The Challenge Of Quantum Resilience

Quantum computing is coming, and, when it arrives, it’s going to revolutionize how data is processed and stored. However, quantum technology, in the wrong hands, could create a multitude of digital risks, including advanced cyberattacks.

For the insurance industry -- which is increasingly relying on data as a key asset to digitize transactions, improve underwriting decisions and speed processes -- this poses a significant problem and represents a potential exposure area that could jeopardize all levels of the industry, from the average insured to the large legacy carriers.

What are quantum computing and quantum resilience?

According to IBM, ‘quantum computing is a rapidly emerging technology that harnesses the laws of quantum mechanics to solve problems too complex for classical computers.’

Dr. Michele Mosca at the University of Waterloo predicts that there is a one in seven chance that some fundamental public-key crypto will be broken using a quantum computer by 2026. That chance increases to one in two by 2031.