as we service our insurance industry clients, and it is therefore essential to assure them that the controls we have deployed to protect and secure their data are operating at the highest standards of compliance,” Krishnan added. “At Magnifact, we continue to invest in streamlining our platform’s information security architecture and strengthening our organizational oversight around information security.”
The third-party audit, performed by a leading independent organization, confirmed Magnifact’s compliance related to its information security best practices, policies, procedures and operations. The final audit report concluded that Magnifact has successfully met the rigorous SOC 2 standards set by AICPA.
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